Compliance Center: Requirements of Oregon’s Sick Time Law

Oregon’s new sick time law took effect January 1. Your compliance report this week details what credit unions need to know.

Compliance Center: Requirements of Oregon’s Sick Time Law

Oregon’s new sick time law took effect January 1. Your compliance report this week details what credit unions need to know.

CFPB Announces Final HMDA Rule

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

Compliance Center: Safe Harbor Obtained!

Get the low down on the recent MLO training course; your question answered about money laundering red flags; plus this week’s legal briefs.

‘Know Before You Owe’ Rule to be Delayed Two Months

The CFPB announced that it had discovered an administrative error, which prompted the delay.

CUNA Sends Field of Membership Reform Recommendations to NCUA

In an important letter to the NCUA, CUNA laid out detailed recommendations for the reform of field of membership requirements.

Compliance Center: DCU Guidance on State Mandated Disclosure Summary

Washington’s Division of Credit Unions says separate state disclosure no longer necessary if federal disclosures are made; plus question of the week and legal briefs.

Time’s Up: Comments on Risk-Based Capital Proposal Must Reach NCUA by Wednesday

Credit unions have until May 28 to comment on the NCUA’s Risk-Based Capital proposal, and those who can’t submit their own letters still have time to add their names to the NWCUA’s strongly worded missive.

NCUA Issues Regulatory Alert Regarding Ability-To-Repay and Qualified Mortgage Rule

The NCUA has issued a new regulatory alert to remind credit unions of the compliance requirement for the CFPB’s Ability to Repay/Qualified Mortgage Rule. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “What happens if the person who is renting a safe-deposit box passes away? Who has access?”

FinCEN ‘Unlocks the Door’ to Serving Marijuana-Related Businesses, Attorney Says

FinCEN’s guidance for credit unions that want to serve marijuana-related businesses certainly provides clarity, attorney Hal Scoggins writes, but it brings minimal regulatory relief.

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?”

NCUA Proposal Would Revise Risk-Based Capital Requirements

Credit unions with assets of more than $50 million would be subject to revised risk-based capital requirements under a proposal announced Thursday by the National Credit Union Administration that would require a risk-based capital ratio of 10.5 percent to be classified as “well capitalized.”

NCUA Releases Additional Regulatory Alerts on Mortgage Servicing Rules

The National Credit Union Administration has released regulatory alerts regarding the new Mortgage Servicing Requirements under the Truth in Lending Act and the Real Estate Settlement Procedure Act.

Compliance Question of the Week

Do we need to certify our exemption from the foreclosure bills in Oregon and Washington every year?

NCUA Issues Regulatory Alert Regarding HOEPA Rule

The National Credit Union Administration has issued a regulatory alert to all federally insured credit unions focusing on the new Homeownership Counseling and Consumer Protection Requirements under HOEPA requirements that go into effect on Friday, Jan. 10.

NCUA Issues Regulatory Alert Regarding Ability to Repay and Qualified Mortgage Rules

The National Credit Union Administration has issued a regulatory alert to all federally insured credit unions focusing on the Ability-to-Repay (ATR) and Qualified Mortgage (QM) requirements that go into effect on Friday, Jan. 10.

Certification of Exemption from Foreclosure Mediation Due by Jan. 31

Credit unions in Washington and Oregon have until the end of the month to renew their Certification of Exemption from Foreclosure Mediation to avoid the mandatory mediation clauses in both states’ foreclosure statutes.

A Look Back at Compliance Issues in 2013

Without a doubt, 2013 may have been one of the most challenging years ever for dealing with new compliance requirements.