WASHINGTON (3/28/16)--With the National Credit Union Administration’s member business lending rule finalized, all that’s left is for credit unions to gain an understanding of how the rule will affect them. CUNA's compliance staff has put together a CompNote on the rule, which is now available.
WASHINGTON (3/21/16)--Recent guidance involving money services businesses (MSB) does not directly affect credit unions, but a strong understanding of MSB accounts’ compliance responsibilities will reflect positively on your level of due diligence, according to CUNA compliance staff.
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.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.
CUNA Chief Policy Officer/Chief Economist Bill Hampel said there is no immediate concern for credit unions regarding a U.S. appeals court decision to throw out a $1.27 billion penalty levied by the U.S. Department of Justice against Bank of America in connection with questionable mortgages sold by the former subprime giant Countrywide.