One of the benefits of your credit union's League membership is access to InfoSight--a valuable online compliance resource. This newsletter contains some timely highlights, and access to InfoSight is a benefit of League affiliation, so it is password-protected. If you have a specific compliance issue or concern, contact our Consulting Department at (800) 285-5300. Replies to this email will be directed to SVP, League Services & Regulatory Analysis Joe Guilfoy .
InfoSight Highlight
Important Information for Chrome Users of InfoSight
A quick note for our InfoSight users on Google Chrome. Sometime in the past few weeks, Google Chrome made a change where links that are set to open in new windows and also set to have external link warnings are blocked as pop-ups by default. This may affect some of the links (e.g., FFIEC, FinCEN, etc.) on InfoSight. If you click on a link, receive a message that the link is going to a third party site, and click OK on the message but the site does not open, you will need to update the pop-up setting for InfoSight.

To update this setting, locate a page icon with a small red “x” on it in the upper right corner of the URL bar for Chrome. Click the icon to expand the pop-up blocker notification. You will need to change the setting to “Always allow pop-up and redirects from http://in.leagueinfsight.com .” (Note: your InfoSight URL will be different than the example on the screen shot below.) Changing this setting will allow you to view all of the links for InfoSight but will not change your pop-up blocker settings for other sites.
Compliance Videos
Compliance Connection Video
In this video , League InfoSight CEO Glory LeDu talks about the highlights from the 4 th Quarter of 2018 and the 1 st Quarter of 2019.

When S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, passed in 2018 there was a lot to understand! Glory LeDu, League InfoSight CEO, provides Part 1 in this short video to break it down for you.

Just a reminder that Compliance videos since 2016 can be found on YouTube at the Compliance Connection channel , where they are generally updated quarterly.
Compliance News
Bureau: Reports of widespread elder financial abuse
The CFPB has released a report,  Suspicious Activity Reports on Elder Financial Exploitation: Issues and Trends , about key facts, trends, and patterns revealed in "elder financial exploitation" (EFE) SARs—filed by banks, credit unions, casinos, and other financial services providers. The Bureau analyzed 180,000 EFE SARs filed with FinCEN from 2013 to 2017, involving more than $6 billion. This first-ever public analysis provides a chance to better understand elder fraud and to find ways to improve prevention and response. The Bureau said—
  • In 2017, financial institutions filed 63,500 SARs reporting elder financial abuse. Yet these SARs likely represent only a tiny fraction of the actual 3.5 million incidents of elder financial exploitation estimated to have happened that year.
  • Elder financial exploitation isn’t just happening at banks or credit unions. Money services businesses, used by many people to wire money, have filed an increasing share of these SARs (58 percent in 2017).
  • Older adults ages 70 to 79 lost on average $43,300. And when the older adult knew the suspect, the average loss was even larger—about $50,000.
  • Fewer than one-third of elder financial exploitation SARs specify that the financial institution reported the activity to adult protective services, law enforcement, or other authorities. If the financial institution is not reporting to these authorities, this is a missed opportunity to strengthen prevention and response.
CFPB system for submitting prepaid account agreements
The Consumer Financial Protection Bureau has  announced  a streamlined electronic submission system for prepaid account issuers to submit their account agreements (only pertaining to issuers that have 3000 or more open prepaid accounts) to the Bureau. Prepaid issuers can register for the system now before the April 1, 2019 effective date of the Bureau’s prepaid rule.

The Bureau’s prepaid rule includes a requirement that prepaid account issuers submit their prepaid account agreements, including fee information, to the Bureau. Beginning today, prepaid account issuers can  register  for  Collect , the Bureau’s online channel for submissions. All prepaid account agreements offered as of April 1, 2019, must be uploaded to Collect by May 1, 2019. After that, prepaid account issuers must make a submission to the Bureau within 30 days whenever a new agreement is offered, a previously submitted agreement is amended, or a previously submitted agreement is no longer offered.
 
Source: CFPB
Other Articles of Interest
Advocacy Highlight
This week Ahead in Washington
To stay abreast of the issues on which CUNA has provided input to lawmakers and regulators, here is a list of those topics .
 
CUNA Advocacy Update
The CUNA Advocacy Update is published at the beginning of every week and keeps you on top of the most important changes in Washington for credit unions--and what CUNA is doing to monitor, analyze, and influence government agencies and federal law. To receive this update, click on “Get CUNA Updates” on the CUNA Advocacy page . Additional Advocacy efforts may also be found under CUNA’s Removing Barriers blog . With the recent updates to CUNA’s website, Advocacy information has also changed. To view recent advocacy issues and see ways your credit union can become involved, visit the Priorities or Actions pages.
Weekly Regulatory Advocacy Report
The Weekly Advocacy Report provides links to information about a number of recent League, CUNA and NCUA regulatory and advocacy activities. 
   
Upcoming Education Sessions
The League has several education sessions coming up. Several focus on compliance issues. They are listed in calendar format on the League website.
   
League Consulting Department Staff
(800) 285-5300
Compliance Calendar
There's more available from InfoSight
InfoSight content is available from the League's website . Visit anytime to get sample policies, links to federal regulations and summaries of issues that are hot-topics at your credit union. 
 
Access to InfoSight is a benefit of League affiliation, so it is password-protected. If you don't have a password or if you have forgotten yours, click on the tan "Log In" button in upper right corner of the site; a box will open. Click on the blue wording to get your password.