Compliance

Stand Up for Your Point of View With Regulators

October 27, 2011
Stand up for your point of view when you face disagreements with your examiners and regulators. READ MORE

Donovan: Threat to CU Tax Status Is Low—But Not Zero

October 27, 2011
For many reasons, Donovan says it's unlikely Congress will put CUs' tax status on the table. READ MORE

What Is Adverse Action?

October 15, 2011
The Dodd-Frank Act amended FCRA to require CUs to disclose that a credit score was used in taking any adverse employment action. READ MORE

Examiners To Disclose CAMEL Ratings

October 01, 2011
NCUA has instructed examiners to begin sharing CAMEL ratings with federally-insured, state-chartered credit unions during all on-site insurance reviews and supervision contacts. READ MORE

When ‘Free’ Means Free

September 26, 2011
Since the Federal Reserve issued its final rules on interchange fees, some financial institutions have eliminated free checking to recoup lost income. READ MORE

Interchange Fees and Routing

September 25, 2011
The Dodd-Frank Act amended the Electronic Fund Transfer Act by adding Section 920 regarding interchange transaction fees and rules for debit card transactions. READ MORE

The 14-Day Question

September 24, 2011
Some CUs are confused about the 14-day timing requirement for periodic statements. READ MORE

Re-Evaluate Authentication Systems

September 01, 2011
This summer the Federal Financial Institutions Examination Council (FFIEC) agencies issued a supplement to their 2005 guidance (“Authentication in an Internet Banking Environment”). READ MORE

Battle Workplace Bullying

August 24, 2011
This year, legislatures in at least 11 states, from New York to Washington, are considering legislation to prohibit bullying in the workplace. READ MORE

Compliance Q&A: OFAC, FCRA, and the SAFE Act

August 24, 2011
Quick answers to your compliance questions. 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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