Credit Unions Urged Compliance in Data Match Program
The Missouri Credit Union Association (MCUA) is reaching out to credit unions currently not in compliance with a mandatory national program to help track down parents who are delinquent with child support payments.
The Financial Institution Data Match (FIDM) program works through financial institutions to track down delinquent parents, so children receive their legally required financial assistance. The Division of Child Support Enforcement (DCSE) implemented the national program in Missouri in 2001, and many credit unions across the state have implemented the program. While the MCUA has strongly encouraged credit union participation, financial institutions have not faced penalties for non-compliance.
That may change in 2014. Legislation is anticipated in the Missouri General Assembly that would enforce penalties for non-compliance with the FIDM program. MCUA Advocacy and Compliance notified all MCUA member credit unions currently not complying with FIDM and urged enrollment by year-end 2013.
“This mandatory national program is designed to help children get the child support payments they are entitled to through the courts,” explains Don Cohenour, MCUA president/CEO. “Efforts to fully implement this program in advance of legislation will demonstrate credit unions’ willingness to work towards compliance with the agency and lawmakers. It will also help pinpoint any potential roadblocks. This will be beneficial as legislation is crafted.”
All non-compliant credit unions were notified by email on November 22, with a follow up letter on December 3. For more information or assistance, contact MCUA Compliance at 800.446.3620 or email@example.com, or visit the Missouri FIDM website.