Three ways to avoid NCUA exam red flags
In a National Credit Union Association examination, a certain type of investment on a credit union’s books is likely to trigger extra attention from the examiner. In this post, I’ll describe what raises [...]
Posts Tagged ‘Red Flags’
3 common IRS audit red flags
Nothing strikes fear like receiving a notice in the mail from the IRS or your state tax revenue agency that you are being audited. A NerdWallet.com 2018 Tax Study found 89% of Americans surveyed [...]
Front-line defense: Device recognition raises red flag on fraud
A fraudster's easiest path through a financial institution's defenses often starts in the gray area between security and a seamless experience for consumers. Balancing those two priorities has been a traditional quandary in the financial [...]
Loan Zone: Secrets of the Cs
Keep your credit union on a safe and profitable course by knowing these “secrets of the Cs”—five underwriting red flags that signify your potential loan is a sinking ship. What are the Cs? They [...]
When to order a code red on your credit union technology
Finding a trusted credit union technology partner is crucial to your CU's success. Credit union executives are in the financial industry, not the technology industry, yet so much of your CU's success rides on the [...]
Compliance: Identifying human trafficking red flags
Human trafficking is a rapidly growing crime, and with credit unions on the front line of the financial system, they can help combat it. Not only can the reporting of suspicious activity help uncover crimes [...]
Don’t overlook little things when it comes to big data
Financial institutions (FIs) are arguably under more pressure than ever to ensure a consistency of service and handle poor consumer experiences in an effective manner. At the same time, they are under pressure to expand [...]
Risk, risk everywhere and not a stop to think
Sometimes I get a headache when I think about risk. Why? It’s EVERYWHERE! When I get up in the morning there is a risk I’ll trip over my cat and fall down the [...]
3 Red flags signal inadequate member service
Eliminate these inefficiencies in the back office. by: Alissa Fry-Harris Sponsored by Bluepoint Solutions What does back-office inefficiency have to do with attracting new members? Or retaining existing members? It’s a matter of priorities–[...]
NCUA Shows Its Hand Again
by Anthony Demangone NCUA recently held a webinar entitled "Examination 2013: What to Expect." If that didn't get your attention, I'm not sure what will. This is the equivalent of Sister Rose De Lima handing [...]
FinCEN Notes Payment Processing Red Flags
The Financial Crimes Enforcement Network issued an advisory Monday on what red flags financial institutions should look out for when working with third-party payment processors. The advisory, FIN-2012-A010, notes high numbers of consumer complaints about [...]