Compliance News

McLean, Credit Union Leaders hold dialogue with MA Division of Banks

April 28, 2022

Cooperative Credit Union Association President/CEO Ron McLean and 54 credit union leaders from throughout Massachusetts joined MA Division of Banks Commissioner of Banks Mary Gallagher and members of her team to discuss regulatory, examination and consumer compliance developments/priorities.


Gallagher on Compliance with Semi-Annual Reporting of Certain Mortgage Loans: MGL Chapter 244 Section 35B

March 25, 2022

Mary L. Gallagher, Massachusetts Commissioner of Banks, addressed all state-chartered institutions relative to the reporting of certain loan modifications


What Is a Cyberattack? And Why Are Credit Unions at Risk?

March 14, 2022

In the very rapidly evolving digital world, it is more critical than ever for credit unions to heighten their state of awareness related to cybersecurity.  Examine the variations of cyberattacks and how they can impact your credit union with Melissa Pomeroy, Chief Revenue Officer for the Cooperative Credit Union Association.


McLean Urges CFPB to Exempt CUs from Proposed Small Business Lending Data Collection

January 07, 2022

Citing the significant compliance burdens already on credit unions, especially small credit unions, and the impact the data collection rule will have credit unions’ compliance resources, Credit Union Association President/CEO Ron McLean urged the Consumer Financial Protection Bureau (“Bureau”) to exempt credit unions from the proposed rule relative to small business lending data collection.


COVID-19, Variants, Vaxes, and More

January 06, 2022

An hour-long discussion devoted to the topic of COVID-19 and its impacts for 2022, the potential harm of the Omicron Variant, what we now understand about long-haul symptoms, the current state of vaccinations, and the continued concerns regarding employee relations and compliance


EANE Weekly: Hotline Call of the Week, Imposter Syndrome and Recruitment Plans

December 15, 2021

Employers Association of the NorthEast shares HR resources, tips, and training with CCUA members. This week's highlights include: Hotline Call of the Week, Imposter Syndrome and Recruitment Plans


FedNow: Faster Payment, Future, Feasibility

December 05, 2021

Presented in partnership with the Credit Union Webinar Network, this complimentary recorded webinar explores the FedNow instant payment service. Available on Desktop, Mobile & Tablet, this digital download is yours to keep and can be shared with anyone at your credit union. 


Agencies Issue Exemption Threshold Adjustments

November 30, 2021

The CFPB, Federal Reserve Board, and the OCC have published in the November 30, 2021, Federal Register final rules making inflation adjustments in exemption thresholds under Regulations M and Z. All of the adjustments will be effective for calendar year 2022


Vaccination Mandates and Testing / Follow-up

November 23, 2021

Allison Ebner, Director of Member Services with Employers Association of the NorthEast, joined Bill Nagle, CCUA’s Senior Vice President, Professional Development, for a discussion on what the court-issued stay on the Biden administration's COVID-19 vaccine mandate for U.S. employers with 100 employees or more means to credit unions and their employees.


Elder Abuse Training Presented in Partnership with RI AG Office

November 22, 2021

Rhode Island’s Mickaela Driscoll, Elder Abuse Investigator, and Molly Kapstein Cote, Special Assistant Attorney General, recently examined the law, and associated fraud schemes and scams, with Cooperative Credit Union Association-affiliated credit union professionals. The duo shared alarming statistics, acknowledging that these crimes are drastically under-reported, since victims are often afraid and reluctant to come forward.


EANE Weekly: Hotline Call of the Week, Compensation Basics, Salary Trends, and Purpose Power

November 09, 2021

Employers Association of the NorthEast shares HR resources, tips, and training with CCUA members. This week's highlights include: Hotline Call of the Week, Compensation Basics, Salary Trends, and Purpose Power


4 Tips to Get the Most Out of CU PolicyPro

November 02, 2021

CU PolicyPro®, an online system with more than 230 detailed model policies to help credit unions manage today’s ongoing compliance and operational challenges, is offered FREE OF CHARGE to CCUA members as a benefit of affiliation. Keep your policies up-to-date and in compliance with help from CU PolicyPro!


CCUA Forum Sheds Light on Dealing with Vaccination Mandates

November 01, 2021

CCUA President/CEO Ron McLean, joined by Alison Ebner from the Employers Association of the Northeast, held a virtual forum yesterday for members to discuss the questions and strategies surrounding the vaccination mandate. 


EANE Weekly: Hotline Call of the Week; Excel Training; Courageous Conversation; and Harassment and Discrimination Training

October 27, 2021

Employers Association of the NorthEast shares HR resources, tips, and training with CCUA members. This week's highlights include: Hotline Call of the Week; Excel Training; Courageous Conversation; and Harassment and Discrimination Training


Summary of October NCUA Board Meeting

October 21, 2021

The National Credit Union Administration Board approved two items during its nineth open meeting of 2021:

•         A final rule that adds the sensitivity to market risk or “S” component to the existing CAMEL rating system and redefines the liquidity risk or “L” component; and

•         A final rule that expands the list of permissible activities and services credit union service organizations or CUSOs are allowed to engage in.

In addition, the NCUA Board received a semiannual briefing on cybersecurity risks confronting credit unions and the financial services sector.


McLean Urges NCUA to Level Playing Field for CUs

October 18, 2021

In responding to request for comments on the National Credit Union Administration’s proposed rule on the Complex Credit Union Leverage Ratio (“CCULR”), Cooperative Credit Union Association President/CEO Ron McLean urged the NCUA to set the CCULR leverage requirement at 9% permanently so that credit unions will have a level playing field with community banks adopting the Federal Deposit Insurance Corporation’s Community Bank Leverage Ratio.


Rhode Island AG’s Office Holds Elder Financial Abuse Training

October 07, 2021

The Rhode Island Attorney General’s Office recently held a substantive training program on elder financial abuse for financial institutions, which was well attended by Association member credit unions.


MA Student Loan Servicer Regulations Made Final

September 19, 2021

The Massachusetts Division of Banks (Division) has filed the final amendments to 209 CMR 18.00: Conduct of the Business of Debt Collectors, Student Loan Servicers, and Third Party Loan Servicers and 209 CMR 48.00: Licensee Record Keeping


Action Alert:  IRS Tax Reporting Provisions

September 07, 2021

In an effort to increase taxpayer compliance, the IRS is proposing a requirement for credit unions and other financial institutions to report additional account holder information in an enhanced annual IRS Form 1099-INT. CUNA has issued an Action Alert for credit unions to urge legislators to reject the inclusion of these new IRS reporting provisions in the upcoming infrastructure reconciliation bill.


Top 10 Wage and Hour Mistakes (Virtual) -  FREE TO CCUA MEMBERS

August 19, 2021

Increase your basic understanding of FLSA by focusing on the more challenging and misunderstood exemptions and the many unknown pitfalls and mistakes employers make when classifying positions.


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