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

Washington
Compliance When is e-Statement consent needed
WASHINGTON (3/23/09)—Credit union compliance officers know that a credit union cannot automatically convert members to e-statements without first getting their consent. They know this because the Credit Union National Association (CUNA) Compliance Challenge folks told them in January. Never ones to leave a compliance stone unturned, the CUNA compliance experts follow up this month and ask credit unions: Does this opt-in requirement hold true for members who have already signed up for home banking but still receive paper statements? Hmmm? The answer is that it depends on exactly what the member agreed to when they signed up for home banking. If the member only signed up for online account access, then the credit union would still need to obtain their consent to receive e-statements. However, many credit unions have members that signed up for both account access and e-statements, but are still receiving paper statements too. In this case, the credit union’s goal is to encourage members to “go green” and “opt-out” of their paper statements. To find out how to do this, and to delve into nine other hot compliance topics, read the March Challenge. Use the resource link below to access it.


RSS





print
News Now LiveWire
#creditunions celebrate #EarthDay2015 by being green aware with e-statements, hosting shred events, planting trees
8 hours ago
From @WSJ: 33% of companies say it took them more than 1 yr to discover a data breach. http://t.co/a0MxV68X6t http://t.co/lkglx6WvKs
12 hours ago
.@CAMCouncil taps into @MICreditUnions' career, tech training resources http://t.co/sotnfCUgIo
13 hours ago
#Inflation ticks up in March, still relatively flat #NewsNow #Market http://t.co/PyAvwdkJ4M
13 hours ago
#NewsNow Ill. league groups elect board, exec officers http://t.co/KAG8MtbGsv
14 hours ago