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Compliance Center: NCUA Outlines Plans for Adding ‘S’ to Credit Union CAMEL Ratings

The addition would represent ‘sensitivity to market risk,’ and will require changes to NCUA systems.

Compliance Center: Supreme Court Rules Disparate Impact Claims Allowed Under Fair Housing Act

Learn more about the Supreme Court’s decision; your question answered on refunding garnishments; plus this week’s legal briefs.

Compliance Question of the Week

What do we do if a member says he is filing bankruptcy and we just received a garnishment?

Compliance Question of the Week

How do we handle a garnishment for someone with multiple types of accounts? Our Compliance Question of the Week works through the complexities.

The Treasury Issued Amendments to the Garnishment of Federal Benefit Payments Rule

New amendments to the Garnishments of Federal Benefits Payments Rule take effect June 28. This week’s compliance report explains new definitions and credit union responsibilities.

Compliance Question of the Week

We received a garnishment for a member who receives “protected benefits,” but the benefits come in the form of a check. The member is telling us that we have to give him his money back. What do we do?

Washington State Updates Format for Writs of Garnishment

New legislation addressing garnishments in Washington took effect June 7. The only change that affects credit unions is related to the contents of the garnishment writ.

A Review of Compliance Changes to Human Resources

This review of compliance changes effecting human resources outlines changes on the national front, including the new VOW to Hire Heroes Act of 2011, as well as modifications to Oregon’s garnishment rules and handling of jury duty.

NCUA Addresses Garnishment of Accounts with Federal Benefits

The NCUA has offered guidance to help credit unions comply with a joint interim final rule that addresses garnishment of accounts that include federal benefits payments.

Compliance Question of the Week

Is a garnishment order written by an attorney subject to the new rules regarding protecting Federal Benefits Payments from garnishment?

Treasury Says New Garnishment Rule Applies Only To Court Orders

CUs must review accounts for Federal Benefit Funds only upon receipt of a garnishment order, but there is some confusion in the rule’s definitions.

Treasury Releases Interim Final Rule Changing Garnishment Procedures

Late last week the Treasury released its interim final rule that will make radical changes to your credit union’s garnishment proceedings. This rule applies unless the garnishor is the Federal government or a State child protection agency.