Compliance

Pay Discrimination Suits: The Door Widens

March 31, 2009
Karen Saul With pay discrimination, each paycheck is a new filing opportunity. The Lilly Ledbetter Fair Pay Act of 2009, the first legislation President Obama signed into law, has a retroactive effective date of May 28, 2007. It applies to all claims of discriminatory compensation pending on or after that... READ MORE

Let's Get Down To Business

March 30, 2009
Mike Schenk CUs could lend an additional $10 billion to the nation’s small businesses. Small businesses are noticing the credit union difference. While other lenders have tightened or curtailed business lending, credit unions have increased it. Federal Deposit Insurance Corp. statistics show banking industry business loans increased only 8% in... READ MORE

Work Continues On Stabilization Program

March 30, 2009
Mary Dunn The final costs to CUs are unknown at this time. Most agree the National Credit Union Administration (NCUA) Board needed to act in January to assist the corporate credit unions and that it had few options. Concerned about capital and liquidity in these institutions that also might affect... READ MORE

Look for Opportunities Behind Corporate Banter

March 30, 2009
Pam Finch NCUA’s corporate CU proposal liberates movement leaders to talk structure. When news of the National Credit Union Administration’s (NCUA) corporate stabilization plan broke, you almost could see the smoke rising from the network server housing the CUNA CFO Council e-mail list activity. The opinions and emotions of the... READ MORE

CUs Need Conflict of Interest Policies, Disclosures

March 30, 2009
Kathleen Thompson Take note of IRS Form 990’s new Part VI on nonprofit governance. A new Internal Revenue Service (IRS) requirement has focused attention on credit unions’ need for conflict of interest policies and annual disclosure processes for board members and senior staff to report possible conflicts. Review a sample... READ MORE

'We'll Get Through This Together'

March 27, 2009

CUNA President/CEO Dan Mica to GAC attendees: 'Our work as your trade association is focused on finding other alternatives...and mitigating the cost to CUs.'

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New Card Rules Spark Review

February 20, 2009
Michael McLain NCUA changes prohibit certain credit card practices for FCUs. The National Credit Union Administration (NCUA), Office of Thrift Supervision, and Federal Reserve Board issued final rules in December 2008 to better protect credit card users. The rules prohibit certain unfair and deceptive acts or practices, and improve consumer... READ MORE

Steer Members From Fuelish Loans

February 20, 2009
LEAD STORY When gasoline prices surpassed $4 per gallon last summer, siphoning consumers’ discretionary income, some members of Holy Rosary Credit Union, Rochester, N.H., faced the prospect of borrowing money to pay home heating expenses when winter came. That didn’t sit well with Brian Hughes, president/CEO of the $135 million... READ MORE

Compliance Q&A: Electronic Disclosures

February 20, 2009
By Valerie Moss Q True or false: Credit unions must maintain electronic disclosures on their home banking Web sites for at least 90 days.   A False . The Federal Reserve Board eliminated this requirement because industry practice is to retain the information for much longer. The Fed also eliminated... READ MORE

Lender Liability Lawsuits on the Rise

February 20, 2009
By John Wallace Have you recently repossessed or foreclosed on any collateral? Have your delinquencies increased during the past 12 to 18 months? If so, these are signs your lender liability exposure has increased. Given today’s increasing foreclosures, repossessions and collections, lender liability lawsuits likely will continue to rise. In... READ MORE

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

Scammers and Fraudsters and Thieves, Oh My!

You’re not the only one excited to see your W2 form in the mailbox – the bad guys are looking forward to it too.  More and more criminals each year are stealing people’s identities so that they can file fraudulent tax returns.  The IRS estimated it paid more than $5 billion in fraudulent tax refunds […]

New Year’s Resolution: Brush up on TILA’s Right to Rescind?

In her post on November 18, 2014, my colleague Jennifer Anderson-Kapke made you aware of a case pending before the United States Supreme Court (“SCOTUS”) – Jesinoski v. Countrywide Home Loans. SCOTUS rendered its decision in the case on January 13th. Let’s take a look at what your credit union needs to know. Background On […]

Treasury Lightens Sanctions on Cuba

Anyone a fan of Cuban cigars?  Many people are.  And to be honest, this is probably motivated in part because of the unobtainable factor, since the US has had strong sanctions against Cuba for quite some time. What does this have to do with Credit Union compliance you ask?  Well, effective January 16th, a Cuban […]
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