Compliance News
FinCEN Issues Advisory on Elder Financial Exploitation
The advisory highlights behavioral and financial red flags to aid financial institutions with identifying, preventing, and reporting suspected EFE.
Category: Compliance News
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Compliance News
Oregon Issues Notice of $600 One-Time Assistance Payments
Credit unions should make system preparations to receive OTAPs with new company entry descriptions.
Compliance News
Key Takeaways from Oregon Rulemaking on Credit Union Member Business Loans
A summary of the Oregon rules and definitions on commercial and member business loans that went into effect on June 1, 2022.
Compliance News
CFPB Advisory Opinion on Coverage of Fair Lending Laws
The Bureau confirmed the Equal Credit Opportunity Act bars lenders from discriminating against customers after they receive a loan.
Compliance News
NCUA Clarifies Use of Distributed Ledger Technologies for FCUs
The letter covers certain expectations for credit unions contemplating the use of new or emerging DLTs.
Compliance News
Revised Interagency Q&As on Flood Insurance
The Q&As reflect significant changes to the flood insurance requirements made by federal law in recent years.
Compliance News
Federal Trade Commission Shuts Down ‘The Credit Game’ As Scam
The scammers charged consumers thousands of dollars for credit repair services of little to no value and told consumers to “invest” their COVID-19 benefits on their unlawful services.
Compliance News
HUD Releases Guidance on Subsidized Multifamily Housing
The guidance assists property owners in understanding and implementing more inclusive practices.
Compliance News
CFPB Invokes Authority to Examine Non-Bank Financial Companies
The bureau believes that utilizing this dormant authority will help protect consumers and level the playing field between banks and nonbanks.
Compliance News
Federal Housing Administration Provides 40-Year Mortgage Modification Option
The option allows servicers to assist struggling borrowers who are behind on mortgage payments due to COVID-19.
Compliance News
CFPB Proposed Rule on Adverse Information in Consumer Reports of Human Trafficking Victims
The proposed rule will apply to all CRAs, including specialty CRAs focused on areas like employment screening, tenant screening, check and bank screening, and more.
Compliance News
CISA Releases ‘Secure Tomorrow Series’ Toolkit
The toolkit guides businesses on effective strategies for securing their critical infrastructure systems.
Compliance News
An Action Plan for Fighting Bias in Appraisals
The plan provides a blueprint for how all Americans can benefit fairly from the equity built through homeownership.
Compliance News
Increase in Prime Interest Rate and What it Means for Variable Rate Products
The change may impact what credit unions charge on their variable rate loans and lines of credit, and could trigger additional disclosures.
Compliance News
10 Ways NWCUA’s Check Deposit Notice Generator and Account Insurance Estimator Helps Your Credit Union
Watch the recorded product tours in InfoSight to learn more about these valuable tools!
Compliance News
FinCEN Issues Alert on Potential Russian Sanctions Evasion Efforts
The alert provides red-flag indicators that credit unions should be on the lookout for and discusses ransomware attacks and other cybercrimes.
Compliance News
Washington DFI on How Ukraine Invasion May Impact Financial Services Sector
The alert provides insight on sanctions, virtual currency, and cybersecurity.
Compliance News
NCUA Outlines ECOA Nondiscrimination Requirements
The Letter to Credit Unions also provides insight into potential areas of fair lending risk.