The purpose of the Suspicious Activity Report (SAR) is to report known or suspected violations of law or suspicious activity observed by financial institutions. A complete, sufficient, and timely SAR can help law enforcement to [...]
Regulatory compliance seems to get more complicated – and more expensive – every year. Attracting and retaining qualified compliance staff is also becoming more complicated and expensive. As a result, there’s a growing trend for credit [...]
Financial regulation in the United States dates back to the Declaration of Independence when the fledgling states set limits on loan rates, and for the first two centuries of the country’s existence regulatory change [...]
Having a true culture of compliance means ensuring your employees are on board by: Gaye DeCesare Engaged leadership? Check. Effective governance structure? Check. Open lines of communication? Check. Adequate resources? Check. Risk assessment and independent [...]
While conducting numerous interviews at the recent NAFCU Congressional Caucus, one of my questions to credit union attendees was: "What keeps you up at night? What do you wrestle with every day?" Every single [...]
