The NCUA released a supervisory letter Tuesday establishing a framework for examination and supervision of certified Community Development Financial Institutions. The letter contains guidance that applies to all CDFI-certified credit unions, including what examiners will look for.
The Louisiana Credit Union League has announced a partnership with CU Strategic Planning that will help credit unions in the state achieve certification as Community Development Financial Institutions.
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.