Compliance Watch

The Federal Housing Finance Agency has announced that it is providing the results of the 2020 and 2021 annual stress tests Fannie Mae and Freddie Mac were required to conduct under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

In a recent Letter to Credit Unions(21-CU-08), the NCUA provides updates on technology efforts and outlines the implementation of key software tools.

Over the next few weeks, leading to the effective date of Sept. 1 for many bills, we will be publishing summaries in the newsletter from the last legislative session.

Cornerstone League, Oklahoma Credit Union Association, and Texas Credit Union Association are pleased to present the 2021 Legislative Summaries for this year’s state sessions.

Dallas County Judge Clay Jenkins issued an emergency mask order today following a judge's ruling that local leaders could require masks as a measure to curb the spread of COVID-19.

Question: We have a member that has requested us to wire funds in a way that we find suspicious. Do we have to send the wire? Answer: No. If a member is asking you to conduct a transaction that you feel is a violation of your member agreement or would be a violation of state/federal law or does not seem to have a lawful purpose, you may refuse to send that wire.

Don’t let business continuity planning scare you! RecoveryPro provides an organized approach to developing your business continuity plan.

In its recent letter to credit unions, #21-CU-07 and corresponding FAQ, NCUA offers guidance related to the capitalization of unpaid interest in connection with loan workouts or modifications.

The Federal Financial Institutions Examination Council, on behalf of its members, recently issued guidance that provides financial institutions with examples of effective authentication and access risk management principles and practices for customers, employees, and third parties accessing digital banking services and information systems.

The CFPB has posted an article on its Blog regarding higher education grants for college students impacted by the COVID-19 pandemic.