Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
12 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
17 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
18 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
20 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
20 hours ago