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The Compass

  • IRA Changes

    Feb
    03
    IRA Changes

    The Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law on December 20, 2019.  Many of the Act’s provisions took effect on January 1, 2020.  The primary goals of the SECURE Act are to expand retirement savings, improve plan administration, simplify existing rules, and preserve retirement income. 

    Posted By Bridget Bowles read more
  • UDAAP policy statement

    Feb
    03
    UDAAP policy statement

    The Consumer Financial Protection Bureau (CFPB) has issued a policy statement that describes how it intends to approach the use of the “abusiveness” prong of the Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) standard in its supervision and enforcement matters going forward. 

    Posted By Bridget Bowles read more
  • CFPB Compliance Aids

    Feb
    03
    CFPB Compliance Aids

    The Consumer Financial Protection Bureau (CFPB) recently issued a policy statement announcing a new designation for certain guidance, known as “Compliance Aids,” and to explain the legal status and role of guidance with that designation.

    Posted By Bridget Bowles read more
  • NCUA’s 2020 supervisory priorities

    Feb
    03
    NCUA’s 2020 supervisory priorities

    The National Credit Union Administration (NCUA) has issued a Letter to Federally Insured Credit Unions No. 20-CU-01 that describes supervisory priorities for 2020. 

    Posted By Bridget Bowles read more
  • New legal opinion available

    Feb
    03
    New legal opinion available

    The HCUA Compliance Department, on behalf of our member credit unions, recently requested a legal opinion regarding telephone & video monitoring. 

    Posted By Bridget Bowles read more
  • InfoSight unveils new look and features

    Dec
    17
    InfoSight unveils new look and features

    <p>League InfoSight announced several major enhancements to its online platform for credit unions. Key upgrades include the addition of customizable dashboards and a redesigned interface and expanded compliance information covering 25 topics.</p>
     

    Posted By Susan Dyer read more
  • NCUA fair lending & consumer compliance webinar

    Nov
    26
    NCUA fair lending & consumer compliance webinar

    The National Credit Union Association recently hosted a webinar on fair lending and consumer compliance.  An archived version will be available on NCUA’s YouTube channel in approximately three weeks.

    Posted By Karen Baker read more
  • Account card reminder

    Nov
    26
    Account card reminder

    The beginning of a new year is a good time to remind members to update their account cards. We recommend that credit unions periodically take steps to protect both the credit union and your member. 

    Posted By Karen Baker read more
  • CUNA’s new compliance management system coming soon!

    Nov
    26
    CUNA’s new compliance management system coming soon!

    CUNA’s new Compliance Management System (CCMS) is currently being tested and will be launched on a national basis in 2020. 

    Posted By Karen Baker read more
  • New legal opinion available

    Oct
    30
    New legal opinion available

    On behalf of our member credit unions, our Compliance team recently requested legal opinions regarding Unclaimed Property. 

    Posted By Karen Baker read more

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