Compliance News

Association Welcomes New Director of Compliance Services

August 23, 2019

The Cooperative Credit Union Association, Inc. is excited to welcome Jessica Read as its new Director of Compliance Services.


Arrests Made in ID Theft Ring Affecting Service Members

August 23, 2019

Federal investigators in Seoul, South Korea, have made arrests in an identity theft scheme that allegedly involved thousands of U.S. service-members and veterans that also reportedly involved members of at least one credit union, reports CUToday.info.

As CUToday.info reported here, the data breach is suspected to include information on at least 38,000 U.S.-issued payment cards, according to an alert distributed by the Eighth Army via its Facebook page.


Association Seeks Member Input on CFPB’ s QM-designation

August 23, 2019

The Cooperative Credit Union Association, Inc. is seeking your views on a new notice from the Consumer Financial Protection Bureau regarding the definition of “qualified mortgages” under Regulation Z, Truth-in-Lending Act (TILA) and Ability to Repay (ATR)/Qualified Mortgages (QM) Rules.


CUNA Launches ‘Stop the Data Breaches’ MAP Campaign

August 23, 2019

MAP is a program designed to get credit union members involved in advocacy through customizable content that can be merged with a credit union’s current marketing and communications efforts to reach members. Campaign resources include long- and short-form email templates.


FOMC Minutes Released

August 23, 2019

The Federal Reserve Board and the Federal Open Market Committee have released the minutes of the FOMC meeting held on July 30-31, 2019. The Committee decided to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.


Webcast Discusses Financial Scams in New Hampshire

August 22, 2019

CCUA hosted a webcast yesterday morning to discuss financial scams targeting credit unions and their members across the State of New Hampshire.


Visa Adds New Fraud Disruption Measures

August 22, 2019

Visa rolled out four new security features that alert financial institutions about fraudulent ATM activity and card-not-present fraud, as well as detect security vulnerabilities in EMV transactions and merchant websites, this week at the  Visa US Security Summit 2019 in San Francisco


Association President/CEO Ron McLean Applauds Appeals Court Decision to Uphold Most of FOM Rule

August 21, 2019

On Tuesday, a three-judge panel of the U.S. Court of Appeals for the District of Columbia dismissed virtually all of the American Bankers Association’s challenge to the NCUA’s Field of Membership updates, saying that Congress gave the agency wide discretion to make those decisions.


N.H. Court Rejects ‘Patent Troll’ Libel Appeal

August 21, 2019

The New Hampshire Supreme Court unanimously upheld a lower court ruling that dismissed a suit against the Credit Union National Association, the American Bankers Association and others.


FASB Seeks Comment on Delay of CECL Effective Date

August 20, 2019

The FASB Board issued on August 15 an exposure draft for public comment regarding the effective dates of several different standards as they apply to each type of reporting entity.


HUD Proposes Disparate Impact Rule

August 20, 2019

HUD has published a proposed rule at 84 FR 42854 in yesterday’s Federal Register that would amend HUD's interpretation of the Fair Housing Act's disparate impact standard to better reflect the Supreme Court's 2015 ruling in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc


2019 CCUA Awards of Excellence: Call for Nominations Ends Sept. 3

August 20, 2019

The 2019 CCUA Awards of Excellence will place a greater emphasis on honoring the people who make a difference by their personal embrace of the credit union system and its values and principles - the heroes and “credit union legends” among us who set examples for all to follow.


Massachusetts Survey on Public Funds - Deadline Sept. 6

August 20, 2019

Association seeks to illustrate deep relationships between schools and CUs


CCUA and CMG Present COMPLIMENTARY Webinar on Sept. 26: TWO Sessions Offered

August 20, 2019

Industry Trends & Environment Impacts for 2019-2020


Effort to Create Interstate Banking Agreement for State Regulators

August 19, 2019

The National Association of State Credit Union Supervisors is looking to create Interstate Agreement 3.0, with an objective of being about more than just branching.


Fall Network Sessions Open for Registration

August 19, 2019

Network meetings are an excellent opportunity for functional experts within a credit union to meet with other professionals specifically in their area of responsibility. Network events are open to all CCUA affiliated credit union employees.


CFPB Appoints Private Education Loan Ombudsman

August 19, 2019

The Consumer Financial Protection Bureau (Bureau) announced the appointment of Robert G. Cameron to serve as the Bureau’s private education loan ombudsman.


Fed Names Boston’s Montgomery to Lead Development of Real-time Payment System

August 16, 2019

Kenneth Montgomery, first vice president and chief operating officer at the Federal Reserve Bank of Boston, will lead the central bank’s development of its newly planned real-time payment system. He will remain in that role while also heading the development of the FedNow service.


NCUA Responds to Senator’s Letter on Serving Hemp Businesses

August 16, 2019

The National Credit Union Administration (NCUA), along with the Federal Reserve, FDIC, the Office of the Comptroller of the Currency (OCC), and Farm Credit Administration (FCA), have responded to a letter from Sen. Michael Bennet (D-CO) that sought clarification on banking hemp businesses, such as those that manufacture or sell CBD-related products.


New FHA Condo Approval Rule

August 16, 2019

The FHA has issued a new condominium approval rule which will allow certain individual condominium units to be eligible for FHA mortgage insurance even if the condominium project is not FHA approved.


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