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Credit union people earning or refreshing their NAFCU Certified Compliance Officer certifications – or just those who want to know the latest on their compliance responsibilities – packed the learning room Monday during the first day of NAFCU's Regulatory Compliance School in Arlington, Va.

Monday's program opened with a look at the legislative and regulatory processes that affect credit unions' regulatory compliance responsibilities, discussed by NAFCU Regulatory Affairs Counsel Celina Stewart.

After that, NAFCU Director of Regulatory Affairs Alicia Nealon provided an overview of the Federal Credit Union Act, NCUA and CFPB – the federal statute and key agencies that are the sources of the rules affecting credit union operations – and the impact of the Dodd-Frank Act on credit union regulation and supervision.

Also covered Monday, the first day of this five-day program, were:

• organization, bylaws and field of membership requirements, discussed by NCCO and NAFCU Regulatory Compliance Counsel Brandy Bruyere;
• special credit union issues, including express and incidental powers, discussed by NCCO and NAFCU Director of Regulatory Compliance JiJi Bahhur;
• NCUA supervision and examinations, discussed by Judy Graham, a program officer in the NCUA Office of Examination and Insurance;
• Regulation D transaction limitations and reserve requirements, discussed by NCCO and NAFCU Senior Regulatory Compliance Counsel Bernadette Clair;
• share insurance, discussed by Frank Kressman, associate general counsel for regulations and legislation at NCUA;
• the E-sign Act's requirements on electronic signatures (disclosures, opt-in requirements and consent), discussed by NCCO and NAFCU Regulatory Compliance Counsel Eliott Ponte.

Today's program kicks off with a look at Regulation E, Regulation CC, the Uniform Commercial Code and more. The School runs through Friday at the Crystal Gateway Marriott in Arlington, Va.

From left: Alicia Nealon talked to School attendees about the FCU Act, NCUA, CFPB; Eliott Ponte chats with credit union compliance officer Eric King.