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Compliance: CFPB Supervisory Highlights note UDAAP violations

The CFPB released its Winter 2017 Supervisory Highlights recently, detailing issues currently on the bureau’s radar, as well as enforcement trends credit unions should be mindful of, most notably UDAAP in auto loan servicing, mortgage servicing and deposits.

Compliance|Policy & Issues

Compliance: Regulators update CECL FAQ document

The NCUA, along with other federal financial regulators, has posted a FAQ document on the CECL standard. CUNA has called on NCUA to provide credit unions with resources on CECL to aid in implementation.

Compliance|CU Rock Stars 2018

Finding her voice

Melanie Riedl leaves a mark on strategy, compliance, and financial literacy at University of Louisiana FCU.

Compliance

VIDEO: Top compliance challenges in 2017

Jared Ihrig, CUNA's Chief Compliance Officer, discusses regulatory compliance issues CUs need to address for the rest of the year.

Compliance

Housing status adds to fair lending concerns

The practice of adding a housing expense to the debts of applicants who don’t have that type of expense could have a disparate impact on young borrowers.

Compliance

CFPB steps up oversight of consumer info

The Consumer Financial Protection Bureau has prioritized the consumer reporting market for oversight.

Technology|Compliance

Address two important cybersecurity questions

Government agencies and the legal system have demonstrated decreasing degrees of leniency toward organizations with cybersecurity shortcomings in recent years.

Compliance|Volunteers

Proactively manage interest rate risk

The board must adopt safety and soundness practices to address NCUA’s new IRR review procedure to stay in compliance and protect your CU.

Ashlee Micale at CUNA CFO Council Conference 2017

Compliance

Preparing for CECL: 10 tips

‘You can create the methodology that works best for your balance sheet,’ CFOs tell conference attendees.

Douglas Winn at CUNA CFO Council Conference 2017

Lending|Compliance

CECL will require industry-wide data collection

Few CUs have enough loan defaults to have statistically valid loan loss data.

Compliance|Management

CECL is coming: Are you ready?

CECL signals a major change in how credit unions will need to calculate their loan reserves.

Compliance

CUNA advocacy takes some sting out of CECL

CUNA was an active voice as the proposed CECL standard moved from proposal to final form.

Lending|Compliance

MBL rule’s collateral, security requirements

A closer look is needed at NCUA guidance on the removal of strict loan-to-value limits and personal guarantee requirements for member business lending.