WASHINGTON (5/13/10)--The Credit Union National Association’s (CUNA) Center for Professional Development (CPD) has scheduled programs to help credit unions that are being bombarded with upcoming compliance deadlines to better understand regulator expectations. The National Credit Union Administration’s (NCUA) examination and insurance director, Melinda Love, will discuss agency expectations and concerns related to real estate modification options during a May 18 CUNA webinar, entitled “Regulatory & Credit Union Perspectives of Loan Modifications.” A number of other webinars and audio conferences have also been scheduled:
* May 25 “Regulation Z-–July 1 Open-end Credit Provisions” (webinar): Experts will review what steps credit unions need to take before the Truth in Lending revisions become effective-–and emphasize that compliance can’t simply be left to data processors and forms providers. * May 27 “Unlawful Internet Gambling–-Complying with the New Rule” (audio-conference): After postponing at the last minute the original December 2009 effective date, the Federal Reserve and the U.S. Treasury have recently confirmed that they are going forward with implementing their rules on June 1. CUNA’s program will review what changes are needed in policies, which members need special attention, automated clearinghouse (ACH) and wire transfer risks, and dealing with card processors. * June 24 “SAFE Act and Other Pressing Compliance Issues” (audio conference): SAFE will require new registration by all credit union staff involved in originating mortgage loans. While regulations are likely to be published by June, it’s uncertain when the actual registration procedures will be finalized. NCUA attorney Regina Metz will join CUNA’s compliance attorneys, and if all the SAFE details are finalized, the whole program will be turned over to discussing SAFE compliance.
Another compliance program that credit unions may want to attend is a free webinar offered by the Federal Reserve on May 20 when it will discuss a variety of compliance issues. During that webinar, a senior Fed compliance manager and a Fed examiner will cover the “top 10 things found in well-run compliance programs, the top 10 issues identified on recent examinations, and the top 10 things to know about consumer complaints.” However, the Fed release does not provide any details of which laws and regulations will actually be addressed. To register for the CUNA and Fed programs, use the resource links.