NCUA’s latest supervisory letter addresses compliance with the new CDD and beneficial ownership rules. According to the agency, field staff will begin evaluating credit union compliance with the new CDD rules soon.
NCUA’s latest letter to credit unions (18-CU-01) provides an update on five board-approved Examination Modernization Initiatives designed to improve and modernize how the agency conducts examination and supervision.
The Federal Reserve published a Consumer Compliance Supervision Bulletin in July, which provides high level summaries of a variety of compliance issues, focusing mostly on fair lending risks and Unfair, or Deceptive Acts of Practices.
The NCUA conducted a recent webinar in which staff discussed how credit union employees can help their members maximize NCUSIF coverage. A CUNA CompBlog entry examines what agency staff say about various account types.
S. 2155 contains several provisions related to the Fair Credit Reporting Act directly impacting credit reporting agencies. Credit unions will experience changes in the way certain information is reported and/or restricted by credit bureaus.