Idaho Credit Unions Deliver $71.5 Million in Direct Benefits to Consumer Members

Do you want 2017 to be the year when you finally take control of your finances? Join a credit union, and discover the benefits that 748,000 Idahoans are enjoying.

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U.S. District Court Blocks DOL’s Overtime Rule Nationwide

The preliminary injunction blocks the implementation of the Department of Labor’s (DOL) new overtime rules which would have gone into effect on December 1.

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Foundation Calls for Proposals to Conduct “Consumer Financial Health Check-ups” by CUs

The Foundation is looking for credit unions to submit proposals leveraging the Center for Financial Services Innovation’s (CFSI) consumer financial health assessment tool.

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WA DFI Announces Important Procedural Change

The change will affect credit unions’ OSOS public web searches, or copies of OSOS filed documents.

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CFPB Releases Bulletin and Policy Guidance on Service Providers

Also: Do registered MLOs have to renew their registration this year?

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Congressional Subcommittee Reviews TCPA

Subcommittee Chair Rep. Greg Walden called the TCPA a “a prime example of an outdated law that lags behind modern communications technology and consumer preferences.”

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DCU Going to Electronic Consumer Complaint Communication

Starting in October, the Washington Dept. of Financial Institutions, Division of Credit Unions, will notify the credit union of the filed complaint through encrypted email with a read receipt upon delivery.

CFPB Considers a Proposal to Overhaul Debt Collection Market

Also, a collection of legal news from the federal regulatory arena, and this week’s compliance question, answered.

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Security: It’s Everyone’s Problem

When we talk about member service, we most often are discussing innovative ways to help our members’ success through services, products, and financial education. However, there are other ways that credit unions deliver excellent member service that aren’t something we normally discuss. One of those ways is member data security.

Military Lending: Basic Training

Strategic Link partner CUNA Mutual Group details the final rule from the DoD on the Military Lending Act.

Compliance Center: CFPB Releases Winter Supervisory Highlights

Findings from recent CFPB examinations; your question answered on verifying names on direct deposit IRS refunds; plus this week’s legal briefs.

Compliance Center: NCUA Issues Guidance on Military Lending Act Changes

How to keep your credit union compliant with recent Department of Defense updates; your question answered about the act’s effect on auto refinancing coverage; plus this week’s legal briefs.

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Congress to Cordray: Dodd-Frank Not Intended for Credit Unions, Community Banks

The majority of Congress—including a large delegation of Northwest members— agrees that the CFPB’s approach may unintentionally burden credit unions and community banks. More than 240 Members of Congress have written Director Richard Cordray to tell him so.

Compliance Center: CFPB Issues Bulletin on Reporting Negative Account Histories

The CFPB warns financial institutions about misreporting account information to credit reporting companies; your question answered about FCRA requirements for credit reporting; plus this week’s legal briefs.

Compliance Center: What You Need to Know About Washington DFI’s 2016 Examination Focus

Learn how you can better prepare for this year’s examinations; your question answered about contracts for third party services; plus this week’s legal briefs.

Rising Consumer Confidence Raises Spending, Auto Lending

Make sure your credit union capitalizes on boost in consumer spending. Harland Clarke offers the keys to loan marketing success.

Consumer Reports Praises Credit Unions for Excellent Service, Low Fees

93% of credit union members reported being “Highly Satisfied,” compared with 69% of customers from the four largest national banks.

Compliance Center: Regulators Release Updates to Unified Agendas

Get details on the updated Unified Agendas of the CFPB, NCUA, and other federal regulatory agencies; your question answered about Reg E claims where no error occurred; plus this week’s legal briefs.