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New on the Compliance Blog: Reg E errors, FTC's recent settlement, CU website requirements
As credit unions work to meet the needs of more than 124 million Americans during the coronavirus pandemic, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
Here's a roundup of what's new this week:
Reg E Errors and Fraudsters: In Monday's blog, NAFCU Senior Regulatory Compliance Counsel Loran Jackson dives deeper into specific unauthorized electronic fund transfer (EFT) errors that can occur. These errors were previously mentioned in another Compliance Blog post on the topic of Regulation E. Jackson breaks down an example given in the previous blog post and reviews how credit unions can address these forms of fraud.
FTC Enters Its Largest FCRA Settlement with Home Security Company: NAFCU Vice President of Regulatory Compliance Brandy Bruyere highlights the settlement made between the Federal Trade Commission (FTC) and Vivint Smart Homes, Inc., regarding alleged violations of the Fair Credit Reporting Act (FCRA). Bruyere breaks down the complaint filed by the Department of Justice on behalf of the FTC, as well as the alleged FCRA violations.
Do We Post It On The Website?: In today's blog, NAFCU Regulatory Compliance Counsel Janice Ringler offers a breakdown of what type of information or documents must be posted to a credit union’s website – including items that are required by law and other items that have become common to include but are not required by law.
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