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The CAN-SPAM Act places restrictions on companies sending commercial electronic messages (CEMs) to people living in Canada.
Although the new anti-spam requirements will apply to U.S. credit unions that send marketing messages to members who reside in Canada, there is a grandfather clause for existing credit union members—and a safe harbor for emails that comply with the CAN-SPAM Act—that should help limit compliance burdens on U.S. credit unions.
For TIPs Bulletin 14-14, click here.
SAR Stats Report
The Financial Crimes Enforcement Network (FinCEN) has released the very first issue of SAR Stats (Suspicious Activity Reporting), the successor publication to By The Numbers.
FinCEN anticipates issuing more periodic updates to SAR data beginning this fall.
Update to Unclaimed Property Holder Handbook
The California State Controller’s Office has made updates to its Unclaimed Property Holder Handbook.
The following sections were updated: aggregate reporting; holder due diligence; and owner detail sheet (UDS-1) instructions.
For questions, contact the Holder Outreach and Compliance Unit at 916-464-6088 or UPDHolderOutreach@sco.ca.gov.
NEW SPANISH TILA-RESPA TOOLKIT
updated 07/28/15 09:18 AM
Plus, Unclaimed Property Seminar
The Consumer Financial Protection Bureau (CFPB) has released a Spanish edition of “Your Home Loan Toolkit,” the consumer guide that is designed to replace the current Settlement Cost booklet when the TILA-RESPA Integrated Disclosures rule goes into effect on Oct. 3.
POLICYWORKS LEAGUE COMPLIANCE SITE
updated 07/21/15 08:59 AM
League Member-Exclusive Content
The PolicyWorks League members’ only website provides member credit unions with ongoing compliance support as benefit of League membership. The website houses a library of compliance information and communications to assist credit unions with their compliance needs.