CUNA’s 2019 Year in Review is now available, recapping the year in finalized rules and amendments that affect credit unions. CUNA’s 2019 Year in Review Checklist will be released on CUNA’s CompBlog in the coming days.
CUNA compliance staff has been getting numerous questions regarding the new IRA requirements resulting from the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, and has answers for 5 common questions.
The CFPB announced 2020 asset-size exemption thresholds for HMDA based on the Consumer Price Index for Urban Wage Earners and Clerical Workers. Credit unions with assets of $47 million or less are exempt from collecting HMDA data in 2020.
The new year marks not only the start of a new decade, but the effective date of several important rules for credit unions, including the extended HMDA reporting threshold and NCUA's "second chance" initiative.
A new report from the GAO addresses BSA and Money Transmitter Accounts. It also includes a recommendation to NCUA on improving examiners’ ability to evaluate Bank Secrecy Act/Anti-money Laundering (BSA/AML) controls.
Five federal financial regulators, including NCUA, released a joint statement on the use of alternative data in underwriting by credit unions and other financial institutions noting the benefits that using alternative data may provide to consumers.
CUNA joined NASCUS earlier this month for its annual BSA/AML Certification Conference in Tempe, Ariz. The three-day event featured presentations on the most pressing compliance issues facing credit unions today.
The CFPB issued a request for public comment on an assessment it will conduct on the TRID rule, to address the TRID Rule’s effectiveness in meeting the purposes and objectives of Title X of the Dodd-Frank Act, the specific goals of the rule and more.