Compliance

Top 10 Compliance Hotspots

February 18, 2009
CUNA’s Compliance Attorneys In addressing risks in 2009, review your CU’s compliance management structure. Compliance permeates every aspect of credit union operations: lending, collections, account opening and closing, marketing, investments, vendor relationships, employment, accounting, and governance. The list goes on. Some new and some never-ending compliance requirements are on the... READ MORE

Jump-Start SEG Business

January 23, 2009
LEAD STORY Community-chartered credit unions can benefit from select employee group (SEG) relationships as much as other credit unions. They just need to differentiate themselves from competitors and position themselves as a SEG benefit, says Ginger Salt, senior vice president of markets for $1.2 billion asset Truliant Federal Credit Union,... READ MORE

A Blizzard of Regulatory Change

January 23, 2009
Bill Klewin Lending regulation is reaching a frenzied pace. As I look out my window, I brace for the snow, slippery conditions, and bad drivers I’ll face on my commute. That’s a great analogy for what credit unions face on the regulatory compliance front, especially for lending-related regulations. For years,... READ MORE

Extreme Makeover: FMLA Edition

January 23, 2009
Karen Saul Changes aim to ease family and medical leave administration. The first-ever amendments to the Family and Medical Leave Act of 1993 (FMLA) became effective Jan. 16. The changes are intended to improve communication between employers, workers, and health-care providers. Highlights include: Military family leave. Two new entitlements became... READ MORE

A Tipping-Point Year for Regulatory Initiatives

January 23, 2009
Mary Dunn Some reg changes benefited CUs late last year. It's always dangerous starting out a new year by making predictions on how the months ahead will unfold. Yet it’s clear 2009 will be challenging for the economy and our nation. Credit unions also will face their share of issues,... READ MORE

IRS Form 990: Changes Headed Your Way

January 23, 2009
Nichole Seabron State-chartered CUs’ tax form gets an overhaul. The internal revenue Service (IRS) recently overhauled Form 990 (Return of Organization Exempt From Income Tax), the annual return state-chartered credit unions file. (Federal credit unions don’t file Form 990 because they aren’t subject to unrelated business income taxes.) According to... READ MORE

TwentyFour/Seven

December 23, 2008
LEAD STORY  Fraudsters Seek Out Staff Fraudsters are taking a more personal approach to their craft through social engineering, the practice of obtaining private or proprietary information to use illicitly. So says Karen Daeke, senior vice president of security administration at $16.4 billion asset State Employees’ Credit Union, Raleigh, N.C.,... READ MORE

Will HELOCs Survive Declining Home Values?

December 23, 2008
Michael McLain Reg Z permits creditors to change HELOC terms in some circumstances. With declining home values plus increasing foreclosures, unemployment, and bankruptcies, credit unions offering home equity lines of credit (HELOC) should understand how these situations affect their rights to modify HELOC terms and conditions. Take proper action to... READ MORE

Lean Times for CU Liens

December 23, 2008
Charles Williams In bankruptcy cases, ‘trustee-proof ’ your security interests. As an experienced loan officer at Curl Up and Dye Federal Credit Union, a midsize institution serving the cosmetics, hair-care, and grooming industries, you take pride in your vehicle lending programs. This morning, how-ever, you hold in shaking hands a letter... READ MORE

'Tis the Season Of Regulatory Concerns

November 17, 2008
Mary Dunn   The economy will affect CUs, but the extent is unknown .   How some credit unions in certain parts of the country, as well as the National Credit Union Administration (NCUA), can brace themselves against the economic storm is an important issue for the credit union system. ... READ MORE
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July 2014

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New Compliance Resource from the NCUA

The NCUA has recently published a “Consumer Compliance Regulatory Resources” page, on their website. The page does not contain any new guidance from the NCUA at this point, but is more of a resource for finding links to additional resources from the FFIEC, CFPB, and of course the NCUA.   Areas which are currently listed on […]

NCUA’s Proposed Appraisal Rule: The Sequel

Last week, we discussed the NCUA’s proposed rulemaking related to appraisals. In today’s post, I’ll discuss parts two and three of that proposal. Part two of the proposed rule seeks to establish consistency between credit unions and other banking agencies as to when an appraisal is required in connection with a real estate related transaction. […]

NCUA’s Proposed Appraisal Rule: Part One

On June 26th, the National Credit Union Administration (“NCUA”) published a proposed rule in the Federal Register related to appraisals. In today’s post, I’ll discuss part one of the proposed rule. Next Tuesday, I’ll discuss parts two and three. Currently, under Section 701.31(c)(5) of the NCUA’s rules and regulations, Federal credit unions (“FCUs”) are required […]
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