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New on the Compliance Blog: NCUA supervisory priorities, Wells Fargo’s $3.7B fine
As credit unions work to meet the needs of more than 134 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:
NCUA Releases 2023 Supervisory Priorities: Regulatory Compliance Counsel Justin White breaks down the NCUA’s 2023 supervisory priorities, which identify new and existing initiatives the agency will focus on throughout the year.
Of note, the NCUA will host a webinar to discuss the priorities, happening Tuesday at 2 p.m. Eastern. During the webinar, Christel Orusede, from the NCUA’s Office of Examination and Insurance, will moderate a panel of NCUA subject matter experts who will discuss the priorities and other aspects of the agency’s examination program for the year. Registration for next week’s event is open.
CFPB Enforcement Action Against Wells Fargo Orders Billions in Redress and Civil Money Penalty: Senior Regulatory Compliance Counsel Rebecca Tetreau reviews the CFPB’s enforcement action against Wells Fargo that requires the bank to pay more than $2 billion in redress to its customers and a $1.7 billion civil money penalty.
Sign up to receive the latest Compliance Blog post in your inbox. Access additional compliance resources, including a compliance calendar, numerous final regulation summaries, and more here.
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Add to Calendar 2023-03-15 14:00:00 2023-03-15 14:00:00 Exponential Fraud Exposure: Reg II Awareness About the Webinar On this webinar we explore the impact of Reg II on card-not-present fraud. We’ll hear from Ann Davidson, VP of Risk Consulting, at Allied Solutions and a first-hand account of the implications attached to this regulation from Tracie Wilcox, President and CEO of On Tap Credit Union. We will examine how the timeline, with an effective date of July 1, 2023, will likely create unintentional negative consequences for consumers and credit unions as they’re forced to reprioritize this implementation over other consumer-oriented and security-focused improvements. This webinar will provide valuable insights into the challenges and potential solutions for navigating the new regulation. Attendees will walk away equipped with: An overview of Reg II and the upcoming implementation deadline. Steps to take to mitigate exposure. Examples of the risks on the horizon. Ann and Tracie are looking forward to sharing their vast experience and knowledge with the NAFCU community on March 15th. WATCH NOW Web NAFCU digital@nafcu.org America/New_York public
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