Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
SunCorp Upgrades International Wires System
WESTMINSTER, Colo. (11/25/13)--System United FCU, Westminstser, Colo., has introduced several enhancements to its International SunWires System.
 
The new features are in compliance with Consumer Financial Protection Bureau remittance regulations, SunCorp said. Other features make the system more user-friendly and secure for credit union staff.
 
For credit unions subject to the new CFPB regulations, the International SunWires System ensures compliance by:
  • Providing a completed member receipt/disclosure form that contains required information on exchange rates, fees, taxes, and funds availability;
  • Automatically enforcing a 30-minute processing hold on verified transfers to allow for potential member cancellations and refunds; and
  • Allowing users to designate transfers as either consumer or business use for determining transaction thresholds for possible CFPB compliance requirements.
Other processing enhancements include transaction templates for recurring entries and several new reporting options. User security options have also been expanded to allow credit unions to customize staff access to different functions in the system.


RSS





print
News Now LiveWire
Matz: Revised @TheNCUA #RBC rule for #creditunions 2 B unveiled 1/15/15, 90-day comment period to follow #newsnow http://t.co/qABhvghSTU
21 hours ago
Just announced: @TheNCUA board will consider a revised risk-based capital rule at its Jan 15 mtg. See #NewsNow Monday for more info.
22 hours ago
Nearing one-yr anniversary of data breach, @Target asks for class action suits to be dismissed via @BloombergNews http://t.co/kra6kupd35
23 hours ago
.@PeoplesTrustFCU has been recognized with the Juntos Avanzamos designation by @Cornerstone_CUL for its service to the Hispanic community
1 Day ago
#NewsNow: Rep. Hensarling names #HFSC subcommittee chairs. http://t.co/dXAMZdpn1p
1 Day ago