Legal Briefs

National Credit Union Administration (NCUA)

The NCUA has posted the archived version of the July 18 town hall webinar.

The NCUA announced that Senator Metsger was confirmed for the NCUA Board position.

NCUA Board Member Fryzel spoke at the American Association of Credit Union Leagues, outlining the NCUA’s priorities.

The NCUA announced that it will be holding a budget preparation webinar on Aug. 13, 2013. The webinar is open to credit unions of all sizes and will focus on the design and implementation of a budget within a credit union that falls in line with the strategic mission of the credit union.

Chairman Matz spoke at the African-American Credit Union Coalition’s annual conference and praised minority credit unions for fostering economic diversity and opportunity in the communities they serve. Matz also discussed the NCUA’s efforts to promote diversity, including the creation of the Office of Minority and Women Inclusion.

The NCUA issued a proposal that would require all federally insured credit unions (FICUs) to file financial, statistical, and other reports and credit union profiles electronically. Currently, FICUs are only required to file electronically if they have the capacity to do so.


Consumer Financial Protection Bureau (CFPB)

The CFPB released an article that took a closer look at the outstanding student loan debt in the country.  

The CFPB released a mid-year report that details complaints received from individuals regarding their student loans through private companies.


Federal Reserve Bank (FRB)

The FRB will hold a webinar on conducting consumer compliance risk assessments on Aug. 20, 2013. The webinar will discuss risk assessments and their importance, red flags, and suggestions on way to complete certain risk assessments.

The FRB has released its July Federal Open Market Committee statement.


Federal Deposit Insurance Corporation (FDIC)

The FDIC released a technical assistance video on Interest Rate Risk. While this video doesn’t directly pertain to credit unions, it contains beneficial information that discusses the different types of interest rate risk, measurement systems, and mitigation options.


Federal Trade Commission (FTC)

The FTC has released new information for consumers on preventing and dealing with hacked email or social media accounts.


Washington State Division of Credit Unions (DCU)

The DCU released a bulletin detailing their stakeholder meeting on rule making for reasonable compensation. The meeting will be held on Aug. 27, 2013.


Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of August 6, 2013. The last update prior to this was Aug. 1, 2013.

 

Questions? Contact the Compliance Hotline: 1.800.546.4465, compliance@nwcua.org

Posted in Compliance, Federal, NCUA.