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Washington
iCompBlogi roundup NCUA actions Reg Z changes updated
WASHINGTON (5/7/12)--News on National Credit Union Administration actions, the latest on Regulation Z requirements, and updates on recent Consumer Financial Protection Bureau (CFPB) clarifications and pending CFPB projects are all featured in the April edition of the Credit Union National Association's CompBlog Monthly Wrap Up.

Recent regulatory news from Congress and a report from the NCUA's national staff conference in Orlando are revealed in the wrap up. The CUNA compliance wrap up also provides a new list of frequently asked credit union questions.

Among the items addressed in this month's list are:

  • Whether adverse action notices are required when a credit union denies a member's request to open an additional share account;
  • If credit unions are allowed to use funds collected from loan originations to pay for employee qualified profit sharing, 401(k), and employee stock ownership plans; and
  • Whether the Financial Crime Enforcement Network's new rule on non-bank mortgage lenders addresses credit union service organizations.
The March update also highlights the effective dates of pending changes to Regulation D, remittance changes, interest rate risk management policies, and the Bank Secrecy Act.

For more of CUNA CompBlog's monthly wrap up, and other compliance gems, use the resource links.


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