29 THE NAFCU JOURNAL JULY–AUGUST 2022 NAFCU 2021 Annual Report 6 The NAFCU regulatory compliance team works daily to assist credit unions with all facets of compliance and ensures they have the tools and resources to tackle emerging issues. In 2021, the team answered more than 5,800 member questions through our direct compliance assistance program. In addition to our compliance hotline, NAFCU developed and shared valuable blogs, articles, charts, guides and other tools for members. NAFCU continues to prioritize extreme member service, answering all compliance questions within one business day. The compliance team remained committed to helping credit unions adjust to COVID-related regulations expiring and being further extended. Last year, the compliance team answered numerous questions, with the most frequent topics addressing the Bank Secrecy Act, Regulation Z, and Regulation E. Part of these questions stemmed from various regulatory and legislative changes. Additionally, NAFCU continues to track litigation efforts related to regulatory compliance and notifies members through blogs and network posts. NAFCU’s compliance team continues to provide tools and resources to help credit unions remain compliant and tackle all their compliance needs. The team will continue to provide timely updates to ensure NAFCU members have the most up-to-date information. COMPLIANCE CRITICAL RESOURCES IN AN EVOLVING INDUSTRY
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