Legal Briefs

National Credit Union Administration (NCUA)

During the NCUA’s October Board Meeting, the Liquidity Rule, among others, was finalized.

The NCUA has released a new economic analysis.

The NCUA announced that it will host a webinar on Nov. 14 aimed at teaching credit unions how to deter employee fraud through strong internal controls.

The NCUA released two Letters to Credit Unions that provide details on emergency liquidity and electronic filing of Call Reports.

Consumer Financial Protection Bureau (CFPB)

The CFPB, along with other regulatory agencies, has released a proposed policy statement establishing standards for assessing the diversity policies and practices of financial institutions.

The CFPB released four guides aimed at helping individuals tasked with managing someone else’s money (fiduciaries) understand their responsibilities.

The CFPB is working to educate consumers about the new protections available under the remittance transfer rule.

Federal Deposit Insurance Corporation (FDIC)

The FDIC published their notice for the Oct. 30 board meeting.

Federal Reserve Board (FRB)

The FRB, along with other regulatory agencies, issued an Interagency Supervisory Guidance Addressing Certain Issues Related to Troubled Debt Restructurings.

The FRB issued a proposed rule to strengthen the liquidity of large financial institutions.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Oct. 30, 2013. The last update prior to this was Oct. 29, 2013.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Compliance News, NCUA.