A question was recently posed to CUNA’s compliance staff about the Right to Financial Privacy Act. Specifically, what type of documentation is required from a federal government agency when it requests financial information on a member?
A federal credit union can issue and sell securities, provided it meets a 3-pronged test detailed in NCUA’s regulations on items considered incidental powers. NCUA issued this stance in a legal opinion letter.
The Federal Reserve’s first Consumer Compliance Outlook newsletter of 2017 was released recently, and emphasized the need for financial institutions to take a role in combating elder financial abuse by enhancing their policies, procedures and training.
With privately insured credit unions that meet certain requirements eligible to join the FHLB program starting July 5, CUNA compliance staff has developed a final rule analysis with an overview of new requirements.
CUNA wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
CUNA’s Final Rule Analysis of the Consumer Financial Protection Bureau’s short-term, small-dollar loan rule is now available, to help credit unions figure out how it will affect small-dollar lending at their institution.