May 23 2024

Devastated Employees and Board Recount Former Manager’s Deception

The employees and board members of $17.2 million Shoreline FCU were devastated to learn that their beloved manager, Kathryn Sue Simmerman, had been stealing cash from the credit union’s vault for over 16 years. Simmerman, who employed an intricate series of transactions to hide her theft, pled guilty to embezzlement and structuring and has been sentenced to 6.5 years in prison and ordered to pay restitution in the amount of $1.9 million. [1/5/16]

Risk Watch Plus Webinar 8: Complaint Management

Complaints: Why you shouldn’t shun them, but invite them! In this era of exploding complaint volume, this certificated webinar (see instructions in video for how to get your free certificate of completion) takes a look at the risks, evolution, and need for a management strategy to effectively deal with complaints. Before that, we cover what’s hot in compliance, as seen by the editors of Risk InboX. This week’s hot items: 1) HUD cancels Obama era Fair Housing rule; 2) “HMDA” for boards and management; and 3) CFPB has added a new dimension to its complaint database. Click here to watch now.

What is the AffirmX Platform?

Video What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video

About Risk InboX

Each day, teams of subject matter experts and analysts at AffirmX and AdvisX comb through dozens of resources to keep tabs on the latest developments in areas of risk. We share our findings here, along with a brief note about why each item matters.

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