Legal Briefs

National Credit Union Administration (NCUA)

The NCUA announced it will be hosting a two-part webinar series, the first focusing on remittance transfers and a portion of the mortgage rules, the second addressing the rest of the mortgage rules.


The NCUA has released a Letter to Credit Unions discussing a Supervisory Letter it issued on its expectations regarding credit unions’ risk management systems.

Consumer Financial Protection Bureau (CFPB)

The CFPB released a bulletin detailing how lenders can obtain the list of approved homeownership counselors required under the new Regulation X and Z amendments.

The CFPB has released a guide to help seniors ask the right questions when looking for a financial advisor.

Financial Crimes Enforcement Network (FinCEN)

FinCEN has issued two rulings. The first ruling deals with closed-loop prepaid access sold on the secondary market; the second ruling deals with companies that offer a payment mechanism based on payable-through drafts.


NACHA has released two proposed rules to improve ACH network quality and is seeking comments.

Federal Reserve Board (FRB)

The November issue of FedFocus is now available.

Office of Foreign Assets Control (OFAC)

OFAC has updated the SDN list as of Nov. 13. The last update prior to this was Oct. 31.

Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Compliance News, NCUA.