Credit Reporting for Members Affected by Natural or Declared Disasters

The CDIA’s COVID-19 resources webpage provides guidance for furnishers who report information about consumers.

Appraisal Foundation Offers Advice on In-Home Inspections During COVID-19

Appraisers are encouraged to communicate with their clients and follow public health recommendations.

Regulator Updated Guidance and Considerations for Second Wave Planning for Pandemics

Credit unions should work constructively with borrowers and members in affected communities

Department of Defense Issues Military Lending Act Clarification

Credit unions should review the updated guidance as it relates to MLA-covered loans.

Serving Members Who are Affected by a Pandemic

Credit unions may wish to review the CDC’s latest interim guidance for businesses and employers as well as other resources.

NCUA Approves Interagency Guidance on Current Expected Credit Losses

Credit unions should review the policy statement as it applies to financial assets.

FinCEN Issues Guidance on CTR Reporting for Sole Proprietorships

Credit unions should review the clarification on requirements regarding certain currency transaction reports.

NCUA Provides Guidance on Pandemic Planning in Wake of Coronavirus

Credit unions should revisit their business continuity plans to ensure preparedness.

CFPB Policy Statement on ‘Compliance Aids’

Credit unions can use these compliance resources to stay up to date on existing rules and statutes.

Washington DCU Releases Strategic Initiatives and Exam Focus for 2020

Expect more focus around on-site IT security exams and disaster recovery programs.

The SECURE Act Details Significant Changes to Tax-Advantaged Retirement Accounts

Credit unions may be affected by provisions that went into effect Dec. 19.

NCUA Releases 2020 Supervisory Priorities

New priorities help prepare credit unions for upcoming regulatory examinations.

IRS Issues Additional Insight on Taxpayer Consent Requirement from Taxpayer First Act

New language to Section 2202 outlines consent on redisclosure of taxpayer information.

Washington and Oregon Allow “X” Designation on IDs for Gender Identification

Credit unions should consider upgrading systems to include more options when entering members’ gender information.