WASHINGTON – The Association of Corporate Credit Unions said it has decided to bring someone in-house to fulfill its vision of a Compliance Clearinghouse, a reversal of its previous plans. The ACCU announced earlier this year that it was creating the clearinghouse with the goal of solving the problem of varying interpretation of federal laws and rules across the corporate network. Originally the ACCU planned on retaining an outside law firm with contacts to federal agencies to perform the clearinghouse work. “We switched gears a little bit. Instead of outsourcing this whole arrangement to a law firm we decided to hire another person in-house,” said ACCU Executive Director Mike Canning. Canning said after surveying its members they felt it would be difficult for an outside law firm to try and work with regulators and interpret regs and communicate that to operational professionals. “The trick is kind of marrying the guidance and the laws into a nice package where you can present your members with manual check lists and other aids,” said Canning. Currently there are two finalists for the job – one a CPA and the other attorney. “I have no preference,” said Canning. Once the new person is on board, ACCU will have three staffers: Canning, Program Coordinator Joshua Jones and the new compliance specialist.

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