The CFPB recently released a bulletin designed to protect consumers from potentially harmful production incentives. In a recent CompBlog entry, CUNA compliance staff examined the bulletin and addressed why it is important to have a robust compliance management system.
Section 314(b) of the USA PATRIOT Act, permits financial institutions and associations of financial institutions to voluntarily share information with one another, under a safe harbor, for identifying activities that may involve money laundering or terrorist activity.
CUNA hosted its annual Bank Secrecy Act Conference last week in conjunction with the National Association of State Credit Union Supervisors. Attendees heard from a variety of experts on the top BSA issues.
As the holidays approach, many credit unions have questions about consecutive day closings. For example, a credit union might like to close for Thanksgiving, Nov. 24 and remain closed until the following Monday, Nov. 28. Is that allowed?
The House voted Thursday in favor of an appropriations bill that contains several major victories for credit unions. It does not place NCUA under the appropriations process, and makes significant changes to the CFPB.
CUNA's compliance staff receives a number of questions about TRID rule, leading to publication of a recent CompBlog post addressing means of delivery and timing requirements for the Loan Estimate and Closing Disclosure forms.