WASHINGTON (3/14/16)--CUNA's CompBlog, the go-to space for expertise on the latest and most pressing compliance issues, is now available to subscribers via email. Starting last week, CUNA members of the Compliance Community now receive emails that contain a rundown of the previous day’s CompBlog entries.
WASHINGTON (3/11/16)--Experienced compliance professionals have the opportunity to continue educational development on the latest and most important topics with the CUNA’s upcoming compliance professional webinar series.
WASHINGTON (3/7/16)--Can multiple-group federal credit unions merge with each other while still complying with the Federal Credit Union Act and the National Credit Union Administration’s rules and regulations? According to Michael J. McKenna, NCUA’s general counsel, it is possible as long as a number of conditions are fulfilled.
WASHINGTON (2/29/16)--While compliance information can be found in hundreds of pages of regulations from various agencies, compliance professionals often rely on their own experience and knowledge of specific topics to guide their credit union’s efforts. Thanks to the CUNA Compliance Community, the collective wisdom of hundreds of compliance experts is a few clicks away.
WASHINGTON (2/16/16)--A number of credit unions have reached out to CUNA compliance staff lately regarding the requirements of the Americans with Disabilities Act. The bill became law in 1991, and its provisions covering employment requirements (Title I) and public accommodations (Title III) are a must-know for credit unions.
WASHINGTON (2/8/16)--To remedy perceived limitations of the Currency Transaction Report, the U.S. Treasury’s Financial Crimes Enforcement Network is seeking comments on potential changes to the form. Comments are due by April 4.
WASHINGTON (2/1/16)--Can a credit union mandate employees receive pay via direct deposit, and tell them which financial institution the funds must go to? CUNA's compliance staff was recently asked this question, and a deeper dive into Regulation E (Electronic Funds Transfer Act) offers some clarity.
WASHINGTON (1/25/16)--Identity theft tax refund fraud is the No. 1 Internal Revenue Service scam, but it’s a scam that credit unions can help thwart. Since the methods of tax refund distribution are usually run through a financial institution, credit unions are in a good position to identify a scam as it's happening.
WASHINGTON (1/21/16)--The Servicemembers Civil Relief Act’s one-year period of protection against foreclosures for returning servicemembers expired on Dec. 31, 2015. Although efforts are under way to reverse the lapse, no legislation has yet to make its way to the president’s desk for a signature.
With CUNA’s Bank Secrecy Act Conference, hosted in conjunction with the National Association of State Credit Union Supervisors, coming up next month, CUNA’s compliance staff went into detail of the NCUA’s BSA compliance program in a recent CompBlog entry.
The NCUA’s Tuesday announcement that it will repay the U.S. Treasury in full is a good sign for credit unions, said CUNA Chief Policy Officer Bill Hampel. The agency will repay the $1 billion outstanding balance before Oct. 31.
CUNA is overall supportive of proposed changes to the TRID rule, but asks the CFPB to continue to work on existing issues. CUNA submitted its comment letter Monday to the bureau on the proposed changes.