ComplySight Newsletter - June 2023
Volume 8, No. 1 | June 1, 2023
Welcome to the June 2023 issue of the ComplySight Newsletter!
We have a lot of exciting updates, articles, and new features that will be coming your way! In this issue we have articles on regulatory hot topics and the CFPB “junk fees.” We also provide you with a breakdown of the most recent regulatory updates.
Kirsten Cameron| MJ-CRM, MS-A, CUCE, CCUIA, BSACS
Relationship & Content Manager
League InfoSight & CU Risk Intelligence
CURI and League InfoSight
CU Risk Intelligence (CURI) is excited to be working more closely with League InfoSight with Glory LeDu being named CEO. Glory continues to remain the CEO of League InfoSight in addition to her role as the CEO of CURI. Amy Wargo continues to serve as the Director of Risk Management for the CURI suite of compliance and risk management products, including ComplySight.
CURI provides the oversight and support of the ComplySight product, and we know our collaboration with League InfoSight will be impactful for our member credit unions. We are both aligned in our goals to provide high quality and cost-effective solutions. We look forward to what the future brings.
ComplySight Content Review
This year we will be reviewing all of the ComplySight content and updating applicable content in the platform. We want to ensure that content is up to date and easy to understand to most effectively help you manage regulatory compliance.
2023 Regulatory Hot Topics
While the National Credit Union Administration (NCUA) outlined it's 2023 Supervisory Priorities this year; there are multiple blogs, regulatory updates, enforcement trends, and more, all of which tell us there are plenty of "hot button" issues that credit unions should consider. From deposit accounts to lending, from BSA to cybersecurity, this article covers the eight most pressing issues of 2023 and offers advice on what you need to be doing to prepare your credit union.
Unpacking Junk Fees - Steps to Take Now
In early March the Consumer Financial Protection Bureau (CFPB) issued a report highlighting their scrutiny of "junk fees". While this scrutiny is no surprise, it is a signal that they are launching a targeted effort to protect consumers by reducing these fees charged by financial institutions.
New ComplySight Training
In addition to updating ComplySight content, we will be updating our training as well. We will be working to update and add new videos in conjunction with the user manuals for both the compliance and complaint modules.
In future newsletters, we will provide links to short videos that will provide some insight on how you can better utilize the content in ComplySight to monitor your regulatory compliance and determine further compliance needs. We will demonstrate ways that you can build out the platform and fully utilize the complaint management system.
Watch for new trainings and if you have any additional ideas for short video trainings, feel free to submit a suggestion on to Info@CURiskIntelligence.com.
Regulatory Alerts, Rule Amendments, and Content Updates
When a new or amended regulation is finalized by a regulatory agency, ComplySight is updated, and the information is delivered in the form of a Regulatory Alert or a ComplySight Content Update Notification. Regulatory Alerts are sent whenever new content is added to ComplySight. Content updates are sent to notify credit unions of changes to existing content within the system.
« Return to "Resources"