The Best Resources For Staying Up To Date on Compliance News
Compliance and regulations are on the mind of credit union executives nationwide. In a recent article, Looking to Shed the Weight of Compliance Burdens?, it was revealed that 98% of CU executives identify compliance burden as a top critical concern for their credit union in 2017. As new regulations such as CECL or TILA/RESPA are added and amended, credit unions may struggle to keep up and remain compliant. Below are three resources for executives to stay on top of the latest news in the compliance world:
1. Online resources. There are a wealth of online resources, blogs, forums, and more to subscribe to or simply just check periodically to stay up to date on the latest news. Here are some of our favorites:
https://www.cuinsight.com/ - A free resource with an option to receive daily emails that target all the issues credit unions face.
4. Your Core Provider. Credit union executives are busy people. Especially in smaller credit unions that can't afford the luxury of having a compliance officer. Having vendors on your side that you rely upon to stay on top of compliance is crucial. You should expect your credit union core software provider to keep you up to date on new regulations, and more importantly, to provide you with the tools and programs to stay compliant.