Legal Briefs

National Credit Union Administration (NCUA)

The NCUA has released a letter to credit unions detailing their recommendations for how all credit unions should handle the Dec. 31 expiration of the unlimited share insurance for non-interest bearing accounts.

Consumer Financial Protection Bureau (CFPB)

The CFPB announced that it is reorganizing its headquarters staff for supervision.

The CFPB announced that it will be holding two field hearings in January to discuss mortgage policy.

The CFPB issued a press release asking consumers and financial institution representatives to weigh in on how the CARD Act has impacted consumers and card issuers.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Dec. 19, 2012. The last update had been on Dec. 18, 2012.

Federal Deposit Insurance Corporation (FDIC)

The FDIC issued its winter 2012 Supervisory Insight report. An article in the report entitled, “Mobile Payments: An Evolving Landscape” provides a good overview of the mobile payments challenges that institutions could be facing.

Financial Crimes Enforcement Network (FinCEN)

FinCEN is seeking comments on renewing (without changes) the requirement for information sharing between government agencies and financial institutions.

Federal Reserve Board (FRB)

The December edition of FedFlash is now available.

Federal Trade Commission (FTC)

The FTC announced the adoption of final amendments to the Children’s Online Privacy Protection Rule. The amendments are geared towards strengthening the privacy protections on websites for children under 13.

National Mortgage Licensing System (NMLS)

The NMLS has announced that the 2013 Annual Conference and Training will be held on Feb. 26, 2013 in San Antonio, Tex.

Government Accountability Office (GAO)

The GAO issued a report, Dodd-Frank Act: Agencies’ Efforts to Analyze and Coordinate Their Results, detailing its analysis of the regulations issued pursuant to the Dodd-Frank Act. 


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