Credit Union Compliance Update
Staying on top of compliance requirements is a key priority for Credit Unions in order to prevent reputational damage, as well as financial sanctions such as fines, as well as lending and spending restrictions.
Wellington IT's Compliance Q2 2017 update highlights the following Credit Union Regulatory Requirements & compliance news:
o Credit Reporting Act 2013: Central Credit Registry
o Anti-Money Laundering: EU 4th Directive (2015/849)
o EU 2016/679: General Data Protection Regulation (GDPR)
o WannaCry & Ransomware