NCUA Warns of Text Phishing Scam
The regulator has received consumer calls about a suspicious text message claiming to come from the agency.
Anthem
Staff Direct Valley Credit Union’s Latest Video
Challenged to create their own attitude statement, the staff at Valley Credit Union created a beautiful video showing what makes their credit union special.
Compliance Center: NCUA Priorities, 1099s, and More
Regulator to focus on cyber security, interest rate risk, among other priorities; question on mailing 1099 forms answered; plus legal briefs.
Best Practices for Federally Insured Credit Unions’ Advertising, Promotions
When are federally insured credit unions required to include the NCUA sign or statement in advertising and promotional materials? Here’s an explanation from the experts at CSCU.
Regulatory Agencies Release Interagency Statement on Supervisory Approach for Qualified and Non-Qualified Mortgage Loans
The NCUA and three other federal regulatory agencies have released a Joint Interagency Statement on the Supervisory Approach for Qualified and Non-Qualified Mortgage Loans.
FFIEC Releases Statement on End of Microsoft Support for Windows XP Operating System
Microsoft will discontinue its support for the Windows XP operating system on April 18, 2014, and the Federal Financial Institutions Examination Council is urging credit unions to identify, assess and manage the potential risks now.
Compliance Question of the Week
What are the required elements of a small estate affidavit?
The DFI Issued Guidance on State Credit Union Owned Life Insurance
The Washington DFI has issued a compliance update of interest to credit unions carrying life insurance products.
Legal Briefs
Your weekly update on the regulatory landscape.
Legal Briefs
Your weekly update on the regulatory landscape.
Change-in-terms Notice Deadline Approaching for Credit Card Disclosures
With authority for Regulation Z having been transferred to the CFPB, the CFPB’s website must be listed in the Credit Card Account Opening disclosure beginning Jan. 1, 2013.
What I Learned at Compliance School
NWCUA Director of Compliance Services David Curtis reflects on his week spent at “The Happiest Place on Earth” for Compliance School. Did you know remittance transfer disclosures must be in at least 8-point font?
FFIEC Warns Credit Unions About Cloud Computing
The FFIEC believes credit unions should do a thorough risk assessment before deciding to use cloud computing for data storage and other computing purposes, noting that cloud computing is essentially another form of outsourcing.
Compliance Question of the Week
Is the monthly email we send to members telling them their statement is available online covered by the FTC’s CAN-SPAM rules?
Model Forms for Mortgage Statements
Financial institutions will likely need to update mortgage loan statement forms to comply with Dodd-Frank changes to the Truth in Lending Act. The CFPB has issued a prototype form statement to serve as a starting point and is now accepting feedback.
NWCUA Regulatory Advocacy Update
The weekly Regulatory Advocacy Update outlines the NWCUA’s efforts to reduce the regulatory burden on credit unions and protect the larger movement, with updates here on cancelled NCUA board meetings along with opportunities for comment and advocacy.
Agencies Issue Statement to Clarify Supervisory and Enforcement Responsibilities for Federal Consumer Financial Laws
The federal financial supervisory agencies issued a policy statement to explain the measure and schedule to determine an institution’s asset size for purposes of determining supervisory and enforcement responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Compliance Question of the Week
Is a credit union required to send a monthly statement if no share drafts have cleared an account and no EFT transactions have occurred during the monthly cycle?