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News Archive

The League’s 2008 Year in Review: Part 3 of 3

 

In 2008, The League’s Compliance services helped to minimize credit unions’ exposure to legal liability, while helping to better prepare them for visits by regulators. The League’s Compliance Department helped to encourage proactive steps to protect the credit union and their members from legal issues. They accomplished this by:

 

  • Answering more than 3,800 calls to guide credit union operations.

 

  • Maintaining more than 1,200 searchable compliance web pages that were visited more than 16,000 times.

 

  • Conducting compliance reviews covering credit union operations as well as a BSA review to help credit unions meet the requirements of the Bank Secrecy Act. The latter meets the standard for annual independent BSA program testing.

 

  • Sending monthly issues of our Compliance Courier newsletter to compliance contacts at credit unions to alert them to changes in Wisconsin laws, impending compliance deadlines, available resources and more.

 

  • Issuing scam alerts regarding fraudulent checks circulating in Wisconsin and other threats.

 

  • Updating loan forms credit unions order through the W.C.U.L. Services Corp.

 

  • Updating employee handbooks ordered from The League to reflect changes to state and federal laws.

 

Did you miss the prior Year in Review articles? Read Part 1 and Part 2.


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