Compliance

The Story of the Evil Weasel

June 14, 2011
In an epic battle between an evil weasel and elected officials, bet on the weasel. READ MORE

Ready for July 21?

June 11, 2011
July 21, 2011, is a significant date for all credit union compliance staff. Why? READ MORE

Cheney ‘Deeply Disappointed’ Over Interchange Vote

June 09, 2011
The Senate on Wednesday rejected an amendment from Sens. Jon Tester, D-Mont., and Bob Corker, R-Tenn., that would have delayed implementation of the Federal Reserve’s debit card interchange fee cap. READ MORE

Compliance Matters: Mortgage Origination Standards

June 01, 2011
Mortgage origination standards, MLO registration, ATM signage, and more. READ MORE

Garnishment Rules and Protections

May 18, 2011
The interim final rule restricting garnishments on certain federal benefit payments went into effect on May 1, 2011. Credit unions have until May 24, 2011 to submit comments. READ MORE

Compliance Matters: Comment on Reg CC Proposal

May 01, 2011
Reg CC proposals, credit score disclosures, streamlined BSA regulations, and more. READ MORE

Write Comment Letters That Work

April 28, 2011
NCUA Chairman says the agency sometimes makes significant changes to regulations based on CU comment letters. READ MORE

NCUA Eliminates Two Controversial Corporate Requirements

April 21, 2011
NCUA improved its corporate CU rule by eliminating requirements that were at odds with CUs' interests and the agency’s legal authority. READ MORE

Agencies Issue Rule on Garnishments

April 17, 2011
Garnishment orders, Reg Z escrow rules, an elder law advisory and more. READ MORE

‘You’ve Got to Be Kidding Me!’

April 14, 2011
New mortgage disclosures mean CUs face a short compliance timeframe and difficult problems to solve. Again. 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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