Legal Briefs February 17, 2011


US Treasury

The US Treasury released an overview of President Obama’s plan to reform America’s Housing financial Market.  The plan includes critical measures to help fix fundamental flaws in the mortgage market and wind down Fannie Mae and Freddie Mac.


National Credit Union Administration

The NCUA released regulatory alert 11-RA-01The regulatory alert covers the submission of 2010 HMDA data for credit unions over $39 million in assets.

The NCUA released the Bridge Corporate Consolidation Policy Statement. 

The NCUA released regulatory alert 11-RA-02The regulatory alert covers HMDA data requirements for 2011.


Office of Foreign Assets Control

The OFAC SDN list was updated again.  Last update February 14, 2011.



The FFIEC released an updated IT examination handbook.  While the update does not implement any changes to the content of the IT Handbook or related guidance, the new IT InfoBase will be the primary distribution method for the IT Examination Handbook.



NACHA has proposed new ACH security framework.  The framework is an outline of topics that potentially could be addressed by proposed new rules.  Comments are due by March 25, 2011.


Posted in NCUA.