Compliance

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

Beyond Order-Taking

November 17, 2008
Does your credit union want a successful call center that actively meets members’ needs?   It’s the simple things that make it work, say presenters at the 11th annual CUNA Operations, Sales & Service Council Conference in Williamsburg, Va.   Among their suggestions: Educate staff on how to approach each... READ MORE

Compliance Challenge: Party Planning

October 01, 2008
Compliance Challenge: Party Planning October 1, 2008 By Kathy Thompson Washington, D.C., is supposed to be a sleepy town in August, with all the politicians and their staff leaving—especially this year with all the partying in Denver and Minneapolis-St. Paul. But there's no partying for those of us in the... READ MORE

Compliance Q&A: FACT Act

October 01, 2008
Q Our credit union provides information to CUNA Mutual Group for use in marketing products and services to our members. Does this relationship trigger compliance with the Fair and Accurate Credit Transactions (FACT) Act's affiliate marketing rule? READ MORE

Compliance Q&A: Electronic Disclosures

September 01, 2008
Compliance Q&A: Electronic Disclosures September 1, 2008 By Valerie Moss Q The Federal Reserve Board clarified the requirements for providing electronic consumer disclosures last fall. When is the mandatory compliance date for these changes, and how will they affect the way credit unions deliver electronic disclosures? A Last fall, the... READ MORE

Compliance Challenge: Regulatory Blockbusters

August 01, 2008
Compliance Challenge: Regulatory Blockbusters August 1, 2008 Over the July 4 weekend I saw both "Up the Yangtze" (a documentary) and "Ironman" (a genre I call "movies with big explosion budgets"). As I looked at everything I wanted to review with you this month, I thought "how would this play... READ MORE

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

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, […]

Penny for Your Thoughts – Give Your 2₵ on #CUNA Surveys

By now we are all aware of the Letter to Credit Unions sent in January by the NCUA, which stated that credit unions would be assessed civil money penalties if they did not meet the call report filing deadlines.  The first quarter filing deadline has come and gone, and as a result of late filing, […]

Viva Las Vegas #CUNA Lending

If you are sitting around wondering what you are going to do next week and can’t come up with anything exciting, you should join us in Las Vegas next week for CUNA’s Lending Compliance School. We will be hanging out with credit union folks and talking about all the exciting things going on in lending […]
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