Compliance Center: Oregon Department of Consumer and Business Services Issued Rulemaking for Reasonable Compensation

Get the details on the new rule for reasonable compensation of Directors and Supervisory Committee Members; plus your question answered about garnishment fees on Federal Benefit Payments; and this week’s legal briefs!

Compliance Center: HUD Issues Guidance on Multifamily Assisted and Insured Housing Based on Equal Access to Housing Rule

HUD’s guidance aims to avoid discrimination against LGBT Americans; your question answered on NCUA’s record retention regs; plus this week’s legal briefs.

NCUA Eases Secondary Capital Supervisory Policies

Changes make it easier for low-income credit unions to obtain secondary capital and give investors greater clarity.

NCUA Names New Supervisory Examiner for the Northwest

Credit unions are hopeful that new examination leadership will bring Northwest exams in line with other regions.

John Madri, Former Global CEO, has Died

Madri rose through the committee ranks to lead Global Credit Union to impressive growth; is remembered for charting new territory and championing his employees.

News & Notes: Here’s What’s Happening Around the Northwest

Advantis Credit Union’s GROW campaign will award $50,000 in community grants; OnPoint Community Credit Union donates $10,000 to Red Cross for Oso mudslide relief efforts; Columbia Credit Union announces its 2014 board of directors and supervisory committee; OnPoint Community Credit Union is relocating its Beaverton branch in May and opening three new locations later this year; Steve Grote joins Columbia Credit Union as vice president for training and development.

DFI Issues Final Rule for Reasonable Compensation of Directors and Supervisory Committee Members

The Washington state Department of Financial Institutions has released a bulletin that explains its final rule on reasonable compensation for directors and supervisory committee members. The rule takes effect on Feb. 23.

NCUA Releases Supervisory Letter on Private Student Loans

The National Credit Union Administration recently released Supervisory Letter 13-13, which provides guidance to the NCUA field staff on examining Private Student Loans (PSLs) and analyzing the associated risks.

NCUA Releases Supervisory Letter on Enterprise Risk Management

The National Credit Union Administration (NCUA) recently released Supervisory Letter No. 13-12, which discusses the NCUA’s views on Enterprise Risk Management as one framework for managing risk, and the NCUA’s supervisory expectations with regard to credit unions’ risk-management programs.

Washington DCU issues Bulletin on Credit Union Act Changes

The Washington DCU has issued a bulletin detailing the rulemaking process for updates to the state Credit Union Act. Our compliance report tackles some of the changes taking effect July 28.

Washington DFI Issues Two Regulatory Interpretations, More Expected

The Washington DFI offered clarification on regulations related to use of the terms “audit committee” and “supervisory committee” and to credit unions’ investment options for funding employee benefit obligations. An additional interpretive response is anticipated soon as well.

NCUA Outlines Simple Process for Escalating Examination Issues

NCUA Region V Director Liz Whitehead addressed participants at the NWCUA’s June Leadership Symposium and stressed the importance of open and frank dialogue between credit unions and examiners.

Compliance Question of the Week

How detailed should board minutes be?

Regulators Release Guidance on Junior Lien Loss Allowances

The four federal financial regulatory agencies issued supervisory guidance on certain ALLL estimation practices. It addresses the responsibilities of financial institution management and examiners and builds on existing supervisory guidance.

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.

Roundtable Discussion Exceeds Expectations of Volunteers

There were many important topics this year at the NWCUA Volunteers Conference; chief among them: dealing with the regulatory burden for volunteers.

Legal Briefs

Your update on the regulatory landscape.