CUNA sets free webinar on RDC litigation for Oct. 30

on 8:53 AM

CUNA sets free webinar on RDC litigation for Oct. 30
http://news.cuna.org/articles/115035-cuna-sets-free-webinar-on-rdc-litigation-for-oct-30?utm_source=real_magnet&utm_medium=email&utm_campaign=CUNA%2520supports%2520GFIN%252C%2520looks%2520to%2520ensure%2520even%2520playing%2520f

Compliance: NCUA provides guidance on FOM narrative approach

on 9:48 AM

Compliance: NCUA provides guidance on FOM narrative approach
http://news.cuna.org/articles/115031-compliance-ncua-provides-guidance-on-fom-narrative-approach?utm_source=real_magnet&utm_medium=email&utm_campaign=Compliance%253A%2520NCUA%2520provides%2520guidance%2520on%2520FOM%2520narrativ

CU AID Activated to Assist CUs Affected by Hurricane Michael

on 2:11 PM

The National Credit Union Foundation (the Foundation) has opened CUAid to receive disaster relief funds to assist credit union people affected by Hurricane Michael; a Category 4 hurricane that has caused catastrophic effects across Florida and Georgia and is expected to reach the already hurricane-soaked Carolinas.

Donations to CUAid are being used for any credit union employees and volunteers affected by this hurricane. Credit union supporters in every state can make donations through cuaid.coop.

“With Hurricane Michael arriving as the Florida’s strongest storm in over twenty-five years, we are opening CUAid to begin raising funds to assist credit union people in their recovery,” said Gigi Hyland, Executive Director. “We hope the credit union movement will once again show their support and cooperative spirit in assisting those who have been affected by this natural disaster.”

100% of the donations through CUAid goes to credit union disaster relief. The Foundation does not use disaster relief funds to pay for the CUAid.coop web platform or any of the Foundation costs to administer the national disaster relief program for credit unions.

Click here to make a donation

Free Remote Deposit Capture Patent Update Webinar

on 1:51 PM

Credit unions that use remote deposit capture (RDC) technology are receiving letters from a law firm "inviting" them to negotiate a patent licensing deal for the use of the technology.  The law firm that represents USAA claims to have developed the technology that credit unions are using. Most credit unions use vendors for RDC services and products; however, it appears that USAA is asserting patent infringement claims against credit unions directly instead of vendors. If your credit union offers or plans to offer RDC services to members, it needs to be aware of the USAA's claims.

On March 21 CUNA held a webinar addressing the topics below:
  • Happenings with the USAA RDC 
  • Steps to ensure you insulate your credit union from possible patent infringements 
  • How to plan a response to USAA claims 
Now there are further updates on the subject, and an update webinar has been scheduled for October 30th, from 3:30 pm – 5:00 pm ET.  The event is free to members of CUNA/AVCU.

Register to participate in the webinar and read more details.

If you are unable to attend the update live webinar, register for the free recording

Resources for New Compliance Officersw

on 1:42 PM

AVCU's online compliance resource for credit unions, InfoSight, provides many compliance resources for the new compliance officer, some of which are highlighted here:


Access to InfoSight is by subscription for employees of AVCU member credit unions. To establish an account send an email to johncote@vermontcreditunions.coop  

CUNA backs BCFP’s TDP proposal, offers improvements

on 11:21 AM

CUNA backs BCFP’s TDP proposal, offers improvements
http://news.cuna.org/articles/115017-cuna-backs-bcfps-tdp-proposal-offers-improvements?utm_source=real_magnet&utm_medium=email&utm_campaign=Final%2520RBC%2520rule%2520on%2520NCUA%253Fs%2520Oct%252E%252018%2520meeting%2520agenda

Sanders' Seeks Limit on Size of Banks

on 4:31 PM

Vermont Senator Bernie Sanders this week introduced legislation to apply a cap on financial institutions, and break up JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley. The Sanders bill has strong support from the Independent Community Banking Association (ICBA) which says that “the greatest ongoing threat to the safety and soundness of the U.S. banking system is the dominance of a small number of too-big-to-fail mega-banks.”

Sanders' asset cap would require a bank with assets collectively representing more than 3% of the country’s GDP (about $584B) to reduce its size within 2 two years.

Sanders says that the nation’s four largest financial institutions — JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup — are on average nearly 80% bigger than they were before their government provide 2008 bailout, and control nearly 36% of all bank deposits.  The 6 largest institutions have over $10 trillion in assets, equivalent to 54% of annual U.S. GDP.

No consideration of Sanders' bill is expected at least until next year.  Read online for more details 

CUNA, CUDoctor offer new HR eSchool

on 9:58 AM

CUNA, CUDoctor offer new HR eSchool 
http://news.cuna.org/articles/114998-cunacudoctoroffernewhreschool?utm_source=real_magnet&utm_medium=email&utm_campaign=CUNA%253Fs%2520Nussle%252C%2520Schenk%2520talk%2520CU%2520regulatory%2520climate%2520a

McWatters Calls on Congress to Make Number of Changes

on 9:22 AM

McWatters Calls on Congress to Make Number of Changes
http://www.cutoday.info/Fresh-Today/McWatters-Calls-on-Congress-to-Make-Number-of-Changes?utm_source=Fresh+Today+100318&utm_medium=email&utm_campaign=Fresh+Today+100318