ViClarity Compliance Update

Regulators seek input on payment fraud; the Senate passes stablecoin legislation; and more.

The Dakota Credit Union Association’s dues-supported compliance solution –  ViClarity – is a world leader in credit union compliance. To read the complete articles/answers that are linked, you will need to log in with your username and password. If you have questions about establishing your members-only account with ViClarity, click here for detailed instructions or contact DakCU's John Alexander.​ 

​REMINDER! Regulation CC threshold changes are effective July 1, 2025. Is your credit union ready? Please reach out to ViClarity if you have questions!
 
June 2025 Q&A 
Q: Is Regulation E applicable to '18/65' checking accounts available to individuals who are either 18 years old or younger, or 65 years old or over? 
Q: Can an institution file a CTR 10 months later? If so, will they be penalized?

Get the answers here. 

The Fight Against Payment Fraud: What the Federal RFI Means for Your Credit Union
On June 15, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and Federal Reserve published a Request for Information (RFI) seeking public input on questions related to payments fraud and the overall safety of the payments system. Read more here. 

Eureka! U.S. Senate Passes the GENIUS Act
Recently, the United States’ Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), which is considered to be a significant development for the cryptocurrency industry. The GENIUS Act is a landmark piece of legislation and establishes preliminary guardrails for the stablecoin industry. Find out more here.

Racing to the Finish or Off a Cliff? Emerging Generative AI Fraud Trends Financial Institutions Should Know
For many in the financial services industry, the race to implement Artificial Intelligence (AI) in daily operations has felt like a sprint. But is the race to implement the emerging technology causing the industry to sprint towards a cliff or a finish line? Read the full article here.