Compliance Center: Oregon Department of Consumer and Business Services Issued Rulemaking for Reasonable Compensation

Get the details on the new rule for reasonable compensation of Directors and Supervisory Committee Members; plus your question answered about garnishment fees on Federal Benefit Payments; and this week’s legal briefs!

CFPB Interpretive Rule on Successors-in-Interest

The CFPB issued clarification on the Regulation Z ability-to-repay requirements and successor-in-interest situations. Also today: Legal Briefs, and the Question of the Week.

DFI Issues Final Rule for Reasonable Compensation of Directors and Supervisory Committee Members

The Washington state Department of Financial Institutions has released a bulletin that explains its final rule on reasonable compensation for directors and supervisory committee members. The rule takes effect on Feb. 23.

Washington Regulator, Credit Unions Meet to Discuss “Reasonable Director Compensation”

In the first meeting since the Washington Credit Union Act was updated by the state legislature, the Department of Financial Institutions met with credit union leaders to discuss the rule-making process that will define “reasonable” board compensation.

Depositaries Requested to Adhere to Levy Compliance Rules

The IRS is asking depositaries (banks, credit unions, savings and loans, and similar institutions) to review and understand the responsibilities associated with processing levies.