It its latest “Back to Basics” CompBlog post, CUNA’s compliance staff examines a number of things credit unions should know about Office of Foreign Assets Control compliance. OFAC enforces and administers sanctions programs and furthers national security goals.
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 CFPB's new mortgage servicing rule contains information on a partial exemption from early intervention requirements for borrowers in bankruptcy. During bankrputcy, mortgage servicers are exempt from the live contact requirements, according to the new rule.
Credit unions that make “Application Withdrawn” action taken reporting errors should pay close attention to the precise definition of the term, according to the NCUA. The issue was covered during a webinar Tuesday covering fair lending topics.
NCUA has released its new call report form and accompanying instructions, which become effective Sept. 30. For credit unions engaged in commercial lending, most notable are the updates reflecting the January 2017 changes to the member business lending rule.