Start the New Year with a Website Compliance Review

Compliance and all its associated rules and regulations are familiar to anyone who works in the credit union industry. From opening a share account for a new member to advertising a loan to hiring staff—there’s a regulation for just about everything you do. And that includes building and maintaining your website.

Your website must comply with a variety of rules and regulations from NCUA, OFIS, and the Federal Reserve Board. At least once a year (if not quarterly), your credit union should take time to review your site to ensure that it is in compliance with a variety of consumer protection and credit union laws and regulations, including:

• Truth in Lending (Regulation Z)
• Truth in Savings (NCUA Rules & Regulation Part 707)
• Equal Credit Opportunity Act (Regulation B)
• Funds Availability Act (Regulation CC)
• EFT Act (Regulation E)
• COPPA (Children's Online Privacy Protection Act)

Consider these questions:

• What, if any, regulatory requirements your site has not met?
• What steps do you need to take to correct each case of non-compliance?
• Do you need to add any terminology or disclosures to your site to make it compliant?

With the seemingly constant changes in the regulatory landscape, you’ll want to take steps today to ensure that your website is in compliance with regulatory requirements. (Think of it as your New Year’s resolution!)


Related Services: Website Compliance Review, Web Development