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.

A Closer Look: NCUA Finalizes New CUSO Registration and Reporting

Brian Witt, an attorney with the law firm Farleigh Wada Witt, says credit union losses from CUSO operations are infrequent, but it’s the magnitude of recent CUSO losses that led to increased regulation and the NCUA’s final CUSO rule.

NCUA Loan Participation Policy Requirements Effective on Monday

The Loan Participation Rule issued by the National Credit Union Administration earlier this summer takes effect on Monday, and credit unions will want to make sure they are meeting the requirements of the final rule.

NCUA Releases Regulatory Alert to Remind Credit Unions of ECOA Valuations Rule

The regulatory alert reminds credit unions of the Consumer Financial Protection Bureau’s new rule on real estate appraisals and valuations under the Equal Credit Opportunity Act, and also serves as a reminder of the Jan. 18, 2014, compliance date.

Compliance Question of the Week

Can a credit union send a member a credit card even though it has not been requested by the member?

Appraisals: A Tale of Two CFPB Proposals

The CFPB has issued two rulemaking proposals regarding appraisals, both of which come as a product of the Dodd-Frank Act.

Is Your Disaster Plan Up to the Test?

Brad Mundine, senior manager of the Credit Union Protection Risk Management team for Strategic Link strategic partner CUNA Mutual Group, explains that when it comes to disaster planning, writing the plan is only the first step.

Legal Briefs

Your weekly update on the regulatory landscape.

Compliance Question of the Week

Can I charge any fees due to dormancy or inactivity, or stop paying interest on a dormant account?

Compliance Question of the Week

Is a garnishment order written by an attorney subject to the new rules regarding protecting Federal Benefits Payments from garnishment?

Proposal Addresses Interest Rate Risk Management

In March the NCUA Board issued a proposed amendment to Part 741 that would require certain federally insured credit unions to have a written policy to address interest rate risk management, as well as an effective IRR program for successful asset liability management.

Washington League Introduces new ‘Credit Union Song’ at 77th Annual Meeting

See Brandon Johnston sing his song at the Annual Business Meeting and download the song for free!