ALEXANDRIA, Va. (8/28/13)--Credit unions have until Sept. 3 to comment on a National Credit Union Administration proposal to require all federally insured credit unions (FICUs) to file financial, statistical, and other reports and credit union profiles with the agency only electronically.
The current... More
Details of the Consumer Financial Protection Bureau's new rule on real estate appraisals and other written valuations under the Equal Credit Opportunity Act, and how the rule could impact credit unions, are addressed in a new National Credit Union Administration Regulatory Alert (13-RA-07).
The appraisal... More
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
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
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
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
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
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