July 19, 2018
In This Issue
Lagniappe Listserv
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t o get input on compliance related issues, share best practices, or share policies, procedures and the latest in fraud awareness.   

ComplySight: FREE Recorded Webinars
Recorded Webinars - Watch on Demand!

ComplySight training webinars are available at any time, and registration is not required. 

NEW! Complaint Management System


Overview (3 minutes) 

Setting up Users (3 minutes) 

Creating a Complaint (9 minutes)

Managing Complaints (5 minutes)  

Managing Sub Categories, Member/Non-Members, and Branches (7 minutes)

Reports (2 minutes) 


New User Training and Tips


Introduction to ComplySight

Training & Tips - Where to Start? 

Training & Tips - Exporting 

Training & Tips - Reg Alerts, Etc. 

Training & Tips - Reports

Overview of ComplySight Enhancements and Features


Factor Grading Screen and Factor Grade Reports 

Factor Selection Navigation Screens 

Access Level 2.5 and How to Use It

Get immediate access to ComplySight with a 30-day, risk-free trial! Use prmo code: FREETRIAL810
League InfoSight Product Survey- NEW!!! 

  It's that time of year again!  In an effort to make sure League InfoSight products are effective and meeting your needs, we are conducting our annual survey!  Please take a few minutes to answer this 2018 League InfoSight User Survey so League InfoSight is better able to assist credit unions by prioritizing product development and determining what additional products and services would be most impactful based on your needs!

Please Note: This is a new survey, separate from the survey from two weeks ago. We value your input so please take a few minutes to complete this survey today!
Compliance Connection Video- New!

League InfoSight CEO Glory LeDu has created the following video to remind you of changes in the 2nd Quarter and to let you know what's ahead in the 3rd Quarter of 2018 . Additionally,  here is a more detailed review of the requirements for FinCEN Customer Due Diligence that was effective in May, 2018 . You will want to review this content to be sure you are in compliance!
Just a reminder that Compliance videos since 2016 can be found on YouTube at the Compliance Connection channel , where they are generally updated quarterly.
LCUL Distributes 2018 State Legislative Session Recap, New Laws Affecting Louisiana CUs

The Louisiana State Legislature was in session from March 12 through May 18, reconvening in three special sessions: the first from February 19 to March 5, the second from May 22 to June 4, and the third from June 18 to June 24.  During the 2018 session, a number of bills passed that will impact financial institutions.
What does this mean for Louisiana credit unions? In the latest issue of LCUL's Pelican Politics, we collaborated with strategic partner Kudulis, Reisinger, and Price LLC (KRP) to provide a summary of those bills and the impact they will have on Louisiana credit unions.
These topics and more will be covered at LCUL's upcoming New Laws & Compliance Conference set for September 18-19 at L'Abuerge Baton Rouge.
FCRA changes in S. 2155 (P.L. 115-174)
Q. Does S. 2155 (now Public Law 115-174) impose any additional FCRA obligations on credit unions?
A. The compliance obligations contained in the new law directly impact credit reporting agencies, not credit unions. However, credit unions as users of credit reports will experience changes in the way certain information is reported and/or restricted by credit bureaus.

The  Economic Growth, Regulatory Relief and Consumer Protection Act (EGRRCPA) of 2018 (S. 2155, P.L. 115-174), signed into law on May 24, 2018, enhanced consumer protections under the Fair Credit Reporting Act in the following ways:

Section 301:
  • Requires credit bureaus to provide fraud alerts on consumer credit reports for at least one year (up from 90 days) when notified by an individual who believes he or she has been or may become a victim of fraud or identity theft; and 
  • Provides consumers the right to place (and remove) a security freeze on their credit reports free of charge (in the case of a minor, the parent or authorized representative may request the credit freeze).
Section 302:
  • Mandates that certain medical debts incurred by a veteran be excluded from the veteran's credit report until one year has passed from when the medical service was provided (credit bureaus had already implemented a 6-month delay);
  • Requires the removal of veterans' delinquent medical debts from credit reports once they are fully paid or settled;
  • Establishes a dispute process and verification procedures for veterans' medical debts contained in consumer credit reports;
  • Requires the Veterans Administration to establish a database within one year to allow consumer reporting agencies to verify whether a debt furnished to a consumer reporting agency is a veteran's medical debt subject to these new protections; and
  • Requires free credit monitoring to active duty military members that would alert them to material changes in their credit scores.
Section 602
  • Allows consumers to request information related to a default on a qualified private student loan be removed from a credit report if the borrower satisfies the requirements of the lender's loan rehabilitation program (as approved by the lender's regulator).
This is just a brief snapshot of these provisions - more details will follow in the coming days, weeks and months as the financial services industry and regulators work through all of the various changes.
Source: CUNA Compliance Blog
Credit Unions begin using new rules "For Mobile Deposit Only" 
New Federal Reserve Board rules that took effect July 1 now have many credit unions scrutinizing what's written on the back of checks they deposit, and credit unions that aren't doing so could face more indemnity claims, according to one compliance expert.
The new rules are part of the Federal Reserve Board's Regulation CC, which governs things such as check collection and funds availability, and they reflect the country's growing digitization of check collection processes.
Source:  CU Times