Compliance

What’s Happening on the BSA Front?

January 13, 2012
Here’s a BSA update, highlighting recent actions by FinCEN, which oversees compliance with BSA/anti-money laundering. READ MORE

Credit Reports: Useful Screen Or Lawsuit Unforeseen?

January 11, 2012
Before requesting that next credit report, make sure you comply with new restrictions imposed through state and federal laws. READ MORE

Beware ATM Fee Lawsuits

January 02, 2012
CUNA and CUNA Mutual offer nine risk-mitigation strategies. READ MORE

Compliance Burden Grows Heavier

January 01, 2012
The current regulatory environment is fast-paced and unrelenting. READ MORE

Compliance Matters

January 01, 2012
CFPB update, remittance transfers, HUD proposed discrimination standards, and private education loans. READ MORE

Investigate Unauthorized Transactions

December 22, 2011
NCUA indicates some of the most common consumer complaints are related to unauthorized transactions and Regulation E. READ MORE

CFPB Takes on Perennial Challenge as First Big Test

December 21, 2011
It would be a rare win-win if the new bureau could streamline the mortgage process for lenders in a way borrowers could understand. READ MORE

Surviving the Examination During Challenging Times

December 12, 2011
Proper preparation can be the 'transactional lubrication' your CU needs to reduce the regulatory friction of an exam. READ MORE

Compliance Q&A: NMLS Requirements

December 01, 2011
Are individuals engaged in mortgage loan modifications required to register on the Nationwide Mortgage Licensing System & Registry? READ MORE

Treasury Amends Check Reclamation Rules

December 01, 2011
FMS amended its reclamation rules, effective Oct. 19, 2011. READ MORE

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

#BSA #AML Examination Manuel Update released

On December 2nd the Federal Financial Institutions Examination Council (FFIEC) released the much anticipated revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. An update for this manual had not been released since 2010. The revisions clarify supervisory expectations and incorporate regulatory changes since the last update. Numerous revisions have been made throughout the manual. Sections […]

#FannieMae & #FreddieMac’s New Guidelines Aim to Make Mortgage Lending Easier

New guidelines from Fannie Mae and Freddie Mac took effect this Monday, with the intent of relaxing lending standards for borrowers.  The new guidelines provide clarification on when lenders can be penalized for making mistakes in mortgages they sell to Fannie and Freddie.  Prior to the update, lenders  cautious of making a mistake kept strict standards […]

Proposed Changes to Mortgage Servicing Rules

On November 20th the Consumer Financial Protection Bureau (“CFPB”) proposed to amend several mortgage servicing rules under both Regulation Z and Regulation X. The proposed rule is 492 pages long and to date has not been thoroughly vetted. However, let’s take a look at some of the highlights: Successors in Interest: A successor in interest […]
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