Compliance News
FFIEC Releases Updates to the BSA/AML Exam Manual
The updates offer further transparency into the examination process and support risk-focused examination work.
Category: Compliance News
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Compliance News
NCUA Issues Final Rule on Joint-Ownership Share Accounts
The rule amends the NCUA’s regulation governing the requirements for a share account to be separately insured as a joint account.
Compliance News
Providing Financial Products and Services to Consumers with Limited English Proficiency
The CFPB’s recent statement provides guidelines to assist financial institutions in complying with regulatory requirements regarding LEP consumers.
Compliance News
DCU Releases 2021 Exam Focus and Strategic Initiatives
This year’s exam focus includes allowance for loan and lease losses, changes in asset quality, potential interest rate risk changes, liquidity, and more.
Compliance News
NCUA Board Approves Final Rule to Codify Interagency Statement
The rule confirms agencies will follow and respect the limits of administrative law in carrying out their supervisory responsibilities.
Compliance News
NCUA and CFPB Issue Proposed and Final Rules
Changes include updates to HMPL escrow exemption thresholds, field of membership definitions, and more.
Compliance News
NCUA Releases its 2021 Supervisory Priorities
This year’s priorities include allowances for loan and lease losses, BSA and CARES Act compliance, consumer financial protection, and more.
Compliance News
Second Wave of Economic Impact Payments Include Prepaid Debit Cards
VISA notes that some cards will bear the names of two cardholders on the front if the payment is being made to joint tax-filers.
Compliance News
FinCEN Releases Notice on COVID-19 Vaccine-Related Scams
Vaccine fraud may include the sale of unapproved and illegally marketed vaccines, the sale of counterfeit versions of approved vaccines, and illegal diversion of legitimate vaccines.
Compliance News
ID and OR Transportation Department and DMV Updates for 2021
Credit unions should be aware of new changes to odometer exemptions, license and vehicle tag grace periods, and more.
Compliance News
Reminder on Idaho Transportation Department’s New Vehicle System
Lenders can find the updated TOD and title application form templates online.
Compliance News
Freddie Mac Issues Guidance for Managing Escrow During COVID-19 Related Hardship
Credit unions are wondering how to deal with escrow accounts that are in either CARES Act forbearance or forbearance under the provisions of Oregon’s H. 4204.
Compliance News
NCU-ISAO Announces Credit Union Cyber Operations Industry Survey
The survey aims to collect valuable insights from industry respondents regarding cybersecurity structure, reporting, fraud, and more.
Compliance News
FEMA Releases Information on Flood Risks After a Wildfire
The agency strongly encourages Oregonians who live in and around areas impacted by the recent wildfires to purchase flood insurance now.
Compliance News
Free Cybersecurity Resources Available from the Cybersecurity & Infrastructure Security Agency
Resources from CISA are available to credit unions of all sizes to assess and improve their cybersecurity posture.
Compliance News
NCUA Board Approves Proposed Rule to Codify 2018 Interagency Statement
The rule is intended to confirm that agencies will continue to follow and respect the limits of administrative law in carrying out their supervisory responsibilities.
Compliance News
FinCEN Issues Supplemental Advisory on Identifying and Reporting Human Trafficking
When filing a Suspicious Activity Report for suspected human trafficking, credit unions should provide all pertinent available information in the SAR narrative.
Compliance News
Washington DCU Bulletin Provides Guidance on Additional Investment Authorities
The investment authorities were granted to Washington State-chartered credit unions under House Bill 1247 during the 2019 legislative session.