Legal Briefs

National Credit Union Administration (NCUA)

The February edition of the NCUA’s Economic Update is now available.

A brief description of the outcome of the Feb. 21 NCUA board meeting is now available.  

The NCUA has released some information and materials to help credit unions and members prepare for America Saves week.

NCUA Board Chairman Debbie Matz delivered a speech detailing the “new” NCUA at this week’s Credit Union National Association (CUNA) Governmental Affairs Conference (GAC).

The NCUA issued a Letter to Credit Unions (13-CU-02) to help clarify the member business lending (MBL) waiver requirements and process.

Consumer Financial Protection Bureau (CFPB)

The CFPB is requesting information from consumers, lenders and others regarding student loans and how the process and affordability of these loans could be improved.

The CFPB published the prepared remarks of the speech delivered by Director Richard Cordray at the CUNA GAC.

Nationwide Mortgage Licensing System (NMLS)

The NMLS has announced that it will make disciplinary action information provided by registered mortgage loan originators (MLOs) publicly available on the NMLS consumer website beginning March 18, 2013.

Federal Reserve Board (FRB)

The FRB has published the Semiannual Monetary Policy Report to the Congress delivered by Chairman Bernanke.

Financial Crimes Enforcement Network (FinCEN)

FinCEN has released an advisory to alert tax filers of the dangers of tax refund fraud and related identity theft.

FinCEN’s Director released a prepared statement that was delivered to the Securities Industry and Financial Markets Association Anti-money Laundering and Financial Crimes Conference.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Feb. 26, 2013. The last update prior to this was Feb. 22, 2013.

Financial Accounting Standards Board (FASB)

FASB has issued a proposed accounting standards update regarding derivatives and hedging.

Oregon Department of Consumer & Business Services (DCBS)

DCBS has issued a press release discussing its participation in America Saves Week. The department has also launched a website to provide consumers with tips on how to better budget and save.

Washington State Department of Financial Institutions (DFI)

DFI has issued a statement outlining its participation in America Saves Week. 


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Advocacy News, Business Solutions, Compliance News, Industry Insight, NCUA, Strategic Link.