CIiCU #71.

And now back to our regularly scheduled programming.  This month, Faith, Hal, Guy, Katherine & Rob discuss the following: –NCUA wanting to pull State Employees CU’s Insurance?!  http://www.cutimes.com/2012/05/16/oig-report-reveals-ncua-questions-secus-safety-and –What’s new with FinCen? –CUSOs and FOIA requests. –Would testing directors for financial literacy help protect the insurance fund? –Another whack at overdraft services.  What’s going to…

Tension Between Regulation and Economic Activity

By David A. Wolfe, Attorney In order to remain competitive in the marketplace, financial institutions compete to produce attractive financial products and increasingly with regard to their customer service. Maintaining a sound, clear and transparent legal framework for the administration of business activities in the financial market is important to maintain stability and promote competitiveness,…

2012 WWR Outstanding Community Partner Award

by Lauren Halton For the second year in a row Weltman, Weinberg & Reis sent out a call for nominations to all Ohio credit unions for our 2012 WWR Outstanding Community Partner award. Our goal is to honor credit unions that actively partner with their local communities to provide educational, community outreach and/ or community…

Mug Shots and Boat Slips

By August J. Ober, Attorney With the passage of the Patriot Act in 2001, which amended FACTA and the Bank Secrecy Act by extension, financial institutions were required to develop a written Customer Identification Program (CIP).  The Patriot Act requires that the CIP be integrated into the institutions Bank Secrecy Act and Anti-Money Laundering safeguards. …