If you’re reading this, you’re likely familiar with AffirmX’s apropos financial services news site, Risk InboX. Every business day for the past year, our staff has been curating content for bank and credit union personnel in order to keep you informed of important happenings in the industry. We now present a list of the five most popular articles, based on your clicks.
#5: SAFE Act Exceptions: Friend or Foe?
They say there’s an exception to every rule. In the case of the SAFE Act, there are actually two major exceptions to keep in mind. These exceptions can be your institution’s best friend or your compliance enemy. Read article.
#4: What Your Institution Can Do about Ebola (and Other Pandemics, Too)
Although it’s unlikely your institution will be affected by Ebola, there are other seasonal “pandemics” that could take a toll on your operations if left unchecked. CUNA has prepared a guide for what you can do to limit the effect of illness on your institution. Read article.
#3: What One Tiny Credit Union’s Huge BSA Fine Means to Other Small FIs
$3.6 million North Dade Community Development Federal Credit Union in Miami, FL, has been fined $300,000 for violations that federal regulators claim may have placed the entire U.S. financial system at risk. To put that number in perspective, that would be like a fine of about $130 billion for Wells Fargo. The fine came with a warning from federal officials that risky money services business customers are flocking to smaller financial institutions because big banks have increased scrutiny. Read article.
#2: How Widget FCU Uncovered $10 Million in Fraud (Part I)
Part I of this financial crime story tells the tale of how a cautious CEO and her IT staff uncovered a series of linked fraudulent accounts. To be continued… Read article.
#1: Casual Conversations with Members Can Lead to Discrimination Claims
Does your staff understand that a seemingly casual conversation with a member could potentially lead to a claim of discrimination? The example provided in this article has likely occurred in your credit union. Read article.
