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The Compass

  • 5 Myths About the New CDD Regulation

    Apr
    02
    5 Myths About the New CDD Regulation

    The requirement to identify and verify beneficial owner information for your legal entity accounts will be implemented prospectively – only for new accounts opened on or after May 11, 2018.  Read more regarding the myths about the new CDD regulation.

    Posted By Bridget Bowles read more
  • Federal Judge Strikes Down Part of NCUA Field of Membership Rule

    Apr
    02
    Federal Judge Strikes Down Part of NCUA Field of Membership Rule

    Last week, the federal district court for the District of Columbia upheld significant parts of the NCUA’s October 2016 field-of-membership rule and vacated two other parts.

    Posted By Bridget Bowles read more
  • FREE Webinar regarding new Automated Cybersecurity Examination Tool (ACET)

    Apr
    02
    FREE Webinar regarding new Automated Cybersecurity Examination Tool (ACET)

    CUNA and the Financial Services Information Sharing and Analysis Center (FS-ISAC) will host a webinar with NCUA examiners to explain the new Automated Cybersecurity Examination Tool. 

    Posted By Bridget Bowles read more
  • NCUA Loan Participation Throughout Life of the Loan

    Apr
    02
    NCUA Loan Participation Throughout Life of the Loan

    NCUA General Counsel Michael McKenna recently issued a legal opinion letter from the agency on loan participations. An inquiry was made about whether a loan participation must meet the requirements of NCUA’s loan participations regulation throughout the life of the transaction.

    Posted By Bridget Bowles read more
  • Compliance Outlook for Q1 and Q2 of 2018

    Mar
    02
    Compliance Outlook for Q1 and Q2 of 2018

    Overview of what’s ahead in the compliance world for 2018.  This covers the annual threshold updates, HMDA changes, Payday Alternative Loans, MLA, ACH Same-day processing and more!  

    Posted By Bridget Bowles read more
  • Amended 1098s are Due to Borrowers by March 15, 2018

    Mar
    02
    Amended 1098s are Due to Borrowers by March 15, 2018

    Credit unions must report mortgage insurance premiums (MIP) on member’s Form 1098. If 1098s have been issued without this information, the credit union must issue corrected 1098s by March 15, 2018. The IRS announcement follows. 

    Posted By Bridget Bowles read more
  • NMLS Reactivation Period Ends Soon

    Mar
    02
    NMLS Reactivation Period Ends Soon

    The Nationwide Multistate Licensing System has posted a reminder that the license and registration reactivation period for mortgage lending institutions and mortgage loan originators began on January 1 and ends February 28 at midnight ET. The reminder includes instructions for reactivation.

    Posted By Bridget Bowles read more
  • 2018 HMDA Getting it Right Guide Released

    Mar
    02
    2018 HMDA Getting it Right Guide Released

    It is essentially a compilation of revised Regulation C and Commentary and other HMDA resources that are also available individually. 

    Posted By Bridget Bowles read more
  • Compliance Workshop: Case Studies, CECL Training & More

    Feb
    22
    Compliance Workshop: Case Studies, CECL Training & More

    Our two-day Compliance Workshop will pack a punch in Wichita (April 10-11) and St. Louis (April 17-18)! Not only will you receive valuable knowledge, you’ll have the chance to apply what you learn in hands-on exercises.

    Posted By Nora Revie read more
  • PMI Extension

    Feb
    13
    PMI Extension

    Last week, the Congress passed a short term "continuing resolution" to fund the government through March 23, 2018. As part of this, the mortgage insurance premiums have been extended. Insurance premiums paid in 2017 will be deductible as homeowners file their 2017 tax returns.

    Posted By Bridget Bowles read more

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