PYMNTS

SEPTEMBER 21, 2020

Risk factors include monitoring the volume/nature of the transactions and government responsibilities. The agencies offered a bit more transparency in identifying politically exposed persons to aid in AML efforts.

Fincen 139

Fincen AML Suspicious Activity Report (SAR) SARS 139

PYMNTS

MAY 8, 2019

Jim Nussle, president and CEO of the Credit Union National Association (CUNA), recently requested that all CU supervision be handled by the National Credit Union Administration (NCUA). Government Accountability Office (GAO) that were “sharply critical of the adequacy of NCUA supervisory procedures, and the competency of NCUA examiners.”

CFPB 43

CFPB NCUA Consumer Financial Protection Bureau (CFPB) Credit Union 43

PYMNTS

JUNE 6, 2019

government wants to change that. The SBA and NCUA collaboration is a three-year agreement that aims to build upon that momentum, and heighten CUs’ share of the SMB lending market. As it turns out, credit unions may not see small businesses as their first point of contact in customer outreach efforts, either.

Credit Union 51

Credit Union NCUA Small Business Online and Mobile Banking 51

PYMNTS

FEBRUARY 28, 2020

Governments are stepping up to protect CU members, too, adding a layer of assurance that those affected by breaches will not be irreparably harmed. Many are leveraging the Automated Cybersecurity Examination Tool, developed by the National Credit Union Administration (NCUA), to bridge this gap.

Credit Union 52

Credit Union CCPA Data Breach NCUA 52

PYMNTS

AUGUST 27, 2019

In the August Credit Union Tracker , PYMNTS explores the latest developments in the world of CUs, including new government initiatives in the U.S. The Financial Conduct Authority (FCA), a non-government financial regulatory body in the U.K., Developments From Around the CU Space. CUs are facing more scrutiny in the U.S.,

Credit Union 49

Credit Union NCUA Non-Bank Money Laundering 49

PYMNTS

MARCH 2, 2020

The February 2020 The Credit Union Tracker ® notes that many CUs already utilize the Automated Cybersecurity Examination Tool provided by the National Credit Union Administration ( NCUA ). The government is holding feet to the fire over cybersecurity, and credit unions are expected to have the same protections as any bank. CU in Court.

Credit Union 52

Credit Union Credit Union Service Organization NCUA CCPA 52

PYMNTS

SEPTEMBER 28, 2020

One such example is Ithaca, New York-based Alternatives Federal Credit Union , which teamed up with local government entities and other agencies in its county to pool forgivable loans of up to $4,000 apiece for Ithaca’s small businesses.

Credit Union 60

Credit Union NCUA Small Business Innovation 60