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Two Upcoming Labor Rule Compliance Dates That CUs Should Keep in Mind

Also, the latest legal briefs from the federal level and your compliance question of the week, answered.

Compliance Center: NCUA Issues Opinion Letter on Loan Participations in Indirect Loans

NCUA letter focuses on federally insured credit unions as originating lenders in indirect lending arrangements; your question answered about Social Security payee accounts; plus this week’s legal briefs.

Compliance Question of the Week

What is a representative payee?

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Compliance Question of the Week

What is a Social Security Representative Payee Account, which members require one and how should the accounts be established?

Compliance Question of the Week

The beneficiary on a Representative Payee account has requested a loan. What do we do? Can the beneficiary use the SSI payments this way?

Compliance Question of the Week

Can a credit union allow a mother acting as representative payee for her son’s SSI checks to deposit them into a UTMA account, if she is not the custodian on the account?

Compliance Question of the Week

Should representative payees be allowed to negotiate checks made out to the beneficiary of the accounts they oversee?

Compliance Question of the Week

How long does a stop payment order remain in effect?