Compliance News

BB&T/SunTrust Banks Merger Prompts Lawsuit by Truliant FCU

June 18, 2019

BB&T and SunTrust Banks announced last week that the new name of their combined Charlotte-based bank would be Truist. That action has prompted a lawsuit by Truliant Federal Credit Union, which claimed Monday that the new name represents a "clear infringement on our name" and would confuse customers in its market.


Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

June 18, 2019

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency today announced the availability of the 2019 list of distressed or underserved nonmetropolitan middle-income geographies, where revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) consideration under the community development definition.


Six CUs Assessed Penalties for Late Filing

June 18, 2019

NCUA has assessed civil money penalties against six credit unions for being late in filing their year-end 2018 call reports.


CMS Expectations: Preparing for Your Next Exam

June 18, 2019

Join this complimentary webinar hosted by Wipfli.


Individual Coverage and Extended Benefit Health Reimbursement Arrangements Are in Play for 2020 Plan Start Dates

June 18, 2019

On June 13, new regulations were issued by the U.S. Departments of Health and Human Services, Labor, and Treasury. The final rule creates two new kinds of Health Reimbursement Arrangements (HRAs) – the Individual Coverage HRA (ICHRA) and the Extended Benefit HRA – effective for January 1, 2020 plan start dates


Sheltered Harbor Cyber-Defense Webinar TOMMOROW

June 18, 2019

Sheltered Harbor, a voluntary initiative designed to help protect against cyberattacks, will conduct a free informational webinar June 19, 1:00- 2:00 pm.


Warren Bill Would Wipe Out Nearly All Student Debt in US

June 17, 2019

Sen. Elizabeth Warren (D-Mass.) last week announced a bill that would forgive billions of dollars in outstanding student loans and wipe out almost all student debt held in the U.S.


Fed Reserve Board Requests Comment on FOIA and CSI Changes

June 17, 2019

The Federal Reserve Board on Friday requested public comment on technical, clarifying updates regarding its Freedom of Information Act (FOIA) procedures and changes to improve the efficiency of its rules governing the disclosure of confidential supervisory information (CSI).


House Armed Services Committee Passes NDAA; Removes Language Giving Banks Access to Bases

June 14, 2019

The House Armed Services Committee has passed the National Defense Authorization Act for fiscal year 2020 without including language that would have granted banks the same rent-free access to land and facilities that credit unions have long held. 


HFSC Passes BSA, Flood, Financial Literacy Bills

June 14, 2019

The House Financial Services Committee passed eight bills at the conclusion of a two-day markup Wednesday. Four the bills cover the Bank Secrecy Act, the National Flood Insurance Program and financial literacy programs.


RBC Proposal on NCUA’s June 20 Agenda

June 14, 2019

The NCUA board will release a proposal on risk-based capital at its June 20 meeting, according to the agenda released Thursday. The proposal is the only item on the agenda.


Take a Forward Path:  Innovate – Integrate – Motivate for Your CUs Future Success at CCUA’s Annual Meeting and Convention

June 14, 2019

Join your credit union peers at the Cooperative Credit Union Association, Inc.’s, 2019 Annual Meeting and Convention where we will highlight this year’s theme of Innovate – Integrate – Motivate! This annual event will return to Mohegan Sun in Uncasville, Conn., one of New England’s finest convention and meeting facilities, October 16-18.


Fed Publishes Summary of Roundtable Discussions on CRA

June 14, 2019

The Federal Reserve Board on Thursday published, "Perspectives from Main Street: Stakeholder Feedback on Modernizing the Community Reinvestment Act," a summary of feedback received from bankers and community groups during a series of 29 roundtable discussions on the current state of, and potential revisions to, the Community Reinvestment Act (CRA).


Scanning Compliance

June 14, 2019

Compliance news you can use.


Loudermilk, Gottheimer Introduce Bipartisan Bill to Cut Red Tape to Boost Jobs, Investment, and Economic Growth

June 13, 2019

 Protects our families and communities


Use Payment Apps Like Venmo, Zelle And Cashapp? Here’s How to Protect Yourself from Scammers

June 13, 2019

Peer-to-Peer (P2P) payment platforms — such as Zelle, Venmo, Apple Pay, Google Pay, Facebook Payments and Cash App — make it convenient to send someone money from your checking account. Unfortunately, scammers have now discovered them.


MA Paid Family and Medical Leave: Update from CBA Companies

June 13, 2019

Comprehensive Benefits Administrators (CBA) provides updates and insight into the Mass. Paid Family And Medical Leave Act. Credit Unions are invited to a seminar on June 20. 


CUs Invited to Webinar: Flexible and Affordable Lending: CRA Considerations and Opportunities

June 13, 2019

Presented by the Mass DOB and MassHousing, Inc


Mass. Leaders Delay Paid Family & Medical Leave Program by 3 Months

June 12, 2019

Massachusetts Governor Charlie Baker, Senate President Karen Spilka, and House Speaker Robert DeLeo issued a joint statement yesterday announcing their agreement to extend the July 1 starting date for contributions to the new paid family and medical leave program by Massachusetts businesses by three months.


DE Deputy Attorney General Updates Small CUs on Elder Financial Exploitation

June 12, 2019

Delaware’s small credit unions (<$100 M) met on Monday evening at the Association office in Newark for a presentation on elder financial abuse from Deputy Attorney General Regina S. Schoenberg, Consumer Protection Unit, Department of Justice.


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