July 13, 2023

Compliance Blog posts dive into minor members’ voting rights, indirect lending risk considerations

ComplianceAs credit unions work to meet the needs of more than 137 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday.

Here's a roundup of what's new this week: 

The Minor Vote May Matter: In Monday’s blog post, Regulatory Compliance Counsel JaMonika Williams answers a question recently received by the Compliance Team regarding a minor’s right to vote in credit union elections. Williams notes the answer depends on what the credit union has in its bylaws and details guidance from the NCUA on the voting rights for all credit union members.

Indirect Lending: Compliance Risk Considerations: Director of Regulatory Compliance Nick St. John goes into compliance risk considerations that come into play with indirect lending arrangements. St. John also reviews the basics of indirect lending, specifically from the context of the non-member applicant.

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