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| Compliance: Vendor Due Diligence, 'Junk Fees', Par Value Share |
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Three hot topic issues – third party vendor due diligence, best practices to comply with CFPB “junk fees” regulations, and a par value share refresher – are the latest Compliance Blog entries available to member credit unions from the America’s Credit Unions Compliance team.
• “Third Party Vendor Due Diligence” discusses vendor management guidance including how a credit union can manage their relationships with third party vendors to control associated risks. It takes a look at guidance from the NCUA, FFIEC and CFPB.
• “Junk Fee Wars” examines the CFPB’s action against Navy Federal Credit Union and suggests that credit unions review and tailor their policies to ensure fees are reasonably disclosed and foreseeably charged to a member with the help of credit union counsel.
• “Par for the Course” takes readers back to the basics by discussing par value share as set by the Federal Credit Union Act. This entry covers the basic rights of all credit unions.
The Compliance team provides new blog entries every Tuesday and Thursday. Subscribe to receive email updates from the Compliance Blog.
Copyright 2024. America's Credit Unions. (link) |
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