The letter reviews the steps credit unions should be taking in order to be ready for the Same-Day ACH payments that will become effective this Friday, September 23rd.
The monthly complaint snapshot highlights consumer complaints about bank accounts and services. Also, legal briefs and compliance questions answered.
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.
NCUA, along with four other agencies, released the guidance to address discrepancies that may occur with amounts deposited by a member or customer and the dollar amount credited to that account.
As the Washington State Legislature rolls into its third week, credit unions’ policy advancement strategy is firmly focused on legislation concerning public fund deposits and payroll cards.
NCUA provides updated guidance on enhanced share insurance coverage for IOLTA and other similar escrow accounts; your question answered about safe deposit boxes and BSA compliance, plus this week’s legal briefs.
A Massachusetts court ruling may make you want to revisit your agreement language; your question answered about TILA/RESPA timing requirements; plus this week’s legal briefs.
Would your members appreciate an ATM where they could make deposits? Portland-based Peregrin Financial Technologies has an NCR deposit taking ATM available July 27, and they are currently accepting offers.
The bill extends share insurance coverage to credit union trust accounts.
The CFPB issued clarification on the Regulation Z ability-to-repay requirements and successor-in-interest situations. Also today: Legal Briefs, and the Question of the Week.
CUNA Mutual recently sent a Risk Alert to its bond holders that discussed the potential increased risk that credit unions offering Remote Deposit Capture may face with the Regulation CC Proposed Amendment.
Credit union members expect the same convenience and reach that the largest banks offer, with anytime access through a variety of channels. With CO-OP Financial Services, credit unions can offer the latest technology to level the playing field.
The Federal Reserve Board has announced the annual indexing of the amounts used in determining reserve requirements of depository institutions and deposit-reporting panels effective in 2014.
When is a certificate of deposit presumed abandoned?
What happens if the person who is renting a safe deposit box dies?
How credit unions promote their certificate accounts may depend on their charters. The rules are addressed in this week’s Compliance Question of the Week.
Your weekly update on the regulatory landscape.
Rumors that Department of Homeland Security agents are allowed access to safe deposit boxes without first presenting a warrant or a subpoena authorizing entrance have resurfaced online, but according to the NWCUA’s David Curtis, DHS “has issued no such memo, and we don’t expect that we will see anything even remotely similar to this in the future.”