NJCUL’s 8th Annual Compliance Conference Helps CUs Navigate the Puzzling Landscape of Compliance

EAST WINDSOR, N.J. – On Friday, May 19th, the New Jersey Credit Union League hosted its 8th annual compliance conference. Under the theme of the conference, “Solving the Puzzle of Compliance”, the group heard from five speakers providing attendees best practices, tips, and practical solutions to help them identify the different parts of the puzzle called Compliance.

NJCUL’s Vice President of Compliance and Regulatory Affairs Nicola Foggie welcomed the credit union leaders to the event. Then, experts shared leading practices and lessons learned with valuable takeaways that could be immediately implemented.

The conference kicked off with Kristen Tatlock, from CU Service Network, as she shared information and tips to navigate the compliance landscape of emerging regulation, along with upcoming Home Mortgage Disclosure Act (HMDA) changes effective January 1, 2018, and Customer Due Diligence (CDD) requirements.

Kristen Tatlock, from CU Service Network, shared information on the upcoming Home Mortgage Disclosure Act (HMDA) changes.

NCUA Supervisory Examiner, Terry Adam, and Principal Examiner, Candace Doss, updated the audience on the agency’s 2017 examination priorities, as well as recent changes to the Military Lending Act (MLA) and Servicemembers Civil Relief Act (SCRA). John Collins of Alloya Corporate FCU educated the audience on how to create member value by taking risks with his presentation on “Enterprise Risk Management: Two Sides of the Same Coin”.

In the afternoon, leaders heard from the League’s own Compliance Manger, Donna Pancoast, demonstrating FREE compliance resources and solutions member credit unions have at their disposal.

NJCUL Compliance Manger Donna Pancoast demonstrates free compliance resources and solutions for member credit unions.

Attorney, Drew Edwards, gave an overview of the legal implications of the CFPB’s recent enforcement actions against a large asset credit union related to its collection activities, recent changes to MLA and the Telephone Consumer Protection Act (TCPA), and plastic card chargebacks proper procedures.

Kristen Tatlock was back for the final session of the conference with how social media, data breaches, and threats to member information continue to impose risk. Tatlock’s presentation reviewed requirements for privacy and member information security programs and the impact social media has on these programs. Throughout the session, Tatlock shared tactics credit unions can implement to protect the credit union and its members’ private information.

Foggie closed the conference with encouragement to seek the balance in their pursuit of compliance. Leaders left the conference with leading practices, tools, and insights to ensure their program, team, processes, and resources are right-sized for tomorrow's compliance challenges.

For additional photos from the event, visit the League’s Facebook page.

NJCUL recognizes the unique role credit unions play in the lives of their members and communities. Join us for bi-monthly FREE compliance webinars and regulatory updates. Click here to sign-up for updates and notifications of compliance events.

We are here to help with your compliance and regulatory needs. To contact us, reach out to the NJCUL Compliance Center at nfoggie@njcul.org or call us at 1-800-792-8861, ext. 112. Remember…Let us help you to Focus on Growth, Not Compliance!