At press time, the National Credit Union Administration (NCUA) and all of the federal banking agencies (except the Office of Thrift Supervision) had approved the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) regulations.
Steve Rodgers Alert CU staff thought something was wrong, and it was. Bank of America didn’t catch it. Citibank didn’t catch it. Neither did Wells Fargo. As employees at those banks were busy processing withdrawals, Joe Gonzales was busy draining 82-year-old Jack Whittaker’s accounts. In little more than a year,...
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.
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.
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.