User login

The Compass

  • NCUA BSA webinar

    Jun
    02
    NCUA BSA webinar

    The National Credit Union Administration (NCUA) will host a “Bank Secrecy Act (BSA): Review and Reminders Webinar” on June 17 at 2 p.m. (Central).  Credit unions will receive valuable information on BSA program best practices and how to avoid non-compliance pitfalls. 

    Posted By Bridget Bowles read more
  • Unemployment benefits fraud

    Jun
    02
    Unemployment benefits fraud

    The U.S. Secret Service has received reports of a well-organized Nigerian fraud ring exploiting the COVID-19 crisis to commit large-scale fraud against state unemployment insurance programs. The primary state targeted so far is Washington, while there is also evidence of attacks in North Carolina, Massachusetts, Rhode Island, Oklahoma, Wyoming and Florida. It is extremely likely every state is vulnerable to this scheme and will be targeted if they have not been already.

    Posted By Bridget Bowles read more
  • Overdraft/NSF fee demand letters & lawsuits continue

    Jun
    02
    Overdraft/NSF fee demand letters & lawsuits continue

    CUNA Mutual has advised plaintiff attorneys continue to send demand letters and/or file lawsuits against credit unions alleging improper assessment of overdraft and/or Non-Sufficient Funds (NSF) fees.  Reports of these cases are occurring at an even faster rate than in the past.  Recent trends also show smaller credit unions are being targeted.  Plaintiff attorneys pursue potential clients through websites and social media.  They also search for Member Accounts Agreements and other documents on credit union websites. 

    Posted By Bridget Bowles read more
  • MLA interpretive rule amendment

    May
    04
    MLA interpretive rule amendment

    The Department of Defense (DOD) recently issued an interpretive rule that amends its December 14, 2017 Military Lending Act (MLA) interpretive rule to eliminate Question & Answer (Q&A) #2. 

    Posted By Bridget Bowles read more
  • HMDA data reporting thresholds final rule

    May
    04
    HMDA data reporting thresholds final rule

    The Consumer Financial Protection Bureau (CFPB) issued a final rule that increases the loan volume coverage thresholds for financial institutions reporting data under the Home Mortgage Disclosure Act (HMDA). 

    Posted By Bridget Bowles read more
  • BSA/AML exam manual updated

    May
    04
    BSA/AML exam manual updated

    The Federal Financial Institutions Examination Council (FFIEC) has updated several sections and related examination procedures in the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Exam Manual. 

    Posted By Bridget Bowles read more
  • NEW FFIEC calculation tools

    May
    04
    NEW FFIEC calculation tools

    The Federal Financial Institutions Examination Council has announced the availability of two new disclosure computational tools – Annual Percentage Rate (APR) and Annual Percentage Yield (APY).  The FFIEC member agencies collaborated to develop these tools, which will assist financial institutions in their efforts to comply with consumer protection laws and regulations.

    Posted By Bridget Bowles read more
  • New legal opinion available

    May
    04
    New legal opinion available

    Our HCUA Compliance department, on behalf of our member credit unions, recently requested a legal opinion regarding the following:

    Repossession Deficiency Notice Litigation (White Paper)

    Posted By Bridget Bowles read more
  • State-chartered credit union guidance

    Apr
    06
    State-chartered credit union guidance

    Kansas

    To prevent the spread of Coronavirus, non-essential State employees were directed to begin two weeks of administrative leave beginning on March 23, 2020.  Kansas Department of Credit Unions (KDCU) employees were included.  The leave was scheduled to last two weeks but is expected to be under continuous review. 

    Posted By Karen Baker read more
  • COVID-19 webinars for credit unions

    Mar
    10
    COVID-19 webinars for credit unions

    In the midst of the coronavirus (COVID-19) health situation, many credit unions and organizations are reviewing their business plans and emergency preparedness procedures. To help credit unions, there are two upcoming webinars you may want to attend.

    Posted By Susan Dyer read more

Pages