Effort aims to protect consumers and financial institutions from fake check scams.
January 4, 2011
The New York State Consumer Protection Board joined with the Credit Union Association of New York and others to announce the start of a new, innovative program to protect consumers and financial institutions from fake check scams.
The Department of Labor will publish its final rule Wednesday regarding employees’ eligibility for overtime pay--a rule which CUNA believes will have unintended negative consequences for credit unions, particularly smaller credit unions and those in non-metropolitan areas.
Further CUNA analysis of the U.S. Department of Labor’s overtime rule found minor relief, but CUNA remains concerned about the increased burden on credit unions. Several CUNA-suggested changes were included in the final rule.
Six federal agencies published guidance last week designed to ensure all depository institutions are aware of expectations when it comes to deposit reconciliation. CUNA’s compliance explains what it means for credit unions in a recent CompBlog post.