What should credit unions focus on in 2018?
In December 2017, the National Credit Union Administration (NCUA) announced their primary areas of supervisory importance for 2018. These are the areas that credit unions should focus on when it comes to achieving compliance in 2018:
- Data Security
- Bank Secrecy Act Compliance
- Internal Controls and Fraud Prevention
- Interest Rate/Liquidity Risk
- Automobile Lending
How can credit unions ensure compliance in 2018?
At ConServe, we offer collection services to credit unions that emphasize compliance, ethics and integrity. We’ve identified three crucial categories that credit unions should address to be compliant in 2018:
- Information sharing and privacy
- Disputes and Reporting
- Document Management