Compliance Watch

Revised guidance on effective authentication and access risk management principles and practices related to digital banking services and information systems was issued this week by state and federal financial institution regulators through the Federal Financial Institutions Examination Council (FFIEC).

Question: Does the federal Fair Debt Collections Practices Act (FDCPA) apply to credit unions collecting on their own debts? Answer: Generally, no...

Up-to-date policies are all the rage with examiners, but laws and regulations seem to change more quickly than the latest fashion trends!

The Consumer Financial Protection Bureau's “Payday, Vehicle Title, and Certain High-Cost Installment Loans” rule has been held up by a federal court case in Texas.

As announced in an NCUA Press Release, federally insured, low-income credit unions seeking a Community Development Financial Institution certification can apply for the National Credit Union Administration’s streamlined qualification process between Sept. 12 and Oct. 15.

The IRS recently issued a press release announcing a new feature allowing any family receiving monthly Child Tax Credit payments to quickly and easily update their mailing address using the Child Tax Credit Update Portal, found exclusively on IRS.gov.

The CFPB has published [86 FR 46953] new technical specifications for certain credit card issuers to submit credit card agreements and data to the Bureau under the Truth in Lending Act and the CARD Act.

The Department of the Treasury's Bureau of the Fiscal Service has published a proposed rule [85 FR 46631] in a recent Federal Register that would amend its regulations, Federal Government Participation in the Automated Clearing House (31 CFR part 210) to address...

Cornerstone League Regulatory and Compliance Counsel Suzanne Yashewski provides questions and answers for credit unions in Texas about the new laws regarding guns and the signs for prohibiting guns in their establishments.

Question: I hear Truth-in-Savings referred to as Regulation DD (12 CFR Part 1030). Should I be referencing this section with regard to our compliance obligations? Answer: No. According to Regulation DD itself, coverage applies “depository institutions, EXCEPT for credit unions.”