League Training on Compliance Topics
Training on Compliance-Related Topics is often suitable for both staff and volunteer officials. We can tailor our offerings to best meet your needs.
Account Administration
This session covers the different types of account ownership and addresses the rights of account owners to transact on the account. We’ll also discuss issues arising when parties to the account want to delete owners, change ownership, and make other alterations on the account.
Bank Secrecy Act & OFAC
Training on BSA and OFAC includes a discussion of the reporting and recordkeeping requirements, as well as explaining how your staff can identify money laundering and other suspicious activity. We’ll cover the USA PATRIOT Act provisions for member identification, OFAC requirements to conduct periodic checks of membership lists against government lists, and penalties for both the credit union and staff/volunteers for violations.
Compliance Alphabet Soup
This session reviews the main Federal Reserve Board regulations that apply to credit unions as financial institutions. We’ll start with Regulation B, work our way through Regulations C, D, E, Z, CC. And we’ll throw in some TIS (Truth-in-Savings) to top it all off.
Compliance Update and Hot Topics
Compliance is an ever-changing world. This session covers what’s currently “hot” in the compliance area and discusses what your examiners may be looking for when they come to your credit union.
Deceased Member Accounts
This session explains how the death of an account owner affects individual accounts, joint accounts, accounts for revocable trusts, and other types of accounts. Learn how the Code of Virginia affects the distribution of an account at the time of an account owner’s death and why Payable on Death designations can keep the credit union from getting in the middle of a decedent’s estate.
NCUA Rules and Regulations
As the regulator for federally chartered credit unions, the National Credit Union Administration has its own set of rules and regulations that credit unions must comply with. Learn about these regulations and how they affect all areas of credit union operations, from shares to lending, from investments to privacy, from safeguarding member information to Bank Secrecy Act requirements.
Regulation CC and UCC Articles 3 & 4
Regardless of asset size, all credit unions deal with checks. This session provides an overview of the two major laws that cover paying, collecting, and returning checks. We’ll also discuss how to handle issues like forgery, proper endorsements, check holds, stop payment orders, and post- and stale-dated checks.
Share Insurance Coverage
Learn how account ownership affects NCUSIF coverage and how members can maximize share insurance coverage. You’ll also learn why the Payable on Death designation is one of the best tools you can offer your members in structuring accounts to make the most of available share insurance coverage.
Truth-In-Savings
Ever wonder why the credit union gives out disclosures when a member opens a new account? Because Truth-In-Savings requires credit unions to disclose to account holders information about account limitations, earning dividends, compounding frequency & other issues tied to share accounts. This session answers many of those “why do we do this” questions!