Checklist List - a listing of all the checklists found throughout InfoSight
Share these with your team today!
Compliance Connection Video
Are you sure you're in compliance with the FinCEN requirements that were effective in May? You may want to take another look at the
FinCEN Customer Due Diligence video from League InfoSight's CEO Glory LeDu to be sure!
Just a reminder that Compliance videos since 2016 can be found on YouTube at the Compliance Connection channel, where they are generally updated quarterly.
Reg CC rule includes presumption of alteration
The Federal Reserve has published a final rule amending subpart C of Regulation CC (Availability of Funds and Collection of Checks) to address check alteration disputes when the paper check is unavailable for inspection.
The rule adopts a presumption of alteration for disputes between financial institutions over whether a substitute check or electronic check contains an alteration or is derived from an original check that was issued with an unauthorized signature of the drawer.
Regulators support BSA/AML resource sharing
The federal depository institutions regulators and FinCEN have issued a joint statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively. Collaborative arrangements as described in the statement generally are most suitable for financial institutions with a community focus, less complex operations, and lower-risk profiles for money laundering or terrorist financing. The statement, which was issued by the Fed, the FDIC, FinCEN, the NCUA, and the OCC, explains how these institutions can share BSA/AML resources in order to better protect against illicit finance risks, which can in turn also reduce costs.
CUNA and FS-ISAC to host free webinar on effective cyber-exercises for credit unions
The first rule in achieving success with cyber-incidents is to have a documented response plan. The second rule is to practice that plan. However, knowing how to conduct a cyber-exercise and what resources are available to help practice the plan can be a challenge for credit unions.
Join the Credit Union National Association (CUNA), the Financial Services Information Sharing and Analysis Center (FS-ISAC) and the Financial Services Sector Coordinating Council (FSSCC) on Wednesday, October 17, 2018 for a webinar designed to:
Help CUs know how to exercise their plan
Share what resources are available and how to find them
Explore tips and tricks to make practicing incident response easy and effective
Waiting until an incident happens is not the best way to practice your plan! Learn how to have confidence in your response plan by practicing and where you can put it to the test.
For a complete listing of educational opportunities available from LCUL and to register, visit theLeague websiteand click on "Education"
Compliance Lagniappe is bi-monthly newsletter for affiliated credit unions of
the Louisiana Credit Union League. For more information or for compliance inquires, please contact the League's compliance department at [email protected].
