Under the proposal, lenders would be required to report extended demographic information and other details about small business credit applicants.
Use of the new instruments will be required for loans with note dates on or after Jan. 1, 2023.
Low-income-designated credit unions must register in the NCUA’s CyberGrants system and complete an online participation form.
The Aug. 11 document replaces previous guidance from 2005 and 2011.
Under the rule, a complex credit union that maintains a minimum net worth ratio and meets other criteria is eligible for the CCULR.
The rule explains timing requirements in light of recent legislation designating Juneteenth as a federal legal public holiday.
A credit union’s response to an inquiry will depend on specific information related to the economic impact payment received.
Credit unions can view a recording of the recent “Ask the Fed” webinar discussing the SCALE method.
The priorities address corruption, cybercrime, foreign and domestic terrorist financing, fraud, and more.
A recent alert from the Washington State DFI urges financial institutions to address the risks and opportunities climate change brings.
The resource, meant for informational purposes only, is available on the department’s website.
The new due date is Aug. 11.
Pending CFPB, NCUA, and FinCEN rules may have implications for credit unions.
Credit unions are also encouraged to note any other relevant information they believe the NCUA Board should consider.
Credit unions can take six steps now to drive down their risk of being victimized.
Credit unions may wish to issue scam alerts to help their members recognize fraudulent calls and avoid being victimized.
The recent supervisory letter outlines potential LIBOR exposure areas that examiners should review for material risk.
The changes relate to the growth in online commerce, which has increased the volume of these types of transactions.