The Credit Union Association of New York offered its second Compliance & Legal Conference Nov. 29 for Puerto Rico and U.S. Virgin Island credit unions in San Juan, Puerto Rico. The event attracted more than 30 attendees.
Michael Lanotte, association general counsel/senior vice president, and Michael Carter association director of compliance, led the conference.
"When credit unions gather together as they did for this conference, everyone wins--especially the credit union movement," Lanotte said. "It's representative of credit unions' 'people helping people' philosophy that is shared throughout the world."
Lanotte provided an update on debit interchange and the Consumer Financial Protection Bureau and discussed proposed regulations. Carter offered an update on recently passed regulations.They engaged attendees in a compliance workshop, in which they posed several scenarios, worked through potential issues and came up with solutions as a group.
The conference was part of the association's ongoing partnership with credit unions in Puerto Rico and the Virgin Islands through the World Council of Credit Unions (WOCCU) international partnerships program.
The groups have been partners since 2005. The conference marked their fifth collaborative event.
"I admire the efforts of CUANY to ensure that credit unions in Puerto Rico and the U.S. Virgin Islands have relevant and accurate information on the ever-changing topic of compliance," said Victor Miguel Corro, vice president, foundation and international partnerships, WOCCU. "It's the top priority for those who participate in the partnership."
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