• Prohibition Orders Published ALEXANDRIA, Va.-NCUA has issued a prohibition order against Amy Shufelt-Cure, a former employee of Columbia Greene FCU, Hudson, N.Y., was convicted of petit larceny. Shufelt-Cure was sentenced to probation and ordered to pay restitution in the amount of $29,160.69.

    July 25
  • WASHINGTON-The Treasury Department announced today that 25 credit union organizations received more than $28 million in funding under this year's round of the Community Development Financial Institutions program.

    July 25
  • WASHINGTON-The Consumer Financial Protection Bureau officially opened for business last Thursday without the benefit of a director-appointed by the president and approved by the Senate - but it has already released a report on the discrepancies between the credit scores sold to consumers and the scores that are actually being used by lenders to make credit decisions.

    July 25
  • HOLLYWOOD, Calif.-First Entertainment Credit Union placed some eye-catching signage on its Studio City branch-which turned out to be a little too eye-catching for some.

    July 25
  • RANCHO CUCAMONGA, Calif.-Since CUs will likely have to change out one ATM at each branch next year, they should also consider adding imaging capability to the new machine they purchase.

    July 25
  • BOLOGNA, Italy-The single biggest compliance burden isn't one specific regulation but rather a general lack of clarity across the entire regulatory landscape, according to one expert.

    July 25
  • LAKE SUCCESS, N.Y.-It may be 2013 before real clarity comes to the compliance space, according to one observer, particularly for auto loans.

    July 25
  • SAN ANTONIO-The state of financial services regulations has reached a point where it feels "unsustainable" to William Klewin.

    July 25
  • MADISON, Wis.-The most pressing issue on the regulatory front for CUs: credit card-related rules.

    July 25
  • DES MOINES, Iowa-The heated pace of regulatory change demands that credit unions rethink how they approach managing and planning for compliance within the credit union, numerous analysts are recommending.

    July 25
  • FAIRBORN, Ohio-Every week it seems there is another mortgage compliance matter that needs attention.

    July 25
  • DALLAS-Ever tried drinking from a fire hose? That's what it's like for credit unions trying to ensure compliance with the rapid-fire regulation that has been coming out as Congress and regulators try to prevent another financial crisis.

    July 25
  • ST. PETERSBURG, Fla.-The worst thing CUs can do is think they are through the worst when it comes to the CARD Act and the new interchange rules.

    July 25
  • MADISON, Wis.-As if CUs did not have enough burdensome regulations to worry about, coming soon to mortgage departments will be a troublesome, three-letter acronym: QRM.

    July 25
  • SPOKANE, Wash.-If credit unions think the compliance burden is bad now, said Dave Chiappe, just wait-it's only going to get worse.

    July 25
  • NORTH CANTON, Ohio-Diebold outlined the following steps to PCI data security compliance:1. Install and maintain a firewall configuration to protect cardholder data2. Do not use vendor-supplied defaults for system passwords and other security parameters3. Protect stored cardholder data4. Encrypt transmission of cardholder data across open, public networks5. Use and regularly update anti-virus software6. Develop and maintain secure systems and applications7. Restrict access to cardholder data by business need-to-know8. Arrange a unique ID to each person with computer access9. Restrict physical access to cardholder data10. Track and monitor all access to network resources and cardholder data11. Regularly test security systems and processes12. Maintain a policy that addresses information security

    July 25
  • NORTH CANTON, Ohio-Financial institutions nationwide are in the middle of a 12-month window for complying with changes to the Americans with Disabilities Act, and Dean Stewart, senior director of advanced solution product management at Diebold, called that one of the most important compliance issues facing CUs today.

    July 25
  • SAN ANTONIO-If CUs don't want to add insurance products to their growing list of compliance burdens they need to pay close attention to what Washington is discussing about regulating these products and speak with state and national legislators-and soon.

    July 25
  • SAN DIEGO-Unemployment numbers may still be high nationally, but credit unions are hiring-and they're hiring compliance officers.

    July 25
  • ATLANTA-When it comes to compliance, "there's a new elephant in the room," noted Murray Klein-the Consumer Financial Protection Bureau.

    July 25