Anthem
Jenny Miller
Senior Manager, Communications
Phone: 208.350.6187
Toll-free: 800.995.9064 x310
Jenny Miller is the Communications Manager for the Northwest Credit Union Association. In this role, she oversees NWCUA’s weekly newsletter, Anthem, and contributes to it weekly as a lead writer. She also contributes toward the organization’s various communications plans, unifying credit union voices to strengthen the Movement. Miller holds a bachelor’s degree in English with an emphasis […]
Legal Briefs April 7, 2011
April 7, 2011
National Credit Union Administration
The NCUA released Letter to Credit Unions 11-CU-03. This letter to credit unions reviews the state of the credit union industry and financial trends. The NCUA will be focusing on credit risk, interest rate risk, and concentration risk.
Office of Foreign Assets Control
The OFAC SDN list was updated again. Last update April 04, 2011.
IRS
The IRS issued Interim guidance on information reporting of employer-sponsored health coverage. The Interim guidance notes that reporting is voluntary for all employers for 2011 and small employers in 2012. The IRS also emphasizes that this new reporting to employees is for their information only.
FASB
The FASB released accounting standards update to improve the financial reporting of TDRs. The Update 2011-02 clarifies which loan modifications constitute troubled debt restructurings. Credit unions should apply the amendments prospectively for the first interim or annual period beginning on or after June 15, 2011.
Questions? Contact our Compliance team: 1.800.546.4465, compliance@nwcua.org
Posted in NCUA.