Compliance Watch
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Texas Court Invalidates DOL Overtime Exemption Salary Threshold Rule
A federal judge in Texas struck down the DOL's latest attempt to raise the minimum salary thresholds for the FLSA's white-collar overtime exemption, finding that the rule exceeded the agency’s statutory authority. Login Required.
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Question of the Week: Garnishment of Accounts
Credit unions may provide factual information about a garnishment but should not provide legal advice or determine a member's exemption rights. -
Updated Guidance: NCUA Reporting May Now Be Warranted Following the TruStage Cyber Incident
Credit unions should establish clear AI policies and educate boards on protecting confidential information, member privacy, and regulatory compliance when using public AI tools. -
Question of the Week: Possible OFAC Hit
OFAC regulations do not prohibit notifying a customer of a possible match, but financial institutions generally wait until the review is complete as a compliance best practice. -
Updated Guidance: NCUA Reporting May Now Be Warranted Following the TruStage Cyber Incident
The prolonged TruStage outage may trigger NCUA cyber incident reporting requirements for affected federally insured credit unions. -
Question of the Week: When Is a CTR Required?
Learn when your credit union is responsible for filing a Currency Transaction Report after a member withdraws more than $10,000 from a third-party ATM. -
Question of the Week: Hold Harmless Agreements
A "hold harmless agreement" helps protect a credit union from liability when voluntarily returning funds connected to a suspected fraudulent transaction. -
Vintage Series – CU PolicyPro (Marketing Series - Materials)
Outdated policies can create unnecessary risk, and CU PolicyPro helps credit unions keep their policies current, compliant, and up to date. -
FinCEN Issues Guidance on Information Sharing to Combat Fraud
FinCEN issues updated Section 314(b) guidance. -
Question of the Week: HMDA
A home improvement loan must be secured by a dwelling to be reportable under HMDA. -
Question of the Week: What is federal preemption, and can you provide an example of how it works?
Federal preemption allows federal law to override conflicting state laws for federal credit unions.
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