Offer TRID Grace Period: NWCUA to CFPB

The Association sent a letter to the CFPB with three requests regarding upcoming TRID implementation, the most urgent of which is for a transitional implementation grace period through the end of the year.

New RBC Proposal: What Does it Say, and What’s Next?

Breaking News: The NCUA last week released a much anticipated revised risk-based capital proposal.

Expect New RBC Proposal January 15

NCUA Chair Debbie Matz plans to unveil a revised RBC proposal at the board’s January 15 open meeting.

Compliance Center: IRS Issues Proposal to Eliminate 36-Month Non-Payment Requirement From Form 1099-C

IRS proposes change to 1099-C; joint account question; and Legal Briefs.

NCUA to Propose Revised RBC Rule, Open Second Comment Period

NCUA Chairman Matz says that the new proposal will include a longer implementation period and revised risk-weights, and trigger a second comment period.

Matz Committed to “Warranted” RBC Changes

Responding to Rep. Holding, Matz says that changes are in development, second comment period dependent on changes.

NWCUA: We Will Continue to Advocate for a Better Rule

The NCUA will continue to hear an earful of objections to its proposed Risk-Based Capital rule. The NWCUA outlines a number of venues for more input this summer.

Final Regulations Released on Affordable Care Act’s 90-Day Waiting Period

Is your credit union in compliance with the Affordable Care Act’s final requirements for a 90-day waiting period, which were released Feb. 20? Brown & Brown of Washington, which manages The Trust, explains the regulations.

Compliance Question of the Week

When is a share certificate presumed abandoned?

NCUA Releases Supervisory Letter on Private Student Loans

The National Credit Union Administration recently released Supervisory Letter 13-13, which provides guidance to the NCUA field staff on examining Private Student Loans (PSLs) and analyzing the associated risks.

FRB Releases Regulation D 2014 Reserve Requirements

The Federal Reserve Board has announced the annual indexing of the amounts used in determining reserve requirements of depository institutions and deposit-reporting panels effective in 2014.

Compliance Question of the Week

When is a certificate of deposit presumed abandoned?

Spectrum Marketing Awards Program Issues Call-to-Entry

The region’s best credit union marketing will be showcased in the Spectrum Awards Program. New categories and an 18-month eligibility period highlight the call-to-entry announced this week by the NWCUA.

Reminder: NMLS Annual Renewal Period Ends Dec. 31

The SAFE Act requires residential mortgage loan originators who are employed by agency-regulated institutions to register with the Nationwide Mortgage Licensing System and Registry. The annual renewal period runs through the end of the year.

FinCEN E-Filing Transition Period: July 1-8, 2012

After a host of difficulties, the BSA E-Filing System is now functioning properly and has finished processing backlog data. Institutions with rejected filings should have received electronic notification and should re-file reports accordingly.

Compliance Question of the Week

Is there a quick reference I can use for advertising compliance?

Congress Returns to Regular Activity After Week-Long Work Period

With Congress returning from a week-long district work period, CUNA called on credit unions Monday to keep up the pressure and continue to urge Congress to support increased MBL authority for credit unions.

Reminder: NMLS Annual Renewal Period Ends Dec. 31

The SAFE Act requires residential mortgage loan originators who are employed by agency-regulated institutions to register with the Nationwide Mortgage Licensing System and Registry. The annual renewal period runs through the end of the year.