Resources for Compliance
Listed below are events, tools, and resources to help Compliance Officers.
Banks of all sizes are readying dry runs of their loan portfolios to gauge their performance under the current expected credit loss model, or CECL, which goes into effect in a little over a year. The exercise, commonly referred to as a parallel run, will show banks the gap in the allowance under the incurred approach and CECL. The parallel runs will also test banks' processes and controls around the allowance calculation and figure strongly into an institution's initial allowance disclosure.
The Association is hosting a complimentary special event, Community Reinvestment, Fair Lending and Beyond: A Practitioner’s Guide, on Thursday, November 14th at the Hilton Garden Inn located in Marlborough, Mass.
The Cooperative Credit Union Association (CCUA) will usher in CUNA's Governmental Affairs Conference (GAC) on Sunday, February 23, with a members-only networking reception at Bobby Van's Grill in Washington, D.C., from 5-7 pm.
NCUA finalized changes to its fidelity bonds rule in July, and the changes go into effect Oct. 22. The Federal Credit Union Act requires that certain credit union employees and elected officials have fidelity bond coverage.
The National Flood Insurance Program is again operating under a temporary authorization and the Congressional Research Service (CRS) is warning of the dire consequences if it allowed to lapse.
Expanding in size and strengthening yet again, violent Hurricane Florence is on a beeline toward the East Coast as an “extremely dangerous” Category 4 hurricane. Catastrophic flooding and destructive winds are becoming very likely in the eastern Carolinas north of Charleston, where hurricane warnings were issued late Tuesday. Be prepared - download Business Continuity and Disaster Recovery Planning, a white paper from CUNA Mutual which outlines procedures and guidelines your credit union could follow in developing its own business continuity plan.
With the holidays behind us, the dawn of the New Year is a good time to review your robbery prevention and incident reporting procedures. A well-trained and well-equipped staff is your best defense, but here are a few other things to keep in mind.
As the April filing deadline approaches, the Internal Revenue Service warned taxpayers to be alert to tax time phone scams where aggressive criminals pose as IRS agents in hopes of stealing money or personal information.
National Credit Union Administration Chairman Rodney Hood on Tuesday offered further insights into an upcoming proposal from the agency surrounding CU-bank purchases
Next week, the National Credit Union Administration will pay dividends for more than 5,700 institutions eligible for the $735.7 million Share Insurance distribution, the agency announced. Statements will be mailed to dividend recipients this week, indicating the amounts they will receive. An institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period in calendar year 2017 will be eligible for a pro rata distribution.
Bank Secrecy Act and OFAC requirements continue to challenge credit unions of all sizes. As we have come to learn, examiner expectations vary from institution to institution depending on the level of risk—risks including who you serve, and where and how you serve your membership. Join Bill Nagle, SVP, Professional Development, CCUA, on November 8 for an all-day program devoted to BSA.
Under the federal Fair Labor Standards Act, nonexempt employees must be paid minimum wage. The federal minimum wage, or pay floor, remains at $7.25 per hour for non-tipped employees and $2.13 per hour for tipped employees. Under circumstances in which a state, city or county minimum wage rate is higher than the federal rate, employers are required to pay workers the higher amount.
Bank Secrecy Act and OFAC requirements continue to challenge credit unions of all sizes. A BSA update will be held in the Association Office in the Newark, DE on April 16.
Join the Compliance Network on March 14th for our annual Compliance Hot Topic Review. CCUA is excited to welcome Glory Ledu, CEO of League InfoSight, for this half day program.
Join the Compliance Network on March 14 for our annual Compliance Hot Topic Review. CCUA is excited to welcome Glory Ledu, CEO of League InfoSight, for this half day program. Ledu will provide attendees with a review of the important compliance issues facing credit unions today and will look ahead to compliance topics of 2019.
HUD has announced its new schedule of FHA loan limits for 2019, with limits increasing in most areas of the country, further detailed in Mortgagee Letter 18-11, effective for forward mortgage case numbers, and Mortgagee Letter 18-12, effective for Home Equity Conversion Mortgage (HECM) case numbers, assigned on or after January 1, 2019.
The Association has compiled a first-time GAC attendee checklist to help guide you through the busy event.
To help you make the most of your experience at next week’s 2019 GAC, the Association continues to update the 2019 GAC Resources Webpage and App as new information becomes available.
The HMDA modified loan/application register (LAR) is now available for each institution that filed HMDA data collected in 2019.
Credit unions are more than financial institutions; we exist to serve our members and enhance our communities. We all know that credit unions are doing great work each day on behalf of their members. The Cooperative Credit Union Association wants to collect, aggregate and communicate all that great work through a new report: The CCUA Impact Report.
The Association has already launched its Massachusetts state legislative advocacy platform for the new session. Members are invited to dialogue on new legislative initiatives to be introduced for the 2019-2020 session. Compiling member suggestions is a top priority to ensure that Association filings incorporate local views, represent meaningful advocacy, and include an effective strategic direction. The 2019-2020 filing deadline is January 18, 2019.
To provide a forum for discussion, the Association will host a conference call on January 8 at 2:00 pm on pending proposals for the next session.
2019: In with the NEW- CU Marketplace Experience & Cooperative Advocate Featured on Latest CU Marketplace Experience Podcast
In the first episode of Credit Union Marketplace Experience Podcasts for 2019, Walt Laskos, CCUA Senior Vice President, Strategic Communications, discusses the Association’s new, one-day trade show event – CU Marketplace Experience, and the Cooperative Advocate - the Association’s official new quarterly magazine.
Preparations for the 2020 CUNA Governmental Affairs Conference are underway by the Cooperative Credit Union Association, Inc. As a convenient service for members of the Association at no cost, the Association has negotiated a room block for our CUNA GAC attendees.
Rescheduled to May 2021. Out of an abundance of caution due to the COVID-19 pandemic, the Cooperative Credit Union Association (CCUA) made the decision to postpone its ever-popular CU Accelerate Conference, scheduled for May 8-10, 2020.
The 2020 CUNA Governmental Affairs Conference will run from February 23 through February 27 at the Washington Convention Center, 801 Mount Vernon Place, Washington D.C.
On September 25th, 2019, the Bureau released the 2020 FIG and the Supplemental Guide for Quarterly Filers, published resources for financial institutions required to file HMDA data.
The Treasury Department has announced that the IRS will implement a redesigned W-4 form for tax year 2020, a timeline that will allow for continued work to refine the new approach for the form.
A security lapse, traced back to Arlington, Texas-based Ascension, left millions of mortgage records exposed online without proper data protections.
There are better ways for credit unions to manage their branch equipment so they can maximize savings and focus their time on more important things.
Most members typically have similar financial needs across their financial lives: cash management; credit and loans; asset accumulation, future income generation, insurance, and leaving a legacy for future generations. CUNA Brokerage Services, Inc. (CBSI) works with credit unions to address their members’ financial needs for their retirement years through a blueprint for success.
SBA - PAYCHECK PROTECTION PROGRAM
Looking for assistance on how to become an SBA lender for PPP? Check out CCUA's resource center.