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Minimizing the Impact Of Interchange Provisions

August 19, 2010

While small issuers won't be covered by the Fed's rule on interchange fees, they'll still be affected by it. READ MORE

Fed Approves Gift Card Rules

August 19, 2010

Comments on the interim final rule must be submitted within 30 days after publication in the Federal Register, which is expected shortly.

Compliance Q&A: Online Credit Card Apps

August 02, 2010

Can a credit union take online and telephone credit card applications from applicants under age 21? READ MORE

Compliance Matters

August 01, 2010

Garnishments and federal benefits, and UIGEA exam guidelines, and more.

Update on Identity Theft 'Red Flags'

July 19, 2010

Last year, identity theft was the Federal Trade Commission's (FTC) No. 1 consumer complaint category. READ MORE

Crises Create Compliance Burdens, and 'This One's a Doozy'

July 14, 2010

Sixty-one new regulatory pronouncements were made in 2009 and more are expected in 2010. How can CUs deal with this growing burden? READ MORE

A debit card geared to teenagers has generated strong interest among youth seeking financial independence and parents not yet ready to cede all financial controls. Meriwest Credit Union’s new Flow Account allows teenagers to carry a personal Visa Debit Card rather than cash. READ MORE

Compliance Q&A: FCRA and Prescreened Credit Offers

July 07, 2010

Q: Is a credit union allowed to use previously obtained credit report information to make prescreened credit offers?

Compliance Q&A: Good Faith Estimates

July 02, 2010

If a mortgage transaction involves residential property that is new construction, and the mortgage may not close for months, will this impact when you provide the good faith estimate to the borrower? READ MORE

Compliance Matters

July 01, 2010

At press time, the National Credit Union Administration (NCUA) and all of the federal banking agencies (except the Office of Thrift Supervision) had approved the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act) regulations. READ MORE

Credit Union Magazine

• May digital edition

May 2013

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

Free Grant Webinar for Low Income Designated Credit Unions

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 [...]

Qualified Only

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 [...]

The Final Final Remittance Transfer Rule

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 [...]