Staff from the New York Credit Union Association provided legal and compliance updates at a conference in San Juan, Puerto Rico, last week. Hosted by the National Federation of Community Development Credit Unions, the event focused on CDFI certification and the benefits that the designation can bring to the island’s credit unions.
New York Credit Union Association General Counsel Henry Meier and Director of Compliance Linda Bow presented industry and compliance updates during the conference. The two focused on compliance issues related to the Americans with Disabilities Act, the Bank Secrecy Act, anti-money laundering and more.
The event also provided Meier and Bow with the chance to update attendees on the status of the New York Credit Union Foundation’s disaster relief grants for credit union employees and volunteers who were affected by Hurricane Maria in September. As previously reported, the storm caused widespread destruction, major flooding and massive power outages on the island.
The Foundation is still accepting donations to assist with relief efforts in Puerto Rico.