Compliance News

NCUA Board Meeting Summary

January 14, 2021

The National Credit Union Administration held a Board meeting on a number of proposed and final rules as well as received briefings on the ACCESS (Advancing Communities through Credit, Education, Stability & Support) Initiative and Consolidated Appropriations Act.

EANE: Hotline Call of the Week; Time Management; Vaccine Policies

January 12, 2021

Employers Association of the NorthEast shares HR resources, tips, and training with CCUA members. 

Update on EIP distributions

January 05, 2021

EIP distributions, sometimes called stimulus payments, began Round 2 last week and distribution will continue through mid-January.

Fraud Network Recording/Resources Now Available

December 08, 2020

Greg Woolf, CEO and Founder of FiVerity, and Justin Davis, BSA Fraud Manager at DCU, shared information on Synthetic Identity Fraud during the Fraud Network Meeting on December 7th.

CCUA Now Offering AffirmX - Risk Management Automation Tool - to Members

December 01, 2020

The Cooperative Credit Union Association and CU Risk Intelligence recently inked an agreement to offer AffirmX to members, rounding out a full suite of compliance tools that includes ComplySight and member dues supported InfoSight.

Summary of November’s NCUA Board Meeting

November 19, 2020

Proposed Rule – Capitalization of Interest (Part 741, Appendix B) - The Board issued a proposed rule to allow the capitalization of interest in connection with loan workouts and modifications.

​​​​​​​Exiting Mortgage Moratorium & Trustee Process Focus of Upcoming Compliance Programs

October 26, 2020

Registration is now open.

Agencies Invite Comment on Proposed Rule Under Bank Secrecy Act

October 25, 2020

The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board today invited comment on a proposed rule that would amend the recordkeeping and travel rule regulations under the Bank Secrecy Act.

Critical Discussions in Credit Union Information Security

October 25, 2020

The COVID-19 pandemic has continually introduced new operational practices and security risks. Many long-time credit union professionals are still scrambling to update their audit and security needs to suit.

Fed Creates Pilot Program for FedNow Instant Payments

October 22, 2020

The Federal Reserve announced the creation of the FedNow Pilot Program to support development, testing and adoption of the FedNow Service.

Automated Underwriting System for Mortgages Launched

October 22, 2020

The Federal Housing Administration has announced the launch of its new automated underwriting system (AUS) for use by lenders originating mortgages for FHA insurance.

CDC Adjusts Guidance on Close Contact Definition for COVID Purposes

October 22, 2020

We all know that COVID-19 guidance has been a moving target since the condition came to light earlier this year.  

CCUA Webinar: A Dialogue with NCUA Board Member Todd Harper

October 21, 2020

The Cooperative Credit Union Association is hosting an open dialogue with The Honorable Todd M. Harper, NCUA Board Member on Friday, November 13 at 10:30 am.

SBA Failed to Inform PPP Borrowers About Loan Offset

October 21, 2020

The Small Business Administration failed to inform Paycheck Protection Program borrowers that they would not have a portion of their loan forgiven if they also received an economic injury loan advance from the administration — an omission that has caused shock among PPP borrowers, financial trade groups charged Monday.

Scams Starting on Social Media Proliferate in Early 2020

October 21, 2020

Social media can be a great way to connect with friends while the pandemic has you keeping your distance. 

CFPB Issues Final Rule Extending the GSE Patch

October 20, 2020

The Consumer Financial Protection Bureau (Bureau) has issued a final rule to extend the Government-Sponsored Enterprise (GSE) Patch until the mandatory compliance date of a final rule amending the General Qualified Mortgage (QM) loan definition in Regulation Z. 

CFPB Posts HMDA Data Reference Chart for 2021

October 20, 2020

The CFPB has posted "Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart for HMDA Data Collected in 2021," which can be used as a reference tool for data points required to be collected, recorded, and reported under Regulation C.

FTC Issues Annual Report to Congress on Protecting Older Adults

October 20, 2020

The Federal Trade Commission’s annual report to Congress on protecting older adults provides a detailed look at the scams that most often affect adults over 60, as well as the FTC’s research, law enforcement, and education efforts aimed at protecting older consumers—a top priority for the agency.

CCUA Announces Board Election Results at Annual Meeting

October 18, 2020

The Cooperative Credit Union Association (CCUA) conducted its 2020 Annual Meeting last Friday, and announced the results of its Board of Director elections.

CFPB to Host Virtual Town Hall on Managing Money During the Covid-19 Pandemic

October 18, 2020

Consumer Financial Protection Bureau (Bureau) Director Kathleen L. Kraninger and Brandon Copeland, pro linebacker and University of Pennsylvania Professor, will host a virtual town hall to discuss how people can better manage their money during tough times.

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