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CU System
N.Y. association takes compliancelegal conference to Puerto Rico
ALBANY, N.Y. (11/22/10)--The Credit Union Association of New York recently offered a Compliance and Legal Conference for Puerto Rico and U.S. Virgin Island credit unions in San Juan, Puerto Rico.
Luis Lopez, CEO of Abraham Rosa Cooperativa, starts the Compliance and Legal Conference with introductions of Credit Union Association of New York Senior Vice President/General Counsel Michael Lanotte and Director of Compliance Michael Carter as presenters.
Michael Lanotte, senior vice president/general counsel for the Credit Union Association of New York, leads 44 representatives of the Puerto Rico, St. Thomas and St. Croix credit union movements through the ins and outs of the new Consumer Financial Protection Bureau. (Photos provided by the Credit Union Association of New York)
The Nov. 4 event attracted 44 attendees from credit unions, consulting firms and other cooperativas. Michael Lanotte, the association’s general counsel and senior vice president of association services, and Michael Carter, the association’s director of compliance, led the conference. "When credit union entities come together as they did for this conference, everyone wins--especially the credit union movement," Lanotte said. "Its truly representative of the "people helping people' commitment credit unions have made thoughout the world." During the conference, Lanotte provided an overview of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Carter offered an update on recently passed regulations. The pair also presented a compliance workshop, posing compliance scenarios and working through potential issues and solutions as a group. The conference was offered as part of the association’s ongoing partnership with Puerto Rico and the Virgin Islands through the World Council of Credit Unions (WOCCU) International Partnerships Program. The groups have partnered since 2005. This conference marked the fourth collaborative event. “The association’s partnership with Puerto Rican credit unions has been and will continue to be an active one,” Carter said. “The group has a Compliance Officers Association, which I look forward to working with to help provide up-to-date compliance information.” "It reflects the true cooperative nature of our industry and shows the value in sharing resources through this partnership," said Victor Miguel Corro, WOCUU senior manager of international partnerships. "I received such positive feedback from the credit unions in Puerto Rico."
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