Legal Briefs

National Credit Union Administration (NCUA)

The NCUA will be hosting a webinar on Dec. 14, 2012 to discuss multiple aspects of credit union mergers.

The NCUA released a bulletin detailing the items discussed and approved at the December board meeting.

The NCUA has launched a new website for small credit unions.

Consumer Financial Protection Bureau (CFPB)

The CFPB released a statement detailing how it is working to monitor and improve fair lending regulations.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Dec. 11, 2012. The last update prior to this was on Dec. 7, 2012.

U.S. Department of the Treasury (Treasury)

The Treasury announced a “landmark” settlement with HSBC regarding violations of HSBC’s anti-money laundering (AML) program.

Social Security Administration (SSA)

The SSA announced that it will be adding 35 additional Compassionate Allowance conditions to the disability benefits list.

Federal Deposit Insurance Corporation (FDIC)

The FDIC approved its 2013 operating budget, which is 18.2 percent lower than its 2012 budget.

US Department of Housing and Urban Development (HUD)

HUD released the November housing scorecard, reporting that home values are continuing to rise and that the housing market is strengthening.

Washington State Attorney General

The office of the attorney general in Washington announced that it has filed suit with a company in Florida that is sending spam to Washington State residents via text messages.

Washington State Department of Financial Institutions (DFI)

The Washington DFI is joining other state and federal agencies in combating corporate account takeovers. The effort is aimed to provide financial institutions with best practices that will help mitigate the risk of corporate account takeovers.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Advocacy News, Compliance News, NCUA.