Legal Briefs

National Credit Union Administration (NCUA)

The NCUA announced that it will push the effective date for the new loan participation rule to September 23, 2013 (original effective date was July 25, 2013).

NCUA Chairman Debbie Matz will be hosting a Town Hall Webinar on Thursday, July 18, 2013.

The NCUA, along with 5 other federal regulators, issued a proposed rule that would create exemptions from certain appraisal requirements for some higher-priced mortgage loans.

Consumer Financial Protection Bureau (CFPB)

The CFPB released their semi-annual update of their rulemaking agenda.

The CFPB published their final list of rural and underserved counties for 2014.

The CFPB finalized certain aspects of the Ability-to-Repay and Loan Servicing Rules.

Federal Reserve Board (FRB)

The FRB has published its latest issue of FedFocus.

The second quarter issue of the Fed’s Consumer Compliance Outlook publication has been released.

Financial Crimes Enforcement Network (FinCEN)

FinCEN has issued a warning to consumers regarding individuals posing to be from FinCEN and asking for money.

Federal Deposit Insurance Corporation (FDIC)

The FDIC Board announced that it has approved the Basel III interim final rule.

The FDIC, FRB, and OCC issued a notice of proposed rulemaking regarding supplementary leverage ratios.

The agenda from the July 9 FDIC Board Meeting is now available.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of July 11, 2013. The last update prior to this was July 9, 2013.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Around the NW, Compliance News, Economy, Federal, NCUA, NWCUA.