Compliance

Help Members Switch to Direct Deposit

March 01, 2012
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

Capitol Gridlock

March 01, 2012
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

C-O-M-P-L-I-A-N-C-E By The Letters

March 01, 2012
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

CFPB: A Cry From The Heart

February 10, 2012
CUs face a deluge of rules both baffling and complex. READ MORE

Handle Medical Information With Care

February 01, 2012
The Fair Credit Reporting Act limits consumer reporting agencies' ability to furnish reports containing consumers' medical information. READ MORE

Consumers Confused About Credit Card Terms

February 01, 2012
In December 2011, the Consumer Financial Protection Bureau (CFPB) issued a report on its first three months of collecting credit card complaint data.  READ MORE

NCUA Posts List of Regs to Review

January 30, 2012
Under review in 2012 are rules governing bylaws, fields of membership, fixed asset ownership, mergers, corporate credit unions, and more. READ MORE

CUNA Urges CFPB to Provide Reg Relief

January 23, 2012
CUNA cites need to address a number of issues, including ATM disclosures and HMDA triggers. READ MORE

Court OKs Up-Front Card Fees

January 13, 2012
The original rule regarding the limitation of fees during the first year after an account is opened remains in place and credit unions should continue to comply with it. READ MORE

Compliance Q&A: Branch Office Closures

January 13, 2012
Also covered are questions about NMLS administrators, FCRA negative information notices, and garnishment orders. 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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