Reassigned Numbers Database Goes Operational on Nov. 1

The Federal Communications Commission (FCC) Reassigned Numbers Database (RND) is expected to be operational for paid subscribers on Nov. 1.

The RND is designed to prevent a consumer from getting unwanted calls intended for someone who previously held their phone number. Credit unions can use the database to determine whether a telephone number may have been reassigned so they can avoid calling consumers who do not want to receive the calls. If the RND wrongly indicates that the number has not been reassigned, the caller may be protected against TCPA liability when placing the call.

The RND will offer six subscription tiers: Extra Small, Small, Medium, Large, Extra Large, and Jumbo. Those wishing to use the RND may sign up for a one-month subscription, a three-month subscription, or a six-month subscription. The RND Administrator expects to offer an annual subscription option in the future, as well.

More information is available at www.fcc.gov/reassigned-numbers-database
Access the Reassigned Numbers Database here: www.reassigned.us
FAQs are available here: www.reassigned.us/resources/faq

Question of the Week

Q. Are Social Security retirement funds subject to garnishment?

A. Social Security income is not subject to garnishment. Generally, the federal Social Security Act makes Social Security benefits exempt from execution, levy, attachment, garnishment, or other legal process, or the operation of any bankruptcy or insolvency law. Notable exceptions to this general rule include: (1) the IRS’ ability to issue tax levies, and (2) garnishments and/or legal processes brought by an individual to enforce a child support or alimony obligation.

Retirement income other than Social Security income can be subject to garnishment as long as it represents a matured debt (state law provides special procedures if the indebtedness is not matured and not due and payable) because state law makes all earnings subject to garnishment in some cases. Credit unions will want to look at the state law that applies to the garnishment scenario to determine which funds might be exempt at the state level.

The US Treasury rules regarding the garnishment of funds from an account that is receiving Federal benefit payments protect these funds. Credit unions must perform a 60-day look-back and make available to the member the lesser of the amount of electronic Social Security deposits or the balance of the account.

Compliance Alerts

Consumer Financial Protection Bureau

Deadline to Request Initial Forbearance for HUD/FHA, USDA, or VA Backed Loans is Extended Until National Emergency Ends: The CFPB reminded borrowers that the deadline to apply for forbearance on certain federally backed mortgages has been extended until the National Emergency Ends.

Office of Foreign Assets Control

OFAC has updated the SDN list as of Oct. 8. The last update prior to this was Sept. 29.

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

Posted in Compliance, Compliance News, Compliance Question.