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.

Oregon DCBS Announces Merging of Insurance, Finance Divisions

The Oregon Department of Consumer and Business Services formally announced the merging of the Insurance Division and Division of Finance and Corporate Securities. Oregon credit union leaders expected the announcement and began offering input during late 2015.

Compliance Center: Washington State DCU Releases 2015 Examination Priorities

DCU’s six 2015 exam priorities; question about ChexSystems report requests answered; and legal briefs.

NCUA Releases 2015 Exam Priorities

Priorities are similar to last year, including cyber security, interest rate risk, and money servicing businesses.

NCUA Instructs Examiners to Follow FinCEN Marijuana Guidance

The NCUA is instructing examiners to follow FinCEN guidance related to banking legal marijuana businesses. It’s a move expected to offer some reassurance to credit unions.

NCUA Releases Supervisory Letter on Private Student Loans

The National Credit Union Administration recently released Supervisory Letter 13-13, which provides guidance to the NCUA field staff on examining Private Student Loans (PSLs) and analyzing the associated risks.

NCUA Updates Exam Guidance on Loan Workouts, Nonaccrual, TDR Reporting

In a letter issued last week, the NCUA shared with credit unions the same TDR guidance it shared with its examiners, describing in detail how examiners will apply the regulatory improvements approved last year by the NCUA board of directors.

Compliance Question of the Week

Is it necessary to record the name of the person making a motion in a board meeting?

NCUA Leadership to Region V Credit Unions: Expect Exam Modifications

Credit union league and association leaders met with representatives from NCUA Region V this week to discuss mutual concerns and work to modify the examination process for all credit unions.

NCUA Hosts CFPB Director for Town Hall Meeting

NCUA Chairman Debbie Matz hosted a town hall with CFPB Director Richard Cordray Tuesday, addressing topics such as upcoming proposals, finalized rules and examinations.

NCUA Exam Focus for 2013 Emphasizes Risk Management

The NCUA outlined its primary areas of focus for examiners in the January edition of the NCUA Report, and the agency also plans to provide more information and better guidance to credit unions to clearly set exam expectations.

Regulator Meets Regulated at NCUA Listening Session in Denver

NWCUA representatives were on-hand along with credit union representatives from throughout the western states for the final NCUA Listening Session, led by NCUA Chairman Debbie Matz in Denver on Tuesday.

Washington DFI Promotes Lacy-Roberts to Credit Union Program Manager

Doug Lacy-Roberts, long-time Washington State Division of Credit Unions examiner, has been promoted to the Department of Financial Institution’s Credit Union program manager, overseeing the examination and supervision of state credit unions.

NWCUA Regulatory Advocacy Update: Association Meets with NCUA Region V Leadership

The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement. Included here are updates on a meeting with regional NCUA leaders and extended CFPB comment periods.

NCUA Provides Insight into Supervisory Focus for 2012

After assessing the downfalls of several failed credit unions, NCUA risk examiners will focus on three main types of risk in 2012: credit risks, interest rate and liquidity risks, and concentration risks.

Regulatory Discussion Dominates NWCUA Governmental Affairs Forum

A candid conversation with state regulators highlighted the NWCUA’s Governmental Affairs Forum. NWCUA staff and state regulators shared information and answered questions as credit union professionals voiced concerns on a number of key issues.

NWCUA Regulatory Advocacy Update

The NWCUA’s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here are details on new NCUA offices and Bank Transfer Day’s regulatory impact.

CFPB Releases Supervision, Examination Guidance

The Consumer Financial Protection Bureau recently released a manual to aid the agency’s examiners as they oversee financial services firms.