A federal credit union can issue and sell securities, provided it meets a 3-pronged test detailed in NCUA’s regulations on items considered incidental powers. NCUA issued this stance in a legal opinion letter.
The Federal Reserve’s first Consumer Compliance Outlook newsletter of 2017 was released recently, and emphasized the need for financial institutions to take a role in combating elder financial abuse by enhancing their policies, procedures and training.
With privately insured credit unions that meet certain requirements eligible to join the FHLB program starting July 5, CUNA compliance staff has developed a final rule analysis with an overview of new requirements.
Credit unions have until July 1 to submit nominations for the 2nd annual CUNA Compliance Awards. CUNA encourages credit union compliance professionals to nominate peers, themselves and/or their credit unions for the awards.
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.
NCUA’s revised MBL rule has been in effect for more than 6 months now, and according to the agency, it has received a number of questions about the rule and its implementation, leading it to release some FAQs.
With the DOL announcing a “phased implementation” of its fiduciary rule through Jan. 1, what is required between the June 9 effective date and then? CUNA’s compliance staff examined what’s next for the rule in a recent CompBlog post.