Complying with federal regulations is increasingly important as new laws and regulations, and changes to existing laws and regs, keep coming at a rapid pace. New consumer regulations govern everything from loans to teller operations to electronic banking. Credit unions must constantly be aware of the changes surrounding them.
Compliance Guide for Credit Unions is designed to help you establish an effective compliance management system and understand the requirements of each law and regulation, to ensure that your credit union is in compliance.
The first part of the manual, Managing Your Compliance Program, provides an overview of the entire compliance function. The second part examines each of the relevant regulations and explains them in a practical, usable form. Each chapter discusses the regulation's purpose, coverage, any exemptions, disclosure and reporting requirements, and liabilities for noncompliance. Whenever appropriate, there are regulatory forms or model forms that relate to a variety of requirements, including reporting and disclosure. There also are plain, straightforward examples throughout the book to help illustrate the often complex material found in the regulations.