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