August 16, 2018
In This Issue
Lagniappe Listserv
Have a question for your peers?

Email the Lagniappe Listserv at:
t o get input on compliance related issues, share best practices, or share policies, procedures and the latest in fraud awareness.   

ComplySight: FREE Recorded Webinars
Recorded Webinars - Watch on Demand!

ComplySight training webinars are available at any time, and registration is not required. 

NEW! Complaint Management System

 

Overview (3 minutes) 

Setting up Users (3 minutes) 

Creating a Complaint (9 minutes)

Managing Complaints (5 minutes)  

Managing Sub Categories, Member/Non-Members, and Branches (7 minutes)

Reports (2 minutes) 


 

New User Training and Tips

 

Introduction to ComplySight

Training & Tips - Where to Start? 

Training & Tips - Exporting 

Training & Tips - Reg Alerts, Etc. 

Training & Tips - Reports
 

Overview of ComplySight Enhancements and Features

 

Factor Grading Screen and Factor Grade Reports 

Factor Selection Navigation Screens 

Access Level 2.5 and How to Use It

 
Get immediate access to ComplySight with a 30-day, risk-free trial! Use prmo code: FREETRIAL810
New Laws & Compliance Conference Registration Open- hotel block closes September 3rd 

LCUL brings together top  presenters including
Veronica Madsen, Jonathan Kudulis, and Richard Handrick to keep you informed of the  latest legal and compliance changes that loom on the horizon.  

This conference is your one-stop shop to ensure you stay ahead of the updates that affect your credit unions and your membership.
 
Join us for topics that include:
  • The recent passage of SB2155 and what it means to credit unions.
  • Cybersecurity Compliance from A-Z
  • Update of Fair Lending and UDAAP
  • The Military Lending Act
  • Customer Due Diligence on Individual Accounts
  • NCUA Supervisory Priorities
  • Louisiana Legal Changes
  • Compliance Idol: peer-to-peer idea sharing that asks attendees to bring a best practice, a success story, a current challenge or pose a question to the group.
Click here for more information.
InfoSight highlight- A-Z Site Index Explanation

While InfoSight has many different "channels" of information, sometimes it may be a challenge to figure out which channel would contain the topic you're seeking.  Have you used the A-Z Site Map?  And - if you have - have you noticed several topics are listed twice!  That's because a topic may apply to two different channels.  For example, "Americans with Disabilities Act: ADA Audits and Website Accessibility" applies to both Advertising and Employment;" "Backup Withholding" relates to both the Accounts and Tax Issues channels.  In these cases, the content is the same but the related channel may be different.  And now you know!
Compliance Connection Video

Are you sure you're in compliance with the FinCEN requirements that were effective in May? You may want to take another look at the FinCEN Customer Due Diligence video from League InfoSight's CEO Glory LeDu to be sure!

Just a reminder that Compliance videos since 2016 can be found on YouTube at the Compliance Connection channel , where they are generally updated quarterly.
NCUA releases Letter to Credit Unions- Exam Initiatives

The NCUA has several initiatives in process to improve and modernize how the agency conducts examinations and supervision. The goals of these initiatives are to replace outdated, end-of-life examination systems, streamline processes, adopt enhanced examination techniques, and leverage new technology and data to maintain high quality supervision of insured credit unions with less onsite presence. The purpose of this letter is to provide more information on these ongoing initiatives. 


Source:  NCUA
Beneficial Ownership Rule's limited exception extension
 
FinCEN is extending the Beneficial Ownership Rule's limited exception for rollover and/or renewal of certain accounts for an additional 30 days, up to and including September 8, 2018.  

On May 16, 2018, the Financial Crimes Enforcement Network (FinCEN) issued a 90-day limited exceptive relief to financial institutions from the obligations of the Beneficial Ownership Rule for certain financial products and services, such as term share accounts or loan accounts, that automatically rollover or renew.  FinCEN issued the 90-day limited exception in order to determine whether, and to what extent, a further exception would be appropriate for such products and services. The exception was set to expire on August 9.
 
Source:  FinCEN
NCUA proposes loan regs amendments 
 
The NCUA Board has published [83 FR 39622] to amend its regulations regarding loans to members and lines of credit to members. The proposal would reduce regulatory burden by making amendments to improve clarity and to make compliance easier. The proposal would:
  • identify in one section all the various maturity limits applicable to federal credit union loans
  • better define the maturity date of new loans
  • more clearly express the limits on loans to a single borrower or group of associated borrowers
The NCUA Board also seeks comment on whether it should provide longer maturity limits for certain 1-4 family real estate loans. Comments on the proposal are due October 9, 2018.
 
Source:  NCUA
Upcoming Educational Events

August 28-29

September 5

September 11


September 24

September 25

September 25


September 27

October 10-11

November 13
 
For a complete listing of educational opportunities available from LCUL and to register, visit the  League website  and click on "Education"
Compliance Lagniappe is bi-monthly newsletter for affiliated credit unions of 
the Louisiana Credit Union League. For more information or for compliance inquires, please contact the League's compliance department at [email protected].