|| Kevin Funnell
Oct. 24, 2012 – NAFCU’s Regulatory Compliance Seminar participants learned how to protect credit union officers and directors from lawsuits or enforcement actions during a keynote presentation yesterday led by attorney and author Kevin Funnell.
Funnell, a lawyer with Bieging Shapiro & Barber LLP and author of the "Bank Lawyer’s Blog," provided an overview of numerous corporate governance laws and regulations that are available as tools for credit unions to protect directors, officers and employees from lawsuits or enforcement actions. Funnell emphasized the need for credit unions to be proactive in taking advantage of these tools. He pointed to FDIC lawsuits as a cautionary tale of what happens when financial institutions fail to protect themselves adequately.
The presentation also addressed state law legal standards, corporate indemnification, directors and officers insurance coverage, records management and confidentiality.
The keynote is just one of many events at NAFCU’s Regulatory Compliance Seminar. Today, the seminar will provide participants with a look at proposed mortgage disclosures under the Truth in Lending Act and Real Estate Settlement Procedures Act, a panel discussion on the Bank Secrecy Act, and an update on rules from the Consumer Financial Protection Bureau. Attendees will also be able to participate in a NAFCU webcast on social media and website compliance.
NAFCU Director of Regulatory Compliance Steve Van Beek and Regulatory Compliance Counsel Michael Coleman (both holders of NAFCU's Certified Compliance Officer designation) are offering their expert insight on compliance issues at the seminar.
Registration to the event is open to all credit unions, regardless of NAFCU membership.
NAFCU's 2013 Regulatory Compliance Seminar will be held Oct. 22-25 in Nashville, Tenn. Early bird savings are available until Aug. 23, 2013.