Compliance Watch
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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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March 24 NCUA Webinar Will Cover COVID-19 Credit Risk Issues
NCUA is hosting a webinar on March 24 about potential areas of credit risk resulting from the COVID-19 pandemic. -
EIP Direct Deposits Being Received
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. -
CFPB Rescinds Abusiveness Policy Statement
The Consumer Financial Protection Bureau announced it is rescinding its Jan. 24, 2020, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.” -
Agencies Request Public Comment Regarding Private Flood Insurance
Five federal regulatory agencies, including NCUA, requested public comment on 24 proposed Interagency Questions and Answers Regarding Private Flood Insurance. -
Question of the Week
Question: We’ve received an IRS subpoena for records. Are we entitled to reimbursement for our costs of producing those records? -
CU PolicyPro’s New Look!
CU PolicyPro can help your credit union manage today’s ongoing compliance and operational challenges thanks to its more than 230 detailed model policies. -
NCUA Publishes Proposal and ANPR
The National Credit Union Administration has published two rulemaking documents for comment in a recent Federal Register. -
SBA Issues Interim Final Rule to Make Revisions to Calculation and Eligibility for PPP Loans
In March 3, 2021, the Small Business Administration issued a new Paycheck Protection Program interim final rule to allow individuals who file an IRS Form 1040, Schedule C... -
CFPB Interpretive Rule on Prohibition Against Sex Discrimination
The CFPB has announced it has issued an interpretive rule clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act and Regulation B includes... -
FinCEN Issues Notice on Trade in Antiquities and Art
FinCEN has issued Notice FIN-2021-NTC2 to inform financial institutions about...
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