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NCUA Removes CUSO Registry Requirement From Call Reports

The move is part of Chair Metsger’s Continual Quality Improvement effort, and begins with the Sept. 30 reporting cycle.

Compliance Center: CFPB Issues Bulletin on Reporting Negative Account Histories

The CFPB warns financial institutions about misreporting account information to credit reporting companies; your question answered about FCRA requirements for credit reporting; plus this week’s legal briefs.

CFPB Announces Final HMDA Rule

The NWCUA and CUNA point out the rule’s detrimental impact—especially on small credit unions—despite certain concessions.

Inter-Agency Guidance Issued for HELOCs Nearing the End-of-Draw Periods

Five federal regulatory agencies and the Conference of State Banks Supervisors issued new guidance for HELOCs nearing their end of draw periods. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union sell a reposed vehicle?”

Fear of Retaliation: How to Protect Whistleblowers and Prevent Lawsuits

Government statistics say it’s a pervasive and growing problem in the U.S.: employers retaliating against employees who are involved in reporting a co-worker’s wrongdoing. How can credit unions protect whistleblowers who report discrimination, harassment or other misconduct – not to mention the credit union itself and anyone else involved?

Compliance Center: CFPB Releases Insight into Potential HMDA Charges

A fact sheet from the Consumer Financial Protection Bureau explains changes the bureau is considering to the Home Mortgage Disclosure Act. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “How do we ID a minor when they are opening an account?”

A Closer Look: NCUA Finalizes New CUSO Registration and Reporting

Brian Witt, an attorney with the law firm Farleigh Wada Witt, says credit union losses from CUSO operations are infrequent, but it’s the magnitude of recent CUSO losses that led to increased regulation and the NCUA’s final CUSO rule.

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.

Credit Unions Must Investigate Consumer Credit Report Disputes

A new bulletin from the Consumer Financial Protection Bureau spells out the bureau’s expectations for companies that furnish information for credit reports.

Washington Credit Union Leaders Discuss Director Compensation with DFI

Credit union leaders and the Washington DFI met this week to discuss the rulemaking process that will help to define director compensation.

Introducing Card Management Intelligence Reporting Module in Pass-Through Web

Credit unions with a bustling back office need effective solutions to manage their cardholder accounts, perform portfolio research and maintain data integrity between their core system and payment processor. Strategic Link business partner CSCU and FIS offer solutions.

FTC Warns Marketers That Mobile Apps May Violate Fair Credit Reporting Act

The Federal Trade Commission has warned marketers of six mobile background-screening apps that they may be violating the Fair Credit Reporting Act, which is designed to protect privacy and ensure the accuracy of consumer report information.

Legal Briefs

The NWCUA’s weekly rundown on the regulatory landscape.

Legal Briefs – Dec 28, 2011

Your rundown on the regulatory landscape.

Association Provides Portal to Debit Discrimination Reporting

The NWCUA’s Regulatory Advocacy team works with state and federal regulators to help reduce the regulatory burden on credit unions and protect the credit union movement. Included here is an update on the debit interchange fee and the importance of reporting suspected instances of steering.

Credit Union Views Sought on CUSO Reporting Plan

The National Credit Union Administration is proposing a controversial requirement that credit union service organizations (CUSOs) file their financial statements to the agency. Credit union professionals with concerns about the proposal have until September 26 to file comment letters.

NYIB Classroom Reporting Deadline Announced

NYIB collects annual figures through user profiles on its website to recognize outstanding performance and support credit union advocacy.

Legal Briefs

Your update on the regulatory landscape.