NCUA Announces Annual Regulation Review Focus

The NCUA reviews all of its rules every three years, scheduling a look at about one-third of its rules each year on a rotating basis. Included on this year’s list is a review of CUSOs, fair credit reporting and member business loans, among others.

Washington Legislative Week in Review: Committees, Hearings and Credit Union Day at the Capitol

The Washington State Legislature is in full swing, and as committees begin holding hearings, a number of bills are in the works with a potential impact on credit unions.

Strategic Link Question of the Week

An individual used a shared-branch kiosk located at a convenience store and accessed a member’s account without authorization. Numerous unauthorized withdrawals were made on the member’s account. Does our insurance cover that?

Mortgage Insurance Premium Deduction Extended Through 2013

Due to the American Taxpayer Relief Act of 2012, the mortgage insurance premium deduction has been reinstated, meaning members may deduct premiums for mortgage insurance from their taxes for the tax years 2012 and 2013.

The Credit Union Connection to Long-Term Care Insurance

According to CUNA Mutual Group’s Jane Chesbro, by associating your trusted credit union brand with a reliable long-term care insurance provider, you help members navigate confusing protection options while creating another potential bond that strengthens ties to your credit union.

How to Make Sure You’re Getting Good Advice in a Third-Party Bond or Insurance Review

If your credit union engages a third party to help review your fidelity bond and other insurance protections, CUNA Mutual Group explains why you should find out whether the third party is an independent consultant for a fee or a broker working on commissions from carriers.

TruStage: A New Brand, a New Resource Exclusively for Credit Unions

CUNA Mutual Group, a Strategic Link strategic partner, has launched TruStage, a series of insurance products and programs exclusively for credit union members.

Legal Briefs

Your weekly update on the regulatory landscape.

NCUA Forecasts Little to No Increase in Premiums and Assessments for 2013

The NCUA estimates that the 2013 NCUSIF premium will be between 0-5 basis points, and the stabilization fund assessment will remain between 8-11 basis points, showing “the improving strength of the credit union system.”

Reminder: Unlimited Share Insurance Set to Expire Dec. 31

Temporary unlimited share insurance coverage for noninterest-bearing transaction accounts was one of the provisions that came out of the Dodd-Frank Act, and unless Congress passes legislation to amend the current rules, it will no longer be available beginning Jan. 1, 2013.

NWCUA Regulatory Advocacy Update: Advisory Opinion on BOLI Expected from Washington DFI

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 is an update on Washington DFI’s stance on bank-owned life insurance.

Compliance Question of the Week

Can a credit union set up annuity accounts?

NWCUA Regulatory Advocacy Update: Oregon Insurance Division Proposes Producer License Applications Rule

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 is an update on a proposed rule that would change the licensing process to transact credit insurance.

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.

CFPB Issues Proposed Mortgage Servicing Rules

The CFPB issued two notices of proposed rulemaking designed to protect homeowners from surprises and mistakes made by mortgage servicers. The two notices contain nine specific provisions regarding mortgage lending.

Compliance Question of the Week

Does a CTR need to be filed when you know a member is placing more than $10,000 in a safe deposit box?

CUNA’s Magill Tells Reuters that TAG, MBL Bills May Move in Combination

An article in Reuters yesterday about the banks’ push to extend TAG coverage quoted CUNA’s John Magill, who said senators have indicated that “marrying TAG, which the banks really want, with the MBL bill, which we are lobbying for, would work.”

Top Credit Union Regulator Announces New Office of National Examinations and Supervision

Small, well-run credit unions will see less of Federal examiners starting in 2013 as the NCUA reallocates resources to focus on the largest credit unions.