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New on the Compliance Blog: Preventing account abuse, CFPB guidance on direct dispute violations
As credit unions work to meet the needs of more than 134 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.
Here's a roundup of what's new this week:
Catch Me If You Can: Avoiding Share Account Abuse: Regulatory Compliance Counsel JaMonika Williams offers several ways credit unions can prevent checking account abuse at the beginning and possible ending of a member relationship. Williams also shares steps to take when reviewing applications for credit union membership.
CFPB Warns of Possible Direct Dispute Violations: Director of Regulatory Compliance Nick St. John discusses what to look for when handling direct disputes under the Fair Credit Reporting Act (FCRA). St. John digs into the basics of the FCRA, sharing recent guidance from the CFPB on assessing the accuracy of disputes in credit reporting information.
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