Compliance News

NEWS FROM THE NCUA

July 01, 2020

The latest news from the NCUA


New UDAP/UDAAP Booklet from OCC

July 01, 2020

OCC Bulletin 2020-65, issued June 29, 2020, announced a new "Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices" booklet for the Comptroller's Handbook. This booklet is part of the Consumer Compliance series of the Handbook.


Guidance Regarding Due Diligence Requirements under the BSA for Hemp-Related Business Customers

June 30, 2020

The Financial Crimes Enforcement Network (FinCEN) is issuing guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp-related business customers.


News from the NCUA:

June 29, 2020

The latest news from the NCUA.


NCUA Projects Distributions to Capital Holders from Guaranteed Note Program, Issues Request for Information on Digital Examinations, Minority Depository Institutions Report

June 25, 2020

The National Credit Union Administration Board (“Board”) today held a Board Meeting that was open to the public via live audio webcast.


FFIEC Announces Availability of 2019 Data on Mortgage Lending

June 25, 2020

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2019 mortgage lending transactions at 5,508 U.S. financial institutions covered by the Home Mortgage Disclosure Act (HMDA). Covered institutions include banks, savings associations, credit unions, and mortgage companies.


Federal & State Regulatory Agencies Issue Examiner Guidance for Assessing Safety & Soundness

June 24, 2020

The National Credit Union Administration, in conjunction with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and State Financial Regulators, has issued examiner guidance to promote consistency and flexibility in the supervision and examination of financial institutions affected by the COVID-19 pandemic.


Reminder: FFIEC BSA/AML Examination Manual Webinar-June 26

June 24, 2020

The Federal Financial Institutions Examination Council (“FFIEC”) will host an interagency webinar this Friday, June 26, beginning at 1:00 pm.


Save-the-Date: Next Compliance Coffee Call Meeting July 10

June 24, 2020

The Cooperative Credit Union Association’s next Compliance Coffee Call Meeting will be held on Friday July 10, at 11:00 am. via RingCentral webinar.


NCUA Extends MDI Mentoring Grants Application Deadline to July 31

June 24, 2020

Credit unions eligible to apply for the National Credit Union Administration’s minority depository institutions mentoring grants now have until Friday, July 31, to submit their applications.


CFPB Issues Interpretive Rule on Method for Determining Underserved Areas

June 24, 2020

The Consumer Financial Protection Bureau (Bureau) has issued an interpretive rule to provide guidance to creditors and other persons involved in the mortgage origination process about the way in which the Bureau determines which counties qualify as “underserved” for a given calendar year.


CFPB Takes Steps to Address GSE Patch

June 22, 2020

The Consumer Financial Protection Bureau (Bureau) yesterday issued two Notices of Proposed Rulemaking (NPRMs) to address the impending expiration of the Government-Sponsored Enterprises Patch (GSE Patch).


Planning Your Annual Meeting—Go Virtual!

June 22, 2020

Don’t let the pandemic and the need for social distancing prevent your credit union from hosting a successful annual meeting. Simply, go virtual!


Fair Lending Risk and COVID 19:  Strategies for Maintaining Fair Lending Compliance

June 21, 2020

The Division of Banks invites you to REGISTER  to an upcoming webcast, Fair Lending Risk and COVID 19:  Strategies for Maintaining Fair Lending Compliance, as part of the DOB Connects COVID-19 Series.


CCUA Hosts 40 for Virtual IRA Training Session

June 21, 2020

In response to credit union employees’ needs, CCUA scheduled a live IRA training session at its headquarters in Marlborough, MA this spring. 


News from the NCUA:

June 17, 2020

A compilation of the latest news from the National Credit Union Association.


Compliance Coffee Call June 19

June 17, 2020

Registration still open for E-Sign: Do's & Don'ts During a Pandemic and Beyond, Friday, June 19 at 11:00 am 


Don’t Miss These! PPP Flexibility Act & Loan Forgiveness Webinars All Week Long

June 14, 2020

The SBA Rhode Island District Office will be hosting webinars throughout the week to discuss the recently passed PPP Flexibility Act, and what the changes in the Act mean for you and your small business. 


June 19: How the Benefits Landscape WILL Adapt Post COVID-19

June 14, 2020

Having the ability to anticipate trends in the healthcare market is imperative to successful planning. The market leaves clues as to what needs to be addressed in order to affect change. What is the new normal after COVID-19?  Healthcare has changed forever.


IRS Provides Guidance on Employer Leave-Based Donation Programs That Aid Victims of the COVID-19 Pandemic

June 11, 2020

The Internal Revenue Service has provided guidance for employers whose employees forgo sick, vacation or personal leave because of the COVID-19 pandemic.


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