Legal Briefs

National Credit Union Administration (NCUA)

The NCUA announced that it is drafting a proposed rule that would require credit unions with assets over $10 billion to perform annual stress tests.

During the September Board Meeting, the NCUA approved a proposed rule that would allow federal credit unions to create and fund charitable accounts.

The NCUA posted training videos for the supervisory committees of small credit unions to help the members of the supervisory committees better understand their responsibilities.

Consumer Financial Protection Bureau (CFPB)

The CFPB released a new tool for consumers to review mortgage data collected under HMDA.

The CFPB has published final rules amending several of the mortgage rules released earlier this year. 

The CFPB released guidelines for examiners to use when reviewing short-term loans made to servicemembers by payday lenders.

Federal Financial Institutions Examination Council (FFIEC)

The FFIEC announced that it has released the 2012 HMDA data.  

Federal Reserve Board (FRB)

The FRB has set the September 2013 HOEPA rates.  

The September issue of FedFlash has been released.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Sept. 18, 2013. The last update prior to this was Sept. 6, 2013.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Compliance News, Federal, NCUA.