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The Compass

  • New FRB Publication – Consumer Compliance Supervision Bulletin

    Sep
    04
    New FRB Publication – Consumer Compliance Supervision Bulletin

    The Federal Reserve Board has announced the launch of the Consumer Compliance Supervision Bulletin, a new publication that will provide high-level summaries of pertinent supervisory issues. 

    Posted By Bridget Bowles read more
  • NCUA’s S. 2155 FAQs

    Sep
    04
    NCUA’s S. 2155 FAQs

    The National Credit Union Administration has published a set of FAQs regarding the impact of S. 2155. 

    Posted By Bridget Bowles read more
  • BSA CDD & Beneficial Ownership Compliance Exam Guidance

    Sep
    04
    BSA CDD & Beneficial Ownership Compliance Exam Guidance

    The National Credit Union Administration issued a Supervisory Letter to address credit union's compliance with the new Bank Secrecy Act Customer Due Diligence and Beneficial Ownership Rules which were effective May 11, 2018. 

    Posted By Bridget Bowles read more
  • New HMDA Interpretive/Procedural Rule for Small Reporters

    Sep
    04
    New HMDA Interpretive/Procedural Rule for Small Reporters

    The Bureau of Consumer Financial Protection issued an interpretive and procedural rule to implement and clarify recent Home Mortgage Disclosure Act changes that are intended to decrease the burden smaller depository institutions face in complying with HMDA

    Posted By Bridget Bowles read more
  • New Missouri Dormant/Inactive Account Fees & Notices Statute

    Sep
    04
    New Missouri Dormant/Inactive Account Fees & Notices Statute

    There is a new statute in Missouri effective August 28, 2018 regarding dormant/inactive account fees and notices. For your convenience, we developed a set of Dormant/Inactive & Unclaimed Account FAQs that include the new statutory requirements.

    Posted By Bridget Bowles read more
  • S. 2155 ID Retention Provision

    Aug
    02
    S. 2155 ID Retention Provision

    Section 213 allows credit unions to store driver’s license or personal ID card information electronically for the purpose of verifying the authenticity of the information, verifying the identity of the individual, or complying with other legal requirements. However, Section 213 appears to require deleting the image or copy after use. 

    Posted By Bridget Bowles read more
  • Compliance Tools

    Jul
    27
    Compliance Tools

    Just a reminder that as an HCUA member, you have access to tools specifically created for credit union compliance professionals. 

    Posted By Bridget Bowles read more
  • Legal Opinions: New Opinions and Index Available

    Jul
    26
    Legal Opinions: New Opinions and Index Available

    Our Compliance department, on behalf of our member credit unions, recently requested legal opinions regarding IRS levy procedures and Missouri secured loans (repossessions). These and other legal opinions we have collected are indexed on our website now. 

    Posted By Bridget Bowles read more
  • Compliance Calendar

    Jul
    24
    Compliance Calendar

    The InfoSight Compliance Calendar is kept up-to-date with regulatory changes. Included with the calendar are “Other Important Reminders and Information.” All member credit unions can access. Note: Your username and password for the HCUA website are required. 

    Posted By Bridget Bowles read more
  • New Legal Opinions Available

    Jul
    06
    New Legal Opinions Available

    HCUA Compliance, on behalf of our member credit unions, recently requested legal opinions regarding powers of attorney and returning loan notes marked paid. 

    Posted By Bridget Bowles read more

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