Credit unions wanting information about how to comply with Red Flag rules on privacy can download a free podcast from NAFCU Services and Wolters/Kluwer Financial.
The rules, which take effect Jan. 1, require financial institutions–including credit unions–to issue privacy forms so consumers know there are greater privacy safeguards.
Wolters Kluwer Financial Services Senior Financial Attorney Ted Dreyer said in the podcast that for privacy notices given out after Jan. 1, "only the new form will have the safe harbor for compliance from the regulators."
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