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News (CompliancePro Blog)

Reg Alert Reminds Of Remittance Requirements, Compliance Deadline

ALEXANDRIA, Va. (7/29/13)--The National Credit Union Administration has reminded credit unions of recent major changes to the remittance transfer rule by the Consumer Financial Protection Bureau (CFPB), and the upcoming Oct. 28 compliance date, in a new Regulatory Alert (13-RA-06).

Under the rule, remittance... More

COPPA July 1 Effective Date Prompts FTC Guidance

FROM CUNA's News Now
WASHINGTON (7/3/13)--Changes to the Federal Trade Commission's (FTC) Children's Online Privacy Protection Act (COPPA) rule took effect on July 1, and the FTC has followed up on that deadline by releasing two new sets of guidance.

The COPPA rules address the collection, use, and/or... More

League Issues Four Operations Releases

The League released four new operations releases in June 2013. Those releases have already been sent to our member credit unions via direct mail, and those of you who attended the League’s quarterly compliance webinar (on June 11, 2013) have already received electronic versions of them. 

For those... More

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

League Offers Online Info Tool on New Mortgage Lending, Servicing Regulations

The Consumer Financial Protection Bureau (CFPB) has finalized a series of new and amended regulations that will significantly impact mortgage lending and servicing. The majority of the new regulations will not go into effect until January 2014, but there are a few that will go into effect as early as... 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

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