In an article published on Oct. 25, 2018 in Credit Union Management, commercial litigator John Guin discusses ways credit unions can mitigate the risks associated with loans in relation to their members. Guin explains the importance of fidelity bond coverage as it can insure credit unions from losses resulted from bad loans for more than just criminal or fraudulent activity. He emphasizes the importance of credit unions drafting clear lending policies that employees sufficiently understand, as an employee’s unintentional misunderstanding would not give rise to fidelity bond coverage. For the full article you may click here.
- News & Analysis