Compliance Watch
Featured Post
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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Working Together to Stop Fraud: Benefits of Section 314(b) Participation and the Cornerstone Fraud Council
Learn how Section 314(b) and the Cornerstone Fraud Council help credit unions share information, identify fraud threats, and strengthen fraud prevention efforts through collaboration. -
Question of the Week: Regulation E Dispute Resolution for Commercial Accounts
Learn which dispute resolution timeframes apply to commercial accounts and how credit union disclosures may affect those requirements. -
Clarifying Restrictions on Debt Cancellation Products for Texas State-Chartered Credit Unions
Learn about restrictions on debt cancellation products for Texas state-chartered credit unions and Cornerstone’s ongoing advocacy efforts. -
Question of the Week: HELOC Late Fee Restrictions
Learn why Regulation Z generally prohibits credit unions from increasing late fees on existing HELOCs, even with advance notice. -
Question of the Week: Freezing Loan Proceeds
Learn whether a credit union is obligated to freeze a vehicle loan when a member disputes mechanical issues with the dealership. -
Question of the Week: OFAC Scanning of Employees
Learn why conducting OFAC checks on new and existing employees is important for credit unions to maintain compliance and avoid potential legal penalties. -
Question of the Week: Nationwide Multistate Licensing System (NMLS) ID
Joining a credit union from a bank? Learn whether you can keep your existing NMLS number and what steps are required when changing employers. -
Question of the Week: Living Trust Transfers
Learn how the Garn-St. Germain Act applies when a member transfers a home into a living trust. -
Question of the Week: Members with No Address
Learn what address information credit unions can use to meet CIP requirements for members who live in rural areas without a traditional street address. -
Question of the Week: Sharing SARs with Auditors
Learn when independent auditors may review SAR filings and what confidentiality requirements credit unions should consider.
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