Starting in October, the Washington Dept. of Financial Institutions, Division of Credit Unions, will notify the credit union of the filed complaint through encrypted email with a read receipt upon delivery.
Also, a collection of legal news from the federal regulatory arena, and this week’s compliance question, answered.
NCUA provides updated guidance on enhanced share insurance coverage for IOLTA and other similar escrow accounts; your question answered about safe deposit boxes and BSA compliance, plus this week’s legal briefs.
Learn more about the course and register; your question answered about periodic training for mortgage loan originators; plus this week’s legal briefs.
Maps shreds 20 tons of documents; Gesa announces unique community partnership; STCU promotes Flood to VP of lending; Columbia welcomes new VP of business lending; Solarity hires new HR Manager.
As your members click, swipe and tap their way to perfect gifts, make sure they’re protected from fraud by sharing these quick tips.
The NCUA lays out the top 10 cyber security areas its examiners may focus on, plus legal briefs and the question of the week.
Nineteen percent of Oregon’s households have limited or no access to the financial system. Bank On Oregon is recruiting credit unions to help provide safe services to those consumers.
Credit unions have until Dec. 31 to register or renew their Mortgage Loan Originators and complete both a SAFE Act and ACH audit.
What happens if the person who is renting a safe deposit box dies?
Rumors that Department of Homeland Security agents are allowed access to safe deposit boxes without first presenting a warrant or a subpoena authorizing entrance have resurfaced online, but according to the NWCUA’s David Curtis, DHS “has issued no such memo, and we don’t expect that we will see anything even remotely similar to this in the future.”
Are we required to implement policies and procedures specifically relating to safe deposit boxes and Bank Secrecy Act (BSA) monitoring? We have heard rumors that the NCUA is asking credit unions to produce and monitor reports that monitor safe deposit box activity.
Slow days in newsrooms across the Northwest have reporters searching for content. Become a resource to your local media and help your members avoid their annual Holiday hangover by pitching these 12 simple tips to help consumers stay safe and save money.
Administrative Ruling Regarding the Participation of Associations of Financial Institutions in the 314(b) Program
FinCEN has defined the term “association of financial institutions” as “a group or organization the membership of which is comprised entirely of financial institutions.” An association of financial institutions may share information under section 314(b) of the USA PATRIOT Act.
Does a CTR need to be filed when you know a member is placing more than $10,000 in a safe deposit box?
In an amendment to Reg E, the CFPB concluded that institutions that conduct 100 or fewer remittance transfers per year—which includes roughly 80 percent of credit unions—should be exempt from remittance transfer requirements.
Credit unions and MLOs that registered with the NMLS last year must complete annual SAFE Act independent testing by the end of the year, according to CUNA, and not by July 29, which was the 2011 deadline for completing initial NMLS registration.
The Nationwide Mortgage Licensing System (NMLS) and Registry, the registry for mortgage loan originators, has warned users that its renew status report contains errors.