Compliance Question of the Week

Can we cash a Savings Bond using a Power of Attorney? A member is presenting us with bonds payable to her mother, who had not endorsed them. Can we negotiate the bonds since the daughter has power-of-attorney?

Eurozone Crisis Has U.S. Consumers Seeking Financial Safety

More than a direct effect on the operations of financial institutions or the U.S. economy, the Eurozone situation is beginning to create concern among consumers for the safety of their money and the stability of the economy.

NCUA Guidance Helps with Savings Bond Changes

The NCUA has issued a letter to credit unions to provide guidance in answering members’ questions related to the upcoming changes to the U.S. Savings Bond program.

Treasury Department Offers Toolkit for New Savings Bond Procedures

As the U.S. Department of the Treasury takes steps to end the sale of paper savings bonds, it offers a toolkit to help financial institutions navigate the transition to an electronic system.

Compliance Question of the Week

Is a credit union considered a federal contractor for affirmative action purposes when it is authorized to issue savings bonds? And since we will no longer issue savings bonds starting on Jan. 1, 2012, do we still need to have an affirmative action plan?

Legal Briefs

Your update on the regulatory landscape.