Compliance

The first thought a CU has when it learns a member is in the military or is about to go on active  duty is that it will have to comply with the Servicemembers Civil Relief Act. READ MORE

What will the CU movement look like in 2034—the centennial of the first federally chartered credit union? READ MORE

New approach by regulator isn't mean to cause undue burden on CUs. READ MORE

"We want all financial institutions—all of your competitors—to be held to the same kind of accountability that credit unions face every day." READ MORE

The Consumer Financial Protection Bureau is taking very seriously its role as protector of consumers against abusive credit providers. READ MORE

The Treasury Department requires all federal benefit check recipients to switch to an electronic payment method by March 1, 2013. CUs can help members make the switch to direct deposit now. READ MORE

Political science professors have been known to tell this joke to their first-year students. Recently, Congress has done an excellent job of living up to the spirit of that joke. READ MORE

Google the word “compliance” and you get about 362 million results, which seems like the number of regulations credit unions are expected to comply with today. READ MORE

CUs face a deluge of rules both baffling and complex. READ MORE

The Fair Credit Reporting Act limits consumer reporting agencies' ability to furnish reports containing consumers' medical information. READ MORE

If you remember last summer, NCUA’s Office of Consumer Protection notified over 1000 federal credit unions across the country of their eligibility for low income designation.  NCUA’s initiative was in part due to President Obama’s relief and recovery package to help drought stricken states across the country.   Many of you accepted the designation; however, do [...]

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to purchase only qualified mortgages as of January 10, 2014. For those of us that follow the secondary mortgage market and compliance regulations, this shouldn’t be much of a surprise.   The new CFPB rule allows for loans to be underwritten as either [...]

It’s here! Last week the CFPB issued the new final version of the remittance transfer rule. The final rule, which was originally supposed to be effective in February, has now been re-issued. The CFPB has given financial institutions additional time to comply with the rule so the new effective date is October 28, 2013. This [...]