Compliance Center: CFPB Releases Winter Supervisory Highlights

Findings from recent CFPB examinations; your question answered on verifying names on direct deposit IRS refunds; plus this week’s legal briefs.

Are You Ready for the EMV Migration? CO-OP Has a Subsidy Program to Help

For many credit unions, converting to EMV cards is a cost burden. Strategic Link partner CO-OP Financial Services shares details of a subsidy plan to help debit and in-house credit processing credit unions make the switch more efficiently.

Same Day ACH Payments Approved by NACHA

The plan will result in three daily settlement windows, allowing same-day processing of 99% of ACH payments.

Compliance Center: CFPB Proposed Temporarily Suspending Credit Card Agreement Submissions

The bureau issued proposed rule to temporarily suspend requirement for card issuers to send in agreements; your question answered on verifying names on direct deposit IRS refunds; plus this week’s legal briefs.

Compliance Center: Same Day ACH Is Coming, and More

Same day automated clearing house transactions; your question on aggregating cash in and out transactions answered; plus legal briefs.

FHLB Seattle Declares Q3 Cash Dividend; “Milestone in Bank’s Turnaround”

The FHLB Seattle has declared a cash dividend payable July 30, 2013. The Seattle Bank hasn’t issued a cash dividend in many years, and this is considered a “milestone in the bank’s turnaround” according to a news release issued this week.

FinCEN Issues Advisory on Tax Refund Identity Theft

Credit unions are critical in identifying tax refund fraud, and to assist credit unions in identifying potential cases, FinCEN has identified a number of red flags to bear in mind during tax season.

Compliance Question of the Week

Should I file a CTR?

Technical Change Made to NCUA ‘Golden Parachute Rule’

The NCUA board of directors made technical modifications to its recent rule covering golden parachutes and indemnification payments to institution-affiliated parties.