WASHINGTON (10/23/08)—Pressing credit union compliance issues are the subject of an Oct. 30 Credit Union National Association (CUNA) audio conference. Participants will receive an overview of recent compliance developments that will affect credit union operations and insights into why federal regulators are pursuing certain proposals. The 90-minute audio conference, scheduled to begin 2 p.m. ET, will be broken into two parts. Part I will cover the following areas:
* Conducting due diligence reviews of third party relationships; * Increase in share insurance coverage from $100,000 to $250,000; * The Housing and Economic Recovery Act amendments to the Servicemembers Civil Relief Act; * The Federal Housing Administration’s new Hope for Homeowners Program; * The Federal Reserve Board's payment of interest on depository institutions' required and excess reserve balances; * Compliance tips when considering adjustments in home equity lines of credit; AND * Reporting bankruptcies on credit reports.
Part II will provide a quick update on developing compliance issues, such as:
* The Housing and Economic Recovery Act's mortgage licensing and registration provisions; * Truth in Lending – The Federal Reserve Board’s expected final action on open-end changes to Reg Z; * FACT Act – an anticipated final action on accuracy and risk-based pricing regulations; as well as * Other legislative and regulatory developments.
CUNA compliance experts will answer questions at the conclusion of each part of the program on those or any other subjects. For more information or to register for the audio conference, use the resource link below.