Are you responsible for the task of policy development at your credit union but struggle with the how and where to start? PolicyWorks is excited to introduce our newest service, PolicyAid. PolicyAid is a comprehensive, online, policy library that will help your credit union develop and maintain policies as regulations change.
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There is no regulation that states you must have a succession plan, it’s simply good business practice. A succession plan is also something your regulator may ask to view and the lack of one could impact your Examination Strategic Risk Rating. So if succession planning is on your to do list then here are a few things to consider.
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Whether you are new to indirect lending or a seasoned veteran, keeping a watchful eye on this segment of your business is a must do. An improperly managed program can quickly have negative consequences on all of your risk areas from credit risk to reputation risk.
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Given the natural disasters that have impacted our country this year from floods, tornadoes, fires, earthquakes, and hurricanes, as well as the marking of the 10-year anniversary of 9/11 this week, I thought I would take this opportunity to remind you of your responsibilities as it relates to Disaster Recovery and Business Continuity.
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The summer is quickly winding down. The kids are back in school and the Labor Day weekend is right around the corner so what better way to welcome Fall then to get back on track with some of those compliance projects you may have been holding off working on. The next major compliance date is quickly approaching. Hopefully you haven’t forgotten about your old friend… the CARD Act. The Final rule is effective October 1, 2011 and I thought I would take this opportunity to share some of the highlights.
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Who doesn’t love to get something for free! The Great Iowa State Fair starts today and as a regular attendee, I will be partaking in the freebies…free concerts, free koozies, free pencils, free Iowa State University football posters (yes, they have the Iowa Hawks too!) and the list goes on….
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Don’t forget… if you implemented the general risk based pricing notice last fall, you must now add two more RBPN forms to your processes. Dodd Frank amended the risk based pricing rule to require disclosure of credit scores and information relating to credit scores in risk based pricing notices, if a credit score of the consumer is used in setting the material terms of credit.
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