Idaho and Oregon 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.

Reminder on Idaho Transportation Department’s New Vehicle System

Lenders can find the updated TOD and title application form templates online.

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.

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.

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.

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.

GAP Waiver Litigation: Protecting Your Credit Union

Farleigh Wada Witt shares insight on refunding unearned GAP Waiver fees.

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.

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.

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.

FinCEN Issues Advisory on Ransomware and the Use of Financial Systems to Facilitate Ransom Payments

The severity and sophistication of ransomware attacks continue to rise across various sectors, including governmental entities and financial institutions.

Washington State Announces 2021 Minimum Wage and Salary Thresholds for Overtime Exempt Employees

The new minimum wage will impact some employees exempt from overtime and other protections of the Minimum Wage Act.

Idaho Transportation Department to Deploy New Title and Registration System

Financial institutions are advised to conduct a vehicle history search that will provide NMVTIS information prior to providing a loan.

CFPB Releases Outline of Proposals Under Consideration to Implement Small-Business Lending Data Collection Requirements

The outline provides insight into the data points that may be collected, including mandatory data points from Section 1071.