Changes to force-placement of flood insurance and exemptions for detached structures payments are effective as of last week, and the National Credit Union Administration sent out a regulatory alert detailing changes.
October marks the 12th annual National Cybersecurity Awareness Month, and the National Credit Union Administration is offering a number of resources to help credit unions and their members keep their electronic communications secure.
Six banks that allegedly sold toxic mortgage-backed securities to corporate credit unions have until Oct. 30 to meet with the National Credit Union Administration, per an order from U.S. District Judge Denise Cote of the U.S. District Court of the Southern District of New York.
Concerns over the National Credit Union Administration’s revised risk-based capital proposal led CUNA to write to U.S. House Financial Services Committee leadership Tuesday requesting consideration of a bill that would call for the proposal to be studied further.
CUNA President/CEO Jim Nussle said Thursday that the field-of-membership rule changes proposed by the National Credit Union Administration at its open board meeting will provide greater choice for consumers, as well as flexibility for credit unions to better serve their communities.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.