Compliance

He Did What? You're Fired!"

May 20, 2009
Karen Saul Pay close attention to the Supreme Court’s decision on retaliation. Title VII of the Civil Rights Act of 1964 forbids retaliation against employees reporting discrimination. The Supreme Court recently ruled that protection extends to employees who don’t initiate discrimination complaints but who divulge discrimination occurred when asked during... READ MORE

Corporate System Saga Continues to Unfold

May 20, 2009
Mary Dunn One positive development is federal legislation to amend the Federal CU Act. The National Credit Union Administration’s (NCUA) assistance to the corporate credit union system remains the chief topic of frustration and concern throughout the credit union system, based on the telephone calls and e-mails the Credit Union... READ MORE

Your FCRA Duties Bayond Red Flag Rules

May 20, 2009
Valerie Moss CUs have specific responsibilities as furnishers and users of credit reports. There’s much more to the Fair Credit Reporting Act (FCRA) identity (ID) theft requirements than the red flag rules. The Fair and Accurate Credit Transactions (FACT) Act amendments to the FCRA established requirements for credit bureaus, financial... READ MORE

Skittish Lawyers Net Reaffirmation Woes

April 27, 2009
Michael McLain Some attorneys balk due to concerns about liability or clients’ ability to pay. Ease the anxieties of debtors’ attorneys, and your reaffirmation agreements are more likely to stick. Ordinarily, when a debtor’s attorney participates in reaffirmation agreement negotiations during a Chapter 7 bankruptcy, the reaffirmation must contain a... READ MORE

Online Gambling: Don't Bet on It

April 27, 2009
Valerie Moss Gambling reg has implications for CU transactions and relationships. Credit unions participating in certain payment systems will have to verify at account opening that their member businesses aren’t Internet gambling outfits and have procedures in place to prevent restricted transactions. That’s according to a regulation effective Jan. 19... READ MORE

Marketing: Do More With Less

April 27, 2009
LEAD STORY Take these steps to get more from your marketing budget, advises Anne Legg, vice president of marketing for $168 million asset Cabrillo Credit Union, San Diego, and chair of the CUNA Mar-keting & Business Development Council Executive Committee: Evaluate processes. Map out your marketing activities and “sculpt” away... READ MORE

The Barometer of Influence

April 27, 2009
John Magill The movement’s political force has put CUNA at the bargaining table with legislators. Influence is to Congress what the dollar is to the economy. Both allow the holder to obtain a desired product. In the economy, the dollar gives you purchasing power. In Congress, influence gives you power,... READ MORE

Pay Discrimination Suits: The Door Widens

March 31, 2009
Karen Saul With pay discrimination, each paycheck is a new filing opportunity. The Lilly Ledbetter Fair Pay Act of 2009, the first legislation President Obama signed into law, has a retroactive effective date of May 28, 2007. It applies to all claims of discriminatory compensation pending on or after that... READ MORE

Let's Get Down To Business

March 30, 2009
Mike Schenk CUs could lend an additional $10 billion to the nation’s small businesses. Small businesses are noticing the credit union difference. While other lenders have tightened or curtailed business lending, credit unions have increased it. Federal Deposit Insurance Corp. statistics show banking industry business loans increased only 8% in... READ MORE

Work Continues On Stabilization Program

March 30, 2009
Mary Dunn The final costs to CUs are unknown at this time. Most agree the National Credit Union Administration (NCUA) Board needed to act in January to assist the corporate credit unions and that it had few options. Concerned about capital and liquidity in these institutions that also might affect... READ MORE

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

NCUA Small Business Lending Resource Center

Does your credit union currently offer member business loans (MBLs)? Do you ever feel overwhelmed trying to find regulatory guidance or other important information pertaining to member business lending? Recently, the NCUA announced the...

CFPB Action on Deceptive Advertising

In February, the CFPB took action against three mortgage companies, Flagship Financial Group , American Preferred Lending , and All Financial Services , for allegedly violating Regulation N, Mortgage Acts and Practices Advertising.  This rule prohibits “any person to make...

Integrated Disclosures: Will You ComplyRight?

The next big ticket item on your compliance to-do is preparing for the CFPB’s Integrated Disclosures rule which becomes effective August 1st. The rule combines the disclosures required under Regulation Z and RESPA into...
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