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New Legal Opinions Available

The HCUA Compliance Department, on behalf of our member credit unions, recently requested legal opinions regarding the following topics:

Overdraft and NSF Fees Litigation (White Paper)

Credit unions, and other financial institutions across the country, have been the subject of class-action lawsuits relating to their practices for charging overdraft and NSF fees.  This White Paper identifies potential areas for concern, suggests what each credit union should review, and the changes that should be considered to minimize risk.  Also, a portion of the White Paper provides advice regarding how to respond to the requests credit unions are receiving to forgive certain fees.  Information is not state-specific. 

Vehicle Lien Perfection

This legal opinion provides a detailed overview of the state-specific vehicle lien perfection process, issues that can arise, credit union options, fees, bankruptcy concerns, and more.  There are two separate legal opinions, one for Kansas and one for Missouri. 

 

To request a copy, contact HCUA Compliance at compliance@heartlandcua.org, 800-446-3620 or 314‑542‑1382.

Vocab Compliance: