Compliance

Know the Rules on Holiday Gifts

December 17, 2014
As the holiday gift-giving season begins, it’s a good time to review your CU’s Bank Bribery Act policy. READ MORE

Lending Regulatory Headwinds: 2015 Style

December 16, 2014
Consumer Financial Protection Bureau may have a direct impact on CUs’ portfolio mix. READ MORE

Compliance Q&A: Unauthorized Transactions

December 01, 2014
Does a consumer's negligence affect his or her liability in the event of a lost or stolen debit card? READ MORE

CFPB Proposes TILA-RESPA Changes

December 01, 2014
Proposal would relax timing requirement for rate locks. READ MORE

Ten Issues on the CFPB's Radar

November 25, 2014
What are the top compliance areas in the bureau's sights next year? READ MORE

Six Ways to Promote a BSA Compliance Culture

November 24, 2014
Creating a culture of compliance starts at the top. READ MORE

Prepare Now for Looming TILA/RESPA Changes

November 04, 2014
'This is the largest mortgage lending regulatory compliance change seen by CUs in recent times.' READ MORE

Compliance Q&A: Risk-based Pricing Notice

November 01, 2014
Must a CU provide a risk-based pricing notice to a co-signor? READ MORE

Human Smuggling and Human Trafficking Red Flags

November 01, 2014
How to detect and report suspicious financial activity that might be related to human trafficking. READ MORE

Fed Interchange Report: No Reg II Changes on the Horizon

November 01, 2014
The Fed will maintain its interchange fee standard and fraud prevention adjustment after reviewing data from a September interchange report. READ MORE

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

#BSA #AML Examination Manuel Update released

On December 2nd the Federal Financial Institutions Examination Council (FFIEC) released the much anticipated revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. An update for this manual had not been released since 2010. The revisions clarify supervisory expectations and incorporate regulatory changes since the last update. Numerous revisions have been made throughout the manual. Sections […]

#FannieMae & #FreddieMac’s New Guidelines Aim to Make Mortgage Lending Easier

New guidelines from Fannie Mae and Freddie Mac took effect this Monday, with the intent of relaxing lending standards for borrowers.  The new guidelines provide clarification on when lenders can be penalized for making mistakes in mortgages they sell to Fannie and Freddie.  Prior to the update, lenders  cautious of making a mistake kept strict standards […]

Proposed Changes to Mortgage Servicing Rules

On November 20th the Consumer Financial Protection Bureau (“CFPB”) proposed to amend several mortgage servicing rules under both Regulation Z and Regulation X. The proposed rule is 492 pages long and to date has not been thoroughly vetted. However, let’s take a look at some of the highlights: Successors in Interest: A successor in interest […]
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