Compliance Question of the Week

Can a business have a beneficiary?

Compliance Question of the Week

What is an FBO account?

Compliance Question of the Week

What is a representative payee?

Picture of sticky notes with question marks on them

Compliance Question of the Week

What is a Social Security Representative Payee Account, which members require one and how should the accounts be established?

Oregon Senate Committee Holds Hearing on Foreclosure Mediation Bill

The NWCUA is advocating for changes to a bill that would make technical updates to Oregon’s Foreclosure Avoidance Mediation Program. The legislation was heard yesterday by the State Senate’s General Government, Consumer and Small Business Protection Committee.

Compliance Question of the Week

Regarding death of member account. We have the executor of the estate of our deceased member in to close the account. However, this account has a beneficiary, so the funds in this particular account go to the beneficiary; but can we give that information to the executor?

Compliance Question of the Week

The beneficiary on a Representative Payee account has requested a loan. What do we do? Can the beneficiary use the SSI payments this way?

Compliance Question of the Week

If a member inherits funds from his mother’s traditional IRA, can the member “roll over” the inherited funds from the mother’s account into a new IRA account?

Compliance Question of the Week

We received a Notice of Reclamation from the Social Security Administration… but the member is still alive. In fact, he’s standing right in front of me. What should I do?

Washington Legislative Week in Review

This Washington Legislative Week in Review updates the progress of the Public Funds Bill and details the bills that died after missing last week’s House of Origin Cutoff.

Washington Legislative Week in Review: Public Funds Bill Passes Senate

SB 5913, known as the Public Funds Bill, passed the Senate last Thursday by vote of 43-2. With less than a month remaining in the current session, several other bills relevant to the credit union movement are expected to see action soon.

Oregon Legislative Week in Review

This Oregon Legislative Update outlines the eight mortgage/foreclosure bills currently of interest to credit unions during the Oregon Legislature’s first-ever “short session.”

Compliance Question of the Week – January 17th 2012

What is a VA fiduciary account, and how would I title one?

Compliance Question of the Week

How should I title an inherited IRA?

Inherited IRA is Insured, but Tax Issues Can be Complicated, says NCUA

According to the June 6 letter, the NCUA’s regulations provide share insurance coverage for a member’s IRAs up to $250,000 that is separate from the member’s other accounts at the same credit union.

Oregon Legislative Week in Review

As legislative leaders anticipate ending the session on time, a bevy of bills that affect credit unions circulate including one concerning selling loans on the secondary market.

Compliance Question of the Week

Should representative payees be allowed to negotiate checks made out to the beneficiary of the accounts they oversee?

Compliance Question of the Week

How long does a stop payment order remain in effect?