ViClarity Compliance Update

AI Webinar; NCUA Board Changes; Ethical Considerations to AI Implementation; 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.​ 
​
Town Hall Webinar - AI: Risk Mitigation Tactics for Common Implementation Processes
May 21, 2025 1:00 PM CST / 12:00 PM MST
As Artificial Intelligence (AI) becomes more widely adopted and integral to credit union processes, you need to know how to create appropriate risk mitigation tactics. In this quarter's town hall webinar, ViClarity Compliance Officer Kayley Grant will share how to mitigate potential risks and liabilities in your compliance operations while creating a safe environment for AI to help your credit union prosper. Join us to learn about AI implementation risks and benefits, the AI regulatory landscape, and how it all affects your credit union! Register here.

Changes: Trump Administration Dismisses Two NCUA Board Members
The Trump Administration has dismissed two of the three members of the National Credit Union Administration (NCUA) Board of Directors and their staff. The two dismissed directors were former Chairman Todd Harper and newest Board Member Tanya Otsuka. Read more here. 

Plastic Decisions: US District Court Vacates CFPB Credit Card Late Fee Rule
A district court in Fort Worth, Texas has vacated a Consumer Financial Protection Bureau (CFPB) rule capping credit card late fees at $8. The decision comes from a lawsuit filed by various groups including the American Bankers Association, the US Chamber of Commerce, and the Consumer Bankers Association. Find more here. 

Money Money Money! Considering Resource Allocation When Mitigating Fraud
Financial institutions grapple with fighting fraud on a nearly minute-by-minute basis. From one fraud scheme to the next, it would seem that scams are evolving faster than any one institution can adapt to the change. But even with the ever-changing world of fraud, some financial institutions remain reticent to allocate resources to tools that can be used to mitigate fraud. Learn more here. 

Poisoning the Apple: Financial Institutions’ Ethical Considerations to AI Implementation
The use of Artificial Intelligence (AI) can pose some of the greatest ethical conundrums of modern times. AI poses unprecedented adaptability and presents a virtually unlimited number of facets that can be implemented to make nearly anything easier. It can also cause harm to individuals, companies, and municipalities, present unique challenges, and provide aid to bad actors just as it does to those that abide by the law. Continue reading here.