Full compliance work-up for CUs at NAFCU School

Compliance is an ever-present part of life for modern-day credit unions – and it’s ever-changing as well. Regulatory agencies are constantly updating old rules and proposing new ones, which makes it hard for credit unions to keep up.

One of NAFCU’s main goals for 2014 is to continue pushing for Congress and agencies to cut back the regulatory burden on credit unions. As we’ve been saying: enough is enough – credit unions can only be punished for so long as the result of a financial crisis they did not cause. However, in the meantime, our other major goal is to help credit unions with the burden as it exists today. That’s why we offer Regulatory Compliance School – a five-day conference that puts together the most important information about today’s rules and regulations, as well as what’s coming down the pike.

Regulatory Compliance School is an annual event open to all credit union employees responsible for compliance, risk, auditing and related areas, as well as executives, attorneys and examiners involved in compliance. This year, School will be held at the Gaylord National Hotel and Convention Center at National Harbor, Md., March 10-15.

The agencies, such as the Consumer Financial Protection Bureau (CFPB), have been very busy this year, and because of that, there are a lot of new changes and updates to cover at School. We’ve reworked NAFCU’s Credit Union Compliance GPS resource to include these updates, including the CFPB’s new mortgage rules.  At School, we will highlight both the new and the old compliance information during our daily sessions, but we will also dedicate an entire day – Regulatory Update Day – to the most recent changes that affect or will affect the credit union industry. NAFCU’s Regulatory Update Day will take participants through the key components of what’s new in compliance, including:

• unfair, deceptive, or abusive acts or practices (UDAAP);
• recent news from NCUA and the CFPB – and what to expect from them next;
• the Truth in Lending and Real Estate Settlement Procedures Acts (TILA/RESPA); and
• a “Post-Mortem Panel” on the CFPB’s new mortgage rules, including qualified mortgage and ability-to-repay rules.

Our talented School speakers for Regulatory Update Day include NAFCU Director of Regulatory Affairs Michael Coleman and Regulatory Affairs Counsel Angela Meyster, as well as Steve Van Beek from Howard & Howard Attorneys PLLC, who previously served as NAFCU’s vice president of regulatory compliance.

Other programs during the week will focus on NCUA supervision and exams, the Fair Credit Reporting Act, Regulation Z, the Bank Secrecy Act and many other topics. Some of the presenters scheduled to offer their expertise include NAFCU President and CEO Dan Berger, NAFCU Senior Regulatory Compliance Counsel Bernadette Clair, NAFCU Regulatory Compliance Counsels Ricardo Piñeres and Brandy Bruyere, Suzanne Garwood of Venable LLP, David Reed of Reed and Jolly PLLC, and Rusty Vellek of Transportation Federal Credit Union.

It’s set to be a busy week, full of important discussions about the issues credit unions need to know about – but we won’t leave attendees without any fun or entertainment. The Gaylord is situated right in the middle of the waterfront entertainment district and is just a few miles from Washington, D.C., and a water taxi ride away from historic Old Town Alexandria. We’ll also hold a networking reception at the end of Regulatory Update Day.

If you haven’t signed up for School already, you can register by this Friday, Feb. 14, for a discounted hotel rate (happy Valentine’s Day!).

We at NAFCU want to make sure our members and our industry are the best equipped institutions around when it comes to complying with rules and regulations. It’s a crucial component of surviving and thriving as a credit union today. That’s why we called together the best speakers and teachers available for School this year ­­‑ and why we hope you’ll be able to join us.