Compliance

Turn Regulatory Lemons into Lending Lemonade

September 25, 2009
By Bill Klewin There’s much to be said about what massive changes to the regulatory landscape could bring to credit unions. To set the stage, we need to remember the changes we’re facing: * New rules regarding the Real Estate Settlement Procedures Act ; * New Regulation Z (Truth-in-Lending) rules... READ MORE

Compliance Q&A: Servicemembers Civil Relief Act

September 25, 2009
By Valerie Moss Q How should credit unions apply the Servicemembers Civil Relief Act's (SCRA) 6% interest rate cap to new advances under an existing credit card or open-end home equity line of credit program?   A SCRA’s 6% interest-rate cap applies only to outstanding balances on loans taken out... READ MORE

Guilt by Proximity

September 23, 2009
James Collins Outrageous card practices begged for legislation. Question: What do you get when you lock a million monkeys in a room with a million typewriters and wait a million years? Answer: Lots of monkey poop. You might also get the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of... READ MORE

Community Conference Is for All CUs

September 23, 2009
CUNA’s Community Credit Union &Growth Conference isn’t just for community credit unions. It’s for every credit union looking to capture membership potential. The conference, Oct. 21-24 in Las Vegas, will explore a diverse range of topics, including: • Community credit union best practices; • Reaching out to Hispanics; • Targeting generation Y; • Financial... READ MORE

CARD Act, Proposed CFPA Remain Major Concerns

September 23, 2009
Mary Dunn Serious issues with the 21-day rule persist. Whether financial reform can proceed in Congress is unclear. But one component of the Obama administration’s reform package that could advance is the proposal for the new Consumer Financial Protection Agency (CFPA). While the prospects for Senate action on the proposed... READ MORE

Reg Z Revisions Keep Coming

September 23, 2009
Nichole Seabron Changes affect fees, disclosures, and advertising. The Federal Reserve Board’s revisions to Regulation Z (Truth in Lending) definitely will affect how your credit union does business—in both major and minor ways. It’s worth taking a closer look at two amendments in particular: the changes under the Mortgage Disclosure... READ MORE

One of 10 Robberies Targets CUs

September 23, 2009
Among the 1,278 financial institution robberies during the second quarter of 2009, 117 occurred at credit unions, according to statistics from the Federal Bureau of Investigation (FBI). That’s far less than banks suffered during this period (1,124) but more than thrifts (26) and mutual savings banks (11). Cash was taken... READ MORE

Compliance Q&A: Adverse Action Notices

August 27, 2009
By Valerie Moss Q Must a credit union provide an adverse action notice under Regulation B when it turns down a business loan application?   A Yes . Regulation B (Equal Credit Opportunity) applies to all credit—commercial as well as consumer loans. However, if two or more people have applied... READ MORE

Manage the Risks of Remote Deposit Capture

August 25, 2009
Valerie Moss The focus today is on extending RDC to consumers. Remote deposit capture (RDC) refers to a range of services that allow users to scan checks/share drafts at remote locations and transmit the scanned images to financial institutions for posting and clearing. Locations may include the credit union’s branches... READ MORE

Corporate Stabilization Revisited

August 25, 2009
Jim Jerving New legislation ‘eases the pain’ and boosts CU ROA. Turbulence within the corporate credit union system and the effects on retail credit unions were dominant topics at the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) earlier this year. In May, passage of S. 896, the Helping... READ MORE

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

Credit Cards

The CARD Act seems like it was issued so long ago, given all the regulatory changes we have had since then. And, given the time that has passed, you would think we would have the Act all figured out. Well, it seems there is still some confusion about what happens when you change the member’s […]

Join us @ #CUNA Regulatory Compliance School

Are you attending CUNA’s Regulatory Compliance School in Chicago next month? PolicyWorks has teamed up with CUNA to provide a seminar before and after Regulatory Compliance School (RCS) this September. Prior to the start of the school take a dive into marketing compliance and get hands-on experience applying marketing regulations to advertisements. Through this seminar you will: Gain […]

Comment on #CFPB HMDA Proposal

Recent regulatory activity has kept the industry writing comment letters in droves, but now is no time to stop writing letters! The CFPB recently proposed a rule updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA). Significant provisions in the proposal include; an adjustment to the covered entities that must report HMDA data, […]
More Stories

What's Popular

Popular Stories

Recent Discussion

Your Say: Should CUs Impose Age Limits for Directors?

View Results Poll Archive