The Federal Communications Commission released a declaratory ruling last week clarifying that the Telephone Consumer Protection Act does not apply to calls made by the federal government, as long as the call is part of official business.
CUNA’s compliance staff has received questions about what the Fair Credit Reporting Act says about credit unions being allowed to pull credit reports for cross-selling purposes. Credit unions are not allowed to do so, with one limited exception.
Examiner guidance from the Federal Financial Institutions Examination Council essentially tasks credit unions with having a documented plan for mobile payments security and business risk and could potentially play a key role in upcoming credit union examinations.
Can a member opening a trust account list an organization as a beneficiary, and will that beneficiary be insured by the NCUA? That question was sent to CUNA’s compliance staff, and the answer depends on a number of factors.
CUNA compliance staff has received a number of questions in recent weeks regarding Internal Revenue Service W-9 forms and taxpayer identification numbers. A recent CompBlog entry lists some of those frequently asked questions, along with answers.
CUNA’s compliance staff continues its deep dive into requirements under the changed Military Lending Act, as well as answering questions that come from credit unions trying to ensure they remain in compliance.
As questions continue to arise regarding the changes to the Military Lending Act, CUNA is not only submitting guidance language at the Department of Defense’s request, but also answering questions from credit unions.
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.
President Barack Obama sent greetings Thursday to those celebrating International Credit Union Day. CUNA worked closely with the White House on the statement, and a number of credit union-friendly legislators also weighed in with the White House.