Compliance Q&A

April 01, 2008
Compliance Q&A April 1, 2008 Q Can federally insured credit unions accept appraisals transferred from other financial institutions? A Yes, so long as: The appraiser is engaged directly by the institution transferring the appraisal; The appraiser has no direct or indirect interest in the property or transaction; The existing appraisal... READ MORE

Compliance Challenge

April 01, 2008
Compliance Challenge April 1, 2008 By Kathy Thompson Editor's note: Some links in this article go to CUNA's member's only pages, and are available only to affiliated credit unions. I'm just recovering from CUNA's Governmental Affairs Conference (GAC), so be a little patient as I dig out and catch up... READ MORE

Compliance Challenge: Coming Attractions

March 01, 2008
Compliance Challenge: Coming Attractions March 1, 2008 By Kathy Thompson The Golden Globe Awards were reduced to a press conference, the SAG awards were relegated to cable, and a glitzy Academy Awards ceremony was up in the air due to the writers' strike. But that won't stop us from announcing... READ MORE

Compliance Q&A

March 01, 2008
Compliance Q&A March 1, 2008 By Valerie Moss Q What's the difference between "blocking" and "rejecting" a transaction under Office of Foreign Assets Control (OFAC) sanction programs? A Some OFAC-administered sanction programs require the "blocking" of assets, and others require the rejection of transactions. When the credit union blocks a... READ MORE

Compliance 2008: A to Z

March 01, 2008
Compliance 2008: A to Z March 1, 2008 By CUNA's compliance attorneys Editor's note: Many of the links in this article are available only to CUNA members . From risk A ssessment to Reg Z , a wide range of regulatory developments, examiner concerns, and potential congressional action will affect... READ MORE

Compliance Q & A

February 01, 2008
Compliance Q & A February 1, 2008 By Valerie Moss Q A national flood determination company has offered to examine ABC CU's loan portfolio free in exchange for the credit union sending the company future business. Is this a permissible business arrangement? A No. The business arrangement would violate Section... READ MORE

Compliance Q & A

January 01, 2008
Compliance Q & A January 1, 2008   Q Must credit unions register with the Federal Reserve for purposes of Regulation U, which governs loans secured by margin stock?   A It depends on whether the credit union makes stock-secured loans and meets certain thresholds. The Federal Reserve Board's Regulation... READ MORE

Compliance Challenge: 'Sale on Aisle Four!'

January 01, 2008
Compliance Challenge: 'Sale on Aisle Four!' January 1, 2008 By Kathy Thompson The end of December in Washington felt like a compliance clearance sale. Things that we had been expecting for months suddenly appeared with no fanfare—thrown into the regulatory sales bin but treasured by the lucky shopper. CUNA's regulatory... 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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