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Compliance

FinCEN Calls Attention to Online Child Sexual Exploitation Crimes

The bureau provided financial institutions with specific suspicious activity report (SAR) filing instructions and highlighted related financial trends.

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Idaho DMV Updated Imported Vehicle Titling Policy

Learn more about the AAMVA recommendations that will go into effect on Oct. 1.

CFPB Proposes Business Loan Data Collection Rule

Under the proposal, lenders would be required to report extended demographic information and other details about small business credit applicants.

Compliance

Fannie Mae and Freddie Mac Update Uniform Legal Instruments

Use of the new instruments will be required for loans with note dates on or after Jan. 1, 2023.

Compliance

NCUA Announces New Streamlined CDFI Applications Open Sept. 12

Low-income-designated credit unions must register in the NCUA’s CyberGrants system and complete an online participation form.

Compliance

FFIEC Issues Guidance on Authentication & Access to Financial Institutions Services and Systems

The Aug. 11 document replaces previous guidance from 2005 and 2011.

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NCUA Proposes Complex Credit Union Leverage Ratio

Under the rule, a complex credit union that maintains a minimum net worth ratio and meets other criteria is eligible for the CCULR.

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CFPB Issues Interpretive Rule on Juneteenth 2021

The rule explains timing requirements in light of recent legislation designating Juneteenth as a federal legal public holiday.

U.S. Treasury Inquires About Missing EIP Payments

A credit union’s response to an inquiry will depend on specific information related to the economic impact payment received.

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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.

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.

New and Improved CU PolicyPro System Launches

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