IMPORTANT Update –>New Reg Z Periodic Member Statements

As of November 22, 2010, all credit unions have been notified by e-mail and by a CBS Issue Tracking e-mail with the instructions and requirements for switching your credit union to the new Reg Z Periodic Member Statements. If you have not received at least one of these notifications, please contact us at support@camsbycbs.com immediately.

For credit unions that do not switch themselves, it is our intention to automatically switch on the new Reg Z Periodic Member Statements with the installation of the Year-End Release in December. However, this does not free credit unions from their responsibility for configuring fees and transaction codes before the Year-End Batch runs.

IMPORTANT: We strongly encourage you to complete the switch/configuration by end of the day, November 29, 2010. In this way, many of you will have at least one statement produced before the end of the year.

Credit unions that do not designate which fees and transactions are disclosable and loan-related may not have accurate fee information reported on their member statements.

If you have any questions about what is a disclosable fee or transaction, please contact the appropriate regulatory authority. CBS does not provide regulatory guidance or compliance interpretations for credit unions.

For questions concerning the configuration of CAMS-ii, please consult the instructions attached to the CBS Issue notifying you about these statements, or click here to access the latest version of the Implementation Instructions.

Click here to view an annotated example of new Reg Z Periodic Member Statements.