League InfoSight Highlight: Now Available: 2024 3rd Quarter Compliance Update Video

By Mary Ann Koelzer, Senior Technology Products Manager, League InfoSight

As regulations evolve and industry standards shift, it is critical for credit unions to stay informed to ensure compliance throughout the organization. InfoSight has recently released the 2024 3rd Quarter Compliance Update Video, presented by Michael Christians, regulatory compliance counsel at Michael Christians Consulting, LLC.

Whether you're directly involved in compliance efforts or simply want to stay informed, the quarterly update videos are designed to equip you with the knowledge you need. The videos provide an excellent resource for your board of directors and staff, offering a comprehensive overview of the current and upcoming regulatory landscape.

In the video, Christians details the following topics:

• Deposit Accounts
  
  
  • CFPB’s circular on Regulation E overdraft opt-in practices.
    
    
  • NCUA’s final rule that simplifies share insurance coverage for Trust accounts, which becomes effective Dec. 1, 2026.
    
• Lending
  
  
  • Interagency final guidance on Reconsideration of Value that became effective July 26, 2024
    • Note: CU PolicyPro has a procedure related to Reconsideration of Value – Model 7302.10
    • GSE/Secondary Market Requirements for ROVs.
• Credit Union Operations
  • NCUA re-proposes Rules on Succession Planning requirements.
  • FinCEN issues proposed AML/CFT Rule.

The quarterly update videos can be found on InfoSight in the Compliance Videos area.