Federal Reserve Board Releases SCALE CECL Tool

Credit unions can view a recording of the recent “Ask the Fed” webinar discussing the SCALE method.

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FinCEN Issues First National AML/CFT Priorities

The priorities address corruption, cybercrime, foreign and domestic terrorist financing, fraud, and more.

Regulatory Pressure Builds Around Climate Change Risk

A recent alert from the Washington State DFI urges financial institutions to address the risks and opportunities climate change brings.

Idaho Department of Finance Shares Checklist to Aid in Preparation of FOM Expansion

The resource, meant for informational purposes only, is available on the department’s website.

FRB Extends Comment Period on Proposed Regulation II Changes

The new due date is Aug. 11.

Regulators Release Updated Rulemaking Agendas

Pending CFPB, NCUA, and FinCEN rules may have implications for credit unions.

NCUA Seeks Comments on Share Insurance Fund’s Normal Operating Level

Credit unions are also encouraged to note any other relevant information they believe the NCUA Board should consider.

White House Urges Businesses to Protect Against the Threat of Ransomware

Credit unions can take six steps now to drive down their risk of being victimized.

Scammers Posing as Credit Union Employees Are Using Spoofed Caller-ID Numbers

Credit unions may wish to issue scam alerts to help their members recognize fraudulent calls and avoid being victimized.

NCUA Provides Guidance on LIBOR Transition Plans

The recent supervisory letter outlines potential LIBOR exposure areas that examiners should review for material risk.

FRB Clarifies Regulation II Regarding Card-Not-Present Debit Transactions

The changes relate to the growth in online commerce, which has increased the volume of these types of transactions.

Washington Insurance Commissioner Emergency Rule May Cause Disruptions

Credit unions may experience home and vehicle loan processing delays due to members’ difficulties obtaining insurance coverage.

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Guidance for Credit Unions Serving Hemp-Related Businesses

It’s critical that credit unions that choose to serve hemp-related businesses in their field of membership understand the complexities and risks involved.

New and Improved CU PolicyPro System Launches

All system conversions are expected to be complete by Friday, April 30.

A Look at Medicaid Estate Recovery Programs

Credit unions should be aware that each state may take a different approach when attempting to make a recovery.

CFPB Highlights Need for Member Complaint Management Strategy

Credit unions are encouraged to create an effective resolution process to reduce member complaints submitted to the Consumer Financial Protection Bureau.

Oregonians Can Renew Driver Licenses Online Starting in Early May

The DMV’s new online feature will help reduce the demand for appointment slots, which remain high due to COVID-19.

Virginia Passes Consumer Data Protection Act

Going into effect Jan. 1, 2023, the VCDPA is similar to the California Consumer Privacy Act and European Union’s General Data Protection Regulation, but with key differences.