Compliance Watch

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We have an executor that is disputing certain transactions for a deceased member under Reg E. Can they do that?

Question: With the passage of HR 1319, the American Rescue Plan of 2021, our members have started to receive their $1,400 (and most times more) stimulus payments. Can we offset against past-due or charged-off loans, or recoup deficiencies in a deposit account? Answer: Yes. These payments were not provided with the same protections against garnishment, attachment, seizure, or other legal process as were the $600 payments of late 2020.

InfoSight provides immediate access to current compliance topics​ that explain each issue (in laymen’s terms), how it affects credit unions​, and what credit unions need to do (i.e., the action steps needed)​.

Please join the Consumer Financial Protection Bureau, Federal Housing Finance Agency, Department of Housing and Urban Development, Department of Agriculture, and Department of Veterans Affairs on Monday, March 22...

NCUA is hosting a webinar on March 24 about potential areas of credit risk resulting from the COVID-19 pandemic.

The IRS reports that it began sending out direct deposits of Economic Impact Payments last week, and some recipients had their funds as early as Friday, March 12.

The Consumer Financial Protection Bureau announced it is rescinding its Jan. 24, 2020, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.”

Five federal regulatory agencies, including NCUA, requested public comment on 24 proposed Interagency Questions and Answers Regarding Private Flood Insurance.

Question: We’ve received an IRS subpoena for records. Are we entitled to reimbursement for our costs of producing those records?