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.
-
Treasury Acts to Counter Ransomware
The Department of the Treasury announced a set of actions focused on disrupting criminal networks and virtual currency exchanges responsible for laundering ransoms, encouraging improved cyber security across the private sector, and increasing incident and ransomware payment reporting to U.S. government agencies, including Treasury and law enforcement. -
OFAC Releases Advisory on Ransomware Payments
The Office of Foreign Assets Control has released an Updated Advisory on Potential Sanctions Risks for Facilitating Ransomware Payments. -
FinCEN SAR Guidance Regarding Child Exploitation
The Financial Crimes Enforcement Network has issued Notice FIN-2021-NTC3 to call attention to an increase in online child sexual exploitation (OCSE). -
NCUA Pilots Post-Examination Survey September – March
In a Letter to Federal Credit Unions, the NCUA announced it is piloting a new post-examination survey that will allow credit unions to provide timely feedback to the agency while helping to standardize the feedback process. -
Special Oklahoma State Credit Union Board Meeting
The Oklahoma State Credit Union Board has announced a special meeting on Tuesday, Sept. 21, 2021, at 2 p.m. -
The Vaccine Mandates: What They Mean for Your Credit Union
President Joe Biden issued a COVID-19 Action Plan, “Path out of the Pandemic,” which includes an effort to reduce the number of unvaccinated Americans by using regulatory powers and other actions to increase vaccination numbers. -
OFAC: Blocked Property Report Due Sept. 30
Earlier this year, the Office of Foreign Asset Control posted Guidance on Filing the Annual Report of Blocked Property and emailed a reminder that holders of blocked property under OFAC regulations must provide OFAC a comprehensive list of all blocked property held as of June 30 of the current year by Sept. 30 of each year. -
HMDA Filing Instructions Guides
The CFPB has announced that the Filing Instructions Guide for Home Mortgage Disclosure Act data collected in 2022 is now available. -
State Regulators Shut Down Four Fake Websites of a Credit Union and Three Banks
Michigan regulators issued a temporary cease-and-desist order Friday against an alleged fake website of a credit union, a bank, and two other financial institutions. -
Ten-Digit Dialing Coming in October for Some Areas
A 10-digit dialed telephone call requires entering both the three-digit area code and the seven-digit telephone number to complete the call, even if the area code is the same area code as your own.
Subscribe
Sign up to the receive the weekly Compliance Watch newsletter email. Existing subscribers can manage their subscription.
Compliance Questions?
Cornerstone members have access to a wide variety of compliance assistance.
