NCUA, FinCEN, and other federal agencies have issued responses to frequently asked questions on suspicious activity reporting and other anti-money laundering requirements. A detailed analysis can be found on CUNA's CompBlog.
CUNA generally supports the Federal Housing Administration's proposal to allow owners the option to purchase private flood insurance on FHA-insured mortgages for properties located in Special Flood Hazard Areas.
Credit union compliance staff will learn about the changes during a January 27 webinar, “PPP Reboot: What New and Existing Borrowers Need to Know About the New Stimulus Package.” The free webinar will take place from 11 a.m. to 12:30 p.m. (ET)
As the credit union system continues to manage the challenges of COVID-19, CUNA is pleased to welcome Scott Gottlieb, M.D., former Food and Drug Administration (FDA) Commissioner, to CUNA GAC, March 2 to 4.
Many credit unions would benefit from improved efficient and effectiveness of the USDA's Single-Family Housing Guaranteed Loan Program, CUNA wrote to the USDA in response to a proposal that would mandate use of certain underwriting and closing systems for the program.
CFPB Director Kathy Kraninger and resigned her position Wednesday. Kraninger served as director since December 2018. Dave Uejio has been named the agency's acting director as the administration's nominee is confirmed by the Senate.
The incoming Biden administration should consider the impact any policy changes will have on credit unions’ ability to serve their members, CUNA wrote to the Biden transition team Tuesday. Recommendations include continued actions from NCUA and CFPB.
The CFPB Tuesday issued a final rule exempting certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans. CUNA supported the proposal in its September comment letter.
NCUA, along with the CFPB and other federal financial regulators, issued a final rule Tuesday confirming that difference between regulations and guidance. Per the statement, unlike laws or regulations, supervisory guidance does not have the full force and effect of law.