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From the April-15, 2009 issue of Credit Union Times Magazine • Subscribe!
NCUA Issues Questionnaire on Remote-Deposit Capture
Credit unions that offer remote-deposit capture can make use of the NCUA's new questionnaire to evaluate risks and control practices.
The seven-page document, which was issued last week, deals with issues such as the extent of the credit union's risk assessment process, the frequency with which members' use of the service is monitored and updating the credit union's business continuity to reflect the use of the program.
Remote-deposit capture systems allow financial institutions to receive digital information from deposit documents captured at remote locations.
Earlier this year, the agency advised that credit unions be certain that contracts and customer agreements clearly identify the roles and responsibilities of all parties involved to minimize exposure to legal and compliance problems.
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