Legal Briefs

National Credit Union Administration (NCUA)

The NCUA announced that it will be building a new risk-based capital framework for credit unions to help protect the industry from losses.

The NCUA announced that it will be holding a Secondary Capital webinar on Wednesday, July 31, 2013.

The NCUA issued a reminder regarding the free town hall webinar scheduled for today.

Consumer Financial Protection Bureau (CFPB)

CFPB Director Richard Cordray delivered prepared remarks to the Senate during his confirmation as Director of the CFPB.

The CFPB announced that it has issued the finalized clarifications to the ability-to-repay and mortgage servicing rules.

The CFPB, along with several other agencies, issued proposed rules to exempt certain higher-priced mortgage loans from appraisal requirements.

CFPB Director Richard Cordray delivered a prepared speech to credit union professionals.

Federal Reserve Board (FRB)

Chairman Bernanke delivered a speech discussing the first 100 years of the Federal Reserve.

The FRB Services has announced the release of training materials regarding the new $100 bill.

The latest edition of FedFlash is now available.

The FRB System has announced an upcoming webinar regarding fair lending considerations for indirect auto lending, to be held on Tuesday, August 6, 2013.

The FRB released the August HOEPA rates.

Financial Crimes Enforcement Network (FinCEN)

FinCEN issued a ruling aimed at clarifying the requirements for CTRs when the transaction is conducted by an armored car service.

Division of Credit Unions, Washington State Department of Financial Institutions (DCU)

The DCU has issued several bulletins pertaining to the WA State Credit Union Act, indirect manufactured home lending, and model bylaws.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Compliance News, NCUA.