Posted by Anthony Demangone
Here are a few dusty items from my desk. Please do not confuse dusty with unimportant.
Twitter. It seems that everyone is on Twitter. Many credit unions are joining the movement. Here's a nice blog post (CU Grow) on managing Twitter-related risks.
Commercial Real Estate Workouts. NCUA issued Letter to Credit Unions 10-CU-07 to to share a policy statement supporting prudent commercial real estate
(CRE) loan workouts. According to NCUA, the policy statement provides guidance for examiners, and
for financial institutions that are working with CRE borrowers who are
experiencing diminished operating cash flows, depreciated collateral values, or
prolonged delays in selling or renting commercial properties.
College football and compliance officers. You may not know this, but major college athletic programs have a TON of compliance staff to ensure that NCAA rules are followed. (I almost typed NCUA out of habit.) My colleague, Steve, is a big Michigan fan. That football program is in warm, if not hot water, over what appears to be a weak compliance program. Suggestions were made by compliance staff, and those suggestions were just not implemented. Read all about it here. This is just the latest example of the trouble you get into when compliance or internal audit does not have enough firepower or muscle to make sure findings are implemented.
RESPA Required Use. NAFCU has issued a Regulatory Alert 10-EA-09, to highlight the proposal.
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