Compliance

Prepare to Report Deposit Interest Paid to Nonresident Aliens

July 01, 2012
The IRS issued a regulation that will impact credit unions, banks, and other institutions. READ MORE

BSA E-Filing Now in Effect

July 01, 2012
CUs using the e-filing system may choose to electronically file either the legacy or new reports until March 31. READ MORE

CFPB Considers Mortgage Origination Rules

July 01, 2012
The CFPB plans to publish a Notice of Proposed Rulemaking this summer, and a formal comment period will follow. Expect final rules by January 2013. READ MORE

FFIEC Clarifies Interest-Rate Risk Advisory

July 01, 2012
The agency issued responses to frequently asked questions about its 2010 Advisory on Interest Rate Risk (IRR) Management. READ MORE

Mercer: Good Isn’t Good Enough

June 20, 2012
‘We can’t play at the same level by working harder using the same techniques.' READ MORE

Cheney: Look to the Future With a Common Purpose

June 19, 2012
Don’t let others define what CUs are and what they should be, CUNA's CEO urged ACUC attendees Monday. READ MORE

NCUA Responding to CU Exam Issues

June 13, 2012
The most efficient examinations are ones in which credit union officials and examiners treat each other as professionals and respect each other’s informed points of views. READ MORE

Prepare for Interest-Rate Risk Reg

June 13, 2012
Federally insured credit unions with more than $50 million in assets must comply with the IRR regulation, but federally insured credit unions with less than $10 million in assets are exempt. READ MORE

Know Before You Owe Mortgages: A Game-Changer

June 11, 2012
By proposing rules after soliciting feedback, CFPB has changed the rules of the rulemaking game—and spectators need to pay attention. READ MORE

Compliance Q&A: The Servicemembers Civil Relief Act

June 01, 2012
Does the SCRA allow a servicemember to terminate an auto lease? READ MORE

The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

#FinCEN smuggling & trafficking guidance

Detecting and reporting suspicious transactions is essential in the financial industry. FinCEN issued an advisory last week to help financial institutions identify “red flags” to assist with the identification and reporting of suspicious financial activities connected with human smuggling and trafficking. Detecting and reporting: Important observations when interacting with members and throughout the credit unions […]

SCRA: An Acronym You Need to Know

In May, the United States Department of Justice announced a $60 million settlement with student loan servicer Sallie Mae for alleged violations of the Servicemembers Civil Relief Act (SCRA). As a result, the once seemingly forgotten 4th fair lending law now resumes its rightful place center stage. If it’s been awhile since your credit union’s […]

Elder Justice Site Launched

Whether it has become more common due to our aging society, or it is simply more prevalent in the news, elder abuse is receiving more attention as of late.  The Department of Justice felt that this topic was deserving of additional resources, and thus created an Elder Justice website. The website contains resources for victims […]
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