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The Compass

  • New “Account Owner Deceased/Funds Payable to Estate” Legal Opinions Available

    Aug
    31
    New “Account Owner Deceased/Funds Payable to Estate” Legal Opinions Available

    When an account owner dies and there are no joint owners or payable on death beneficiaries, there are a number of probate procedures that can arise in order to facilitate legally disbursing the decedent’s funds to the proper payee. Our compliance team has opinions about this topic for both Kansas and Missouri credit unions.

    Posted By Paige Sigars read more
  • CFPB Raises HMDA HELOC Reporting Threshold

    Aug
    28
    CFPB Raises HMDA HELOC Reporting Threshold

    The Consumer Financial Protection Bureau issued a rule amending the Home Mortgage Disclosure Act that raises the Home Equity Line of Credit reporting threshold for 2018 and 2019 from 100 loans to 500 loans. The rule also includes some technical corrections and minor changes such as clarifying terms.

    Posted By Paige Sigars read more
  • DoD Re-affirms October 3 Effective Date for Credit Cards

    Aug
    25
    DoD Re-affirms October 3 Effective Date for Credit Cards

    Despite the Credit Union National Association’s ongoing advocacy efforts with the Department of Defense to extend the Military Lending Act’s effective date for credit card accounts, the DoD recently re-affirmed the October 3, 2017 effective date.

    Posted By Paige Sigars read more
  • New Final Rule Analyses Available

    Aug
    23
    New Final Rule Analyses Available

    The Credit Union National Association continually analyzes new regulations and develops summaries of key provisions.

    Posted By Paige Sigars read more
  • Compliance Conferences a Success!

    Jul
    31
    Compliance Conferences a Success!

    St. Louis and Wichita were the site for our Compliance Conferences this year, welcoming 66 attendees from Kansas, Missouri and Illinois.

    Posted By Susan Dyer read more
  • The CFPB’s Spring 2017 Rulemaking Agenda

    Jul
    28
    The CFPB’s Spring 2017 Rulemaking Agenda

    An important part of the Consumer Financial Protection Bureau’s statutory mandate from the Dodd-Frank Act is to make rules governing consumer finance markets more effective and to create new rules when warranted. Under the Regulatory Flexibility Act, federal agencies must publish regulatory agendas twice a year.

    Posted By Susan Dyer read more
  • Advertising Open-End Loans

    Jul
    27
    Advertising Open-End Loans

    To help credit unions navigate the complex advertising requirements of Reg Z's open-end loans, CUNA's blog post covers requirements for all advertisements, triggering terms requiring additional disclosures, misleading terms, promotional rates and fees, plus more.

    Posted By Susan Dyer read more
  • Rockstar Compliance Expert Wanted

    Jul
    10
    Rockstar Compliance Expert Wanted

    Do you love BSA? Like to say MLA? Can't get enough of CECL, TCPA, or CFPB? Most importantly, do you want to help improve people's lives? We are looking for an experienced compliance expert to manage our compliance services and department.

    Posted By Susan Dyer read more
  • Ask the Compliance Expert: Elder Financial Abuse

    Jun
    29
    Ask the Compliance Expert: Elder Financial Abuse

    Our Compliance department is fielding more and more calls regarding elder financial abuse. One in 10 seniors has suffered some form of abuse or neglect with verbal abuse being reported most frequently, followed by financial mistreatment. 

    Posted By Susan Dyer read more
  • Overregulation. Looming Deadlines. Confusing Policies. Compliance is so Fun!

    Jun
    29
    Overregulation. Looming Deadlines. Confusing Policies. Compliance is so Fun!

    Compliance challenges at your credit union can be the pits. There's overregulation, looming deadlines, confusing policies and your budget takes a hit too. Regulatory burden costs Kansas and Missouri credit unions millions each year. Our Compliance Conferences can help keep you "in the know."

    Posted By Susan Dyer read more

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