Recent Q&As - July 2020 | NAFCU

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In This Issue

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Question – If a credit union discontinues the current credit card program and starts a new program with different terms and features, what type of notice is required to be sent to members?

Question – In reviewing contracts with third party vendors, should a credit union review any specific section of third party service vendors’ business continuity plans in regards to pandemic planning? Should a credit union ask how service providers and vendors have handled the pandemic?

Originally appeared in NAFCU's July 2020 Compliance Monitor.

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