Insider Dealing and Conflict of Interest - Active NCUA Letter from 1986

Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

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Insider Dealing and Conflicts of Interest in Credit Unions

This episode of Samantha Shares covers the National Credit Union Administration's (NCUA) advisory on insider dealing and conflicts of interest within credit unions, outlined in their letter number Eighty six dash C U dash eighty four. It starts with an introduction to the podcast's sponsor, Credit Union Exam Solutions Incorporated, highlighting their expertise in assisting with NCUA examinations. The episode then delves into the NCUA letter, emphasizing the agency's findings from a two-year comprehensive report on insider dealings and conflicts of interest, which, although minimal in number, have caused significant financial losses. The agency is taking steps to improve education, investigation, and enforcement to prevent such unethical practices, including adopting new criminal referral forms, hiring litigation specialists, and developing a model examination with NASCUS. The letter concludes with guidance for credit union officials and employees on avoiding personal gain from their positions, other than through normal salary and benefits, and encourages reporting suspected criminal activities.

00:00 Welcome to Samantha Shares: NCUA Advisory Overview
00:19 Sponsor Spotlight: Credit Union Exam Solutions
00:58 Insider Dealing and Conflicts of Interest: An In-depth Analysis
03:38 Agency's Response and Preventive Measures
05:51 Closing Remarks and Contact Information

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