Compliance

CUs face a deluge of rules both baffling and complex. READ MORE

The Fair Credit Reporting Act limits consumer reporting agencies' ability to furnish reports containing consumers' medical information. READ MORE

In December 2011, the Consumer Financial Protection Bureau (CFPB) issued a report on its first three months of collecting credit card complaint data.  READ MORE

Under review in 2012 are rules governing bylaws, fields of membership, fixed asset ownership, mergers, corporate credit unions, and more. READ MORE

CUNA cites need to address a number of issues, including ATM disclosures and HMDA triggers. READ MORE

The original rule regarding the limitation of fees during the first year after an account is opened remains in place and credit unions should continue to comply with it. READ MORE

Also covered are questions about NMLS administrators, FCRA negative information notices, and garnishment orders. READ MORE

Here’s a BSA update, highlighting recent actions by FinCEN, which oversees compliance with BSA/anti-money laundering. READ MORE

Before requesting that next credit report, make sure you comply with new restrictions imposed through state and federal laws. READ MORE

The current regulatory environment is fast-paced and unrelenting. READ MORE

If you have followed any of my past blog posts, you may have noticed I have discussed the Consumer Financial Protection Bureau’s (CFPB) updates to the “Know Before You Owe” mortgage documentation program. I am happy to report that there is a new update to the this program. As you may have probably heard, the CFPB has been working on the [...]

With new regulations coming from federal agencies on almost a daily basis it is easy to forget that broad reviews of all existing regulations are conducted regularly. The NCUA recently posted a list of regulations that it plans to review in 2012.  The NCUA reviews all of its existing regulations every three years. This year [...]

When the new final remittance rule was released by the CFPB, many of you probably assumed it didn’t apply to your credit union because you don’t do traditional remittance transfers. Well, if you do international wire transfers or international ACH transactions, it may apply to you. The new final rule amends Regulation E and provides for additional [...]