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News (CompliancePro Blog)

Final Garnishment Rule Is Out, Clarifies Proposal

Source: Credit Union National Association

As of June 28, a new final rule issued by the U.S. Treasury Department and several other federal agencies will establish procedures that credit unions must follow when they receive a garnishment order against an account holder who receives certain federal benefit... More

NCUA's New Guidance on MFOEL Lending

By Nathan Bowden, CUCE, BSACS 
Director of Compliance and Regulatory Affairs

Any credit unions doing open-end lending will almost certainly know that underwriting is allowed only at the time of account opening and that the only credit-related scrutiny that can occur thereafter is occasional ... More