CFPB Issues Supervisory Highlights Volume 19

Question of the Week: What should a credit union do when an account owner passes away and a minor is named as beneficiary?

CFPB Issues Policies to Promote Innovation and Facilitate Compliance

Question of the Week: Evaluating third-party vendors.

InfoSight’s new Website now Live

The revamped site is easier to navigate with an interactive dashboard and more state-specific content.

FFIEC Encourages Standardized Approach to Assessing Cybersecurity Preparedness

A standardized approach improves progress tracking and information sharing.

NCUA Issues Final Rule Changes to Fidelity Bond Coverage

New changes go into effect next month and expand credit union board of director oversight of fidelity bond coverage.

NCUA Issues Guidance on Serving Hemp Businesses

Credit unions serving hemp-related businesses should review Regulatory Alert for guidance.

Federal Charter Work Group Needs Your Input

Submit your ideas by Aug. 30.

FHFA Redesigns and Reschedules URLA Mandatory Use

Delay allows industry participants to make necessary changes to the URLA and AUS data sets.

Examiners Dive Into Information Security Risk Assessments

Security of credit union member information remains a key supervisory priority for the NCUA.

Joint Statement on Risk-Focused BSA/AML Supervision Released

The statement outlines common practices for assessing a credit union’s risk profile.

FinCEN Issues Updated Advisory on Email Compromise Fraud Schemes

The guidance distinguishes between Business Email Compromise and Email Account Compromise.

IRS Reminder: Millions of Individual Taxpayer Identification Numbers (ITINs) to Expire in 2019

Ensure these members are submitting their renewal applications.

Credit Unions Running ATMs on Windows 7 Must Switch to Version 10

Microsoft’s Windows 7 support will cease on Jan. 14, 2020.