CFPB Issues Guidance on Reporting Financial Abuse of Older Adults

Credit unions may be the best advocates and watchdogs elder members have to protect them against fraud. Our compliance report details the signs of potential fraud staff should look for, and share CFPB guidance giving credit unions some latitude reporting potential abuse. This is a must-read for staff serving elder members.

New Marijuana Memo Changes Nothing for Credit Unions

The federal government has decided not to challenge state marijuana laws, but credit unions still will have to comply with reporting requirements when they open accounts for marijuana businesses.

Navigate the Social Media Minefield

Recent media reports about companies asking staff for their Facebook passwords highlight a larger challenge facing HR professionals: in the world of HR management, nothing changes faster than the social media landscape—and the laws and regulations surrounding it.

NCUA Explains Fair Lending Exam Program’s Latest Developments

The NCUA released Letter to Federal Credit Unions 13-FCU-02 Tuesday, which outlines a number of developments in the NCUA’s Fair Lending Examination Program, including new educational and compliance tools and the institution of off-site supervision contacts in certain instances.

FFIEC Releases Proposed Guidance on Social Media

The FFIEC is seeking comment on a proposed guidance applying consumer protection and compliance laws, regulations, and policies to activities conducted via social media by financial institutions and nonbank entities supervised by the CFPB and state regulators.

CFPB Solicits Financial Industry Insider Informants

According to Richard Cordray, individuals with information on potential violations of federal consumer financial laws will now have “a direct line of communication” with the CFPB.

Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities for Federal Consumer Financial Laws

The federal financial supervisory agencies issued a policy statement to explain the measure and schedule to determine an institution’s asset size for purposes of determining supervisory and enforcement responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

NWCUA’s 2011 HR Legal Update Offers HR Strategies for Credit Unions

The 2011 HR Legal Update gives HR professionals an opportunity to learn new strategies and share ideas in pursuit of a more productive workplace. Specifically tailored for credit unions, the workshop will take place in both Portland and Federal Way.

Inherited IRA is Insured, but Tax Issues Can be Complicated, says NCUA

According to the June 6 letter, the NCUA’s regulations provide share insurance coverage for a member’s IRAs up to $250,000 that is separate from the member’s other accounts at the same credit union.