By Rohin Tagra, Founder & CEO of Azimuth
To buy or build? This dilemma continues to be debated across institutions of all sizes, but even more so among credit unions. This is especially the case for compliance management platforms.
The NCUA has made stern promises to increase oversight. Last year, NCUA Chairman Todd M. Harper advised: “Since joining the board, I have focused on strengthening the NCUA’s consumer financial protection and fair lending resources. Given the consumer compliance examination program for comparably sized community banks, our program’s scope is insufficient, especially for those credit unions between $1 billion and $10 billion in assets. We should be doing more, and we can do more.”
In this Credit Union Times article, Rohin Tagra discusses why today’s approach to compliance management is no longer sustainable and why how credit unions must embrace full-population compliance testing to better manage compliance efforts and ensure a fair and equitable experience for members.
Read the full article here!