NEWS: Please join us for The League’s Fall 2022 Compliance Roundtable, Sept. 8 at the Kalahari Resort in Wisconsin Dells. This in-person event will explore a variety of topics to help Wisconsin credit union staff. The cost is $249, and you can register easily online.
Here’s our agenda for the day:
8:30 am – 9:15 am Registration and Light Breakfast
9:15 am – 9:30 am Welcome and Announcements
9:30 am – 10:30 am OCU and Examination Updates
Tom Theune, Director | Office of Credit Unions and Kevin Lynch, Senior Financial Examiner | Office of Credit Unions
This discussion will include an overview of the CECL transition, the proposed IT regulation, and exam compliance issues. Tom Theune will also lead a discussion related to recent compliance complaints.
10:45 am – 11:45 am Are ARMS the Solution for Rising Rates?
Kevin Chiappetta, Senior VP Investment Services, President | QuantyPhi CUSO | Corporate Central Credit Union
In the credit union industry portfolio managers often incorporate adjustable-rate mortgage securities (ARMS) into their portfolio to keep up with a rising rate environment. What happens if ARMS do not perform as anticipated? Instead of finding out post purchase we will demonstrate how portfolio managers can develop an understanding of these products and determine the appropriateness of these products in their specific credit union portfolio.
11:45 am – 12:30 pm Credit Union Attorneys: What Do They Do?
Steve Heiderer, Senior Vice President & Chief Operating Officer | Guardian Credit Union
Credit Union Attorneys: What would you say that you do around here?
- A day in the life of a credit union attorney
- The intersection of compliance and legal issues in a credit union
- Hot legal topics for credit unions
12:30 pm – 1:15 pm Lunch
1:15 pm – 2:00 pm What Would You Do?
Kim Hoppe, Compliance Resource Analyst | The League
Inspired by the ABC News show and our 2022 Convention Keynote, John Quiñones, in What Would You Do? you will have the opportunity to share how you would tackle various scenarios. We will present the credit union situations and you will work in groups interactively discussing the solutions. All attendees will have an opportunity to participate in the conversations.
2:15 pm – 3:00 pm Exploring Adverse Action Notices
John Engel, Director of Legal Affairs | The League
Why are adverse action notices so troublesome? The notices are governed by two very different laws – FCRA and Reg. B – that overlap to some extent but have important differences.
- Do they apply to consumer applicants only or to business applicants too? It depends!
- Do they apply to loans only or to deposit accounts and employment applications? It depends!
- Must you give a notice for a loan approval? It depends!
- Is your vendor’s adverse action notice in compliance? It depends!
- We’ll explore the answers to these and other issues.
3:00 pm – 3:45 pm Financial Abuse
Paul Guttormsson, Senior Vice President & General Counsel | The League
We’ll look at the rules surrounding the financial abuse of credit union members. We’ll touch on red flags that can indicate financial abuse, and best practices for reporting it properly. The material will include abuse of the elderly, at-risk adults, and victims of human trafficking.