picture of the Idaho State Capitol building

WA DCU Issues Bulletin on Powers of Attorney in Vehicle Loan Transactions

The bulletin alerts credit unions that the Washington Department of Licensing (DOL) will not accept powers of attorney executed by a credit union employee on behalf of a member.

picture of a loan application

Fannie Mae and Freddie Mac Publish Redesigned Uniform Residential Loan Application Form and Dataset

The standardized form is used by borrowers to apply for a mortgage loan. Also, your compliance question answered and legal briefs from the federal landscape.

Overdraft Protection Disclosures – Verify ‘Opt-In’ Compliance Now

Be in compliance with Regulation E. Your Strategic Link Partners, Foster Pepper PLLC provide insight.

Compliance Center: NCUA Releases Exam Priorities for 2016

The National Credit Union Administration recently released a letter highlighting their supervisory priorities for 2016; plus your question on IRS forms answered, and this week’s legal briefs.

Donate: Make the Roaring 20s Auction a Lively and Life-Saving Night

This year’s Credit Unions for Kids Gala and Auction is bringing the era of Gatsby, flappers, and jazz back to life, and your donations will make it life-saving.

2014 Credit Unions for Kids Funds Due January 16

Credit unions must submit their checks using a simple form by January 16 for funds to count towards 2014 fundraising totals.

Heroes of Hope Credit Unions for Kids Auction: Call for Donations – Deadline Extended!

The NWCUA’s dinner and auction benefitting Credit Unions for Kids is less than a month away. Deadline for auction donations extended to September 26 to raise record amounts of money for the kids.

IRS Releases Revised ‘Certificate of Foreign Status’ Form for Individuals

The IRS has a issued a new form that individuals who are not U.S. citizens or resident aliens can use to claim an exception from information reporting and backup withholding for certain types of income, including financial-institution deposit interest. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “What should be done if the direct deposit of an IRS refund went into an account that doesn’t belong to the intended recipient?”

Deadline Approaches for Submitting 2013 Credit Unions for Kids Fundraising Proceeds

Proceeds from all Credit Unions for Kids events must be submitted to Children’s Miracle Network Hospitals by Friday, Jan. 24, in order to count toward 2013 fundraising goals.

CFPB Releases Final TILA-RESPA Combined Disclosure Rule

The Consumer Financial Protection Bureau has released its long-awaited final rule for Integrated Mortgage Disclosures under RESPA and TILA.

IRS Updates W-9; Credit Unions May Need to Modify Applications

The Internal Revenue Service has released an updated version of Form W-9 and instructions.

Small Business Health Care Tax Credit filing deadline is May 15

Small credit unions should take advantage of the Small Business Health Care Tax Credit by May 15th. It can provide an unexpected windfall worth thousands of dollars.

Submit Funds to Credit Unions For Kids, Raise More Through Holiday Icon Campaign

The deadline for submitting funds raised for Credit Unions for Kids during the 2012 campaign year is Jan. 4, 2013, but credit unions still have time to pad their fundraising totals by joining the 17 Northwest credit unions already taking part in the Holiday Icon Campaign.

Small Credit Unions May be Leaving Money on the IRS Table

Since the Affordable Care Act took effect in 2010, many small employers have been eligible for a health care tax credit created as part of the bill. One of the few Northwest credit unions to take advantage of the program received a check from the IRS for almost $7,000 for the 2011 tax year.

Standard Flood Hazard Determination Form Revised

The Standard Flood Hazard Determination Form has been revised. The agency will be allowing users a three-year transition period ending May 30, 2015, so user systems can be changed before final adoption of the form is required.

Model Forms for Mortgage Statements

Financial institutions will likely need to update mortgage loan statement forms to comply with Dodd-Frank changes to the Truth in Lending Act. The CFPB has issued a prototype form statement to serve as a starting point and is now accepting feedback.

IRS Releases the Dirty Dozen Tax Scams for 2012

The IRS has issued its annual “Dirty Dozen” ranking of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud.

NWCUA Regulatory Advocacy Update

The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement, with updates here on cancelled NCUA board meetings along with opportunities for comment and advocacy.