The Department of Defense’s December guidance on the Military Lending Act has impacted several credit union services, and a recent CUNA CompBlog post examines its effect on indirect dealer lending programs.
CUNA compliance staff has compiled a new resource outlining major finalized rules and amendments issued last year, and highlights other CUNA resources and the regulatory or agency responsible for the rule.
In addition to CUNA’s compliance resources such as CompBlog other materials, CUNA’s compliance staff fields questions regularly. Here are some of the most commonly asked questions and answers from CUNA compliance staff.
NCUA has released its list of supervisory priorities for 2018 in a letter to federally insured credit unions. A CUNA CompBlog entry provides information on the letter, which is also available on NCUA’s website.
FinCEN launched a new program last week, FinCEN Exchange, to enhance information sharing between law enforcement and financial institutions. Credit union participation in the program is voluntary, and the program does not introduce any new regulatory requirements.
With the DOL finalizing an 18-month extension the fiduciary rule’s applicability date, what should credit unions do during the extended transition time? The rule’s amended definition of “fiduciary” became effective June 9.