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September 01, 2022

New posts on the Compliance Blog cover BOD health insurance, ID requirements for youth account openings

compliance As credit unions work to meet the needs of more than 131 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:

Board of Directors and Reasonable Health Insurance: Regulatory Compliance Counsel Justin White details a series of NCUA Legal Opinion Letters that define, on a case-by-case basis, reasonable health insurance coverage for credit unions’ board of directors.

Lessons in Account Opening ID Requirements - Youth Edition: Senior Regulatory Compliance Counsel Rebecca Tetreau tackles the requirements for minors opening a credit union account. In the post, she covers the BSA requirements for a youth account, verification processes, Customer/Member Information Programs (CIP/MIP), and more.

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