Compliance

Cramdowns: CUs Not Out of the Woods

June 17, 2009
A Supreme Court decision leaves an open question on unsecured second mortgages. Michael McLain It’s unlikely Congress will reconsider cramdown legislation in the short term, following its defeat in the Senate this spring. Before breathing a sigh of relief, you might want to read the rest of this article. The... READ MORE

Rebate Nets $13.5 million

June 17, 2009
LEAD STORY Despite a local economy mired in recession, American 1 Federal Credit Union’s recent loan rebate promotion showed there’s room for loan growth in Michigan. The $163 million asset, Jackson-based credit union offered a loan rebate in April that will give members who financed a closed-end, secured loan half... READ MORE

CU Grassroots Sprout Thick

June 17, 2009
Recent Hill actions prove the CU voice is heard in Washington. Mark Wolff Credit unions are known in Washington, D.C., for the power of their grassroots-based political involvement. A significant portion of the Credit Union National Association’s (CUNA) advocacy efforts go to grassroots cultivation. There’s the Hike the Hill program... READ MORE

Midyear Reflection

June 17, 2009
The first six months saw great challenges. More will come. Daniel A. Mica It has been said that time has no divisions to mark its passage. It’s just us humans who bang a drum, shoot off some fireworks, or declare a holiday to celebrate the moment. So, here’s a very... READ MORE

Compliance Q&A: ID Theft Red Flags

May 28, 2009
By Valerie Moss Q Are credit unions required to provide member education as a part of their identity theft red flag programs?   A No. The regulation calls for staff training as necessary to implement the program. Even though member education isn't mentioned as a required program element, it’s still... READ MORE

TV Ads In the DVR Age

May 20, 2009
LEAD STORY Have hundreds of cable channels and the popularity of digital video recorders (DVR) rendered credit union television advertising obsolete? Nathan Tothrow doesn’t think so. “A lot of folks say TV advertising is dead because of DVR. But there’s not enough data to make that assertion,” says the vice... READ MORE

Focus on the 'Open' In Open-End Lending

May 20, 2009
Review your practices, policies, and procedures to determine if you want to continue to use multifeatured open-end lending as a primary consumer lending strategy. READ MORE

He Did What? You're Fired!"

May 20, 2009
Karen Saul Pay close attention to the Supreme Court’s decision on retaliation. Title VII of the Civil Rights Act of 1964 forbids retaliation against employees reporting discrimination. The Supreme Court recently ruled that protection extends to employees who don’t initiate discrimination complaints but who divulge discrimination occurred when asked during... READ MORE

Corporate System Saga Continues to Unfold

May 20, 2009
Mary Dunn One positive development is federal legislation to amend the Federal CU Act. The National Credit Union Administration’s (NCUA) assistance to the corporate credit union system remains the chief topic of frustration and concern throughout the credit union system, based on the telephone calls and e-mails the Credit Union... READ MORE

Your FCRA Duties Bayond Red Flag Rules

May 20, 2009
Valerie Moss CUs have specific responsibilities as furnishers and users of credit reports. There’s much more to the Fair Credit Reporting Act (FCRA) identity (ID) theft requirements than the red flag rules. The Fair and Accurate Credit Transactions (FACT) Act amendments to the FCRA established requirements for credit bureaus, financial... READ MORE

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

Comment on #CFPB HMDA Proposal

Recent regulatory activity has kept the industry writing comment letters in droves, but now is no time to stop writing letters! The CFPB recently proposed a rule updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA). Significant provisions in the proposal include; an adjustment to the covered entities that must report HMDA data, […]

Penny for Your Thoughts – Give Your 2₵ on #CUNA Surveys

By now we are all aware of the Letter to Credit Unions sent in January by the NCUA, which stated that credit unions would be assessed civil money penalties if they did not meet the call report filing deadlines.  The first quarter filing deadline has come and gone, and as a result of late filing, […]

Viva Las Vegas #CUNA Lending

If you are sitting around wondering what you are going to do next week and can’t come up with anything exciting, you should join us in Las Vegas next week for CUNA’s Lending Compliance School. We will be hanging out with credit union folks and talking about all the exciting things going on in lending […]
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