CUNA’s compliance staff went back to basics in a recent CompBlog post highlighting what credit unions should do when they receive a garnishment notice. The entry covers 5 steps credit unions should follow.
The NCUA provided guidance on updated compliance risk indicators, which incorporate the principles of the Consumer Compliance Rating System. The updated compliance risk indicators detailed in NCUA's recent letter focus on three areas and specific factors within each area.
CUNA’s compliance staff continued its look into the NCUA’s new member business lending rule last week with a CompBlog entry looking at personal guarantees. The removal of the personal guarantee requirement became effective in May 2016.
CUNA’s compliance staff went back to basics in a recent CompBlog entry examining floor rates on variable-rate open-end loans. These rates are governed by the Credit Card Accountability and Disclosure (CARD) Act.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.
CUNA’s compliance staff continued its closer look into the NCUA’s guidance on its member business lending rule with a CompBlog entry last week on collateral and security requirements for commercial loans.
Last week’s CUNA Governmental Affairs Conference brought 5,000 credit union leaders to Washington, D.C. During one of the breakout sessions, NCUA staff outlined where the agency is at regarding extending the examination cycle.
CUNA wrote in support of legislation Monday that is a step forward in addressing the threat of litigation under the Americans With Disabilities Act, urging legislators to consider how credit unions are being impacted by frivolous litigation.
After weeks of hurricanes, and now wildfires, it’s more important than ever for credit unions to be prepared for disasters. Federally insured credit unions are required to have disaster recovery and business resumption plans.