DCU Issues Bulletin Regarding Focus on Liquidity and Interpretive Letter on Verification of Members’ Accounts

Credit unions over $50 million in assets must have a written contingency funding plan for addressing liquidity shortfalls in emergency situations.

NCUA Releases Examination Guidance for Customer Due Diligence on FinCEN’s Beneficial Ownership Rule

The recently released letter highlights the examination expectations of NCUA examiners as well as considerations for credit unions to protect themselves against FinCEN penalties.

Steps Credit Unions Need to Take to Protect Themselves from Cyber Vulnerabilities

Credit unions should check with their IT departments to ensure they have protocols in place should a data breach occur.

Counterfeit Cashier’s Checks are on the Rise in the Northwest

NWCUA experts advise credit unions on what to look for and how to respond.

NCUA Releases FAQ About the Impact of S. 2155 on Credit Unions

Changes include areas of member business lending, appraisals, and the Home Mortgage Disclosure Act.

What Credit Unions Need to Know About Fraudulent Wire Transfers

Wire schemes are on the rise and credit unions need to take steps to stop them.

Credit Unions in Oregon Seeing Short-form Death Certificates

Your Association helps clarify how a short-form death certificate is used.

Tap Into the Compliance Resource Center for Expert Advice and Valuable Solutions

Information on cybersecurity, a compliance library, regulatory implementation tool kit, and much more available to you.

WA DOR Assessing Fines for not Remitting Funds for Unclaimed Accounts Electronically

The DOR’s amendment affects the unclaimed property reports that are filed with the state by credit unions.

California’s Mini-GDPR and Implications for Northwest Credit Unions

California Consumer Privacy Act of 2018 changes privacy requirements within California, giving residents more control over information that is collected on them.

Regulator Statements about Recent Changes to HMDA

The CFPB expects to provide guidance later this summer.

SBA Guidance on Businesses that are Involved with Cannabis

Businesses that derive revenue from marijuana-related activities or that support the end-use of marijuana may be ineligible for SBA financial assistance.

June 2018 NCUA Board Actions

The National Credit Union Administration (NCUA) Board unanimously approves two new items at its latest meeting.

Washington State Equal Pay Opportunity Act goes into Effect

Washington state’s Equal Pay Opportunity Act requires employers to provide equal pay and career advancement opportunities to their employees, regardless of gender.