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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Fed Extends PPP Exception Under Reg O
The Federal Reserve Board has announced the second extension of a rule to bolster the effectiveness of the SBA's Paycheck Protection Program. -
Another PPP Procedural Notice from SBA
The Small Business Administration has issued Procedural Notice 5000-20092, "Revised SBA Paycheck Protection Platform Procedures for Addressing Hold Codes on First Draw PPP Loans and Compliance Check Error Messages on First Draw PPP Loans and Second Draw PPP Loans." -
SBA PPP Progress Report
The SBA recently reported it had reached a major milestone with its latest round of approval of $103B of Paycheck Protection Program funds to more than 1.4 million small businesses. -
Enterprises Extend Loan Origination Flexibilities
The Federal Housing Finance Agency announced recently that Fannie Mae and Freddie Mac will extend several loan origination flexibilities another month, through March 31, 2021. -
Engage with the global credit union movement!
The Worldwide Foundation of Credit Unions is offering distinct engagement opportunities that share stories... -
Question of the Week
Question: If there are payable-on-death (POD) beneficiaries, and an estate representative comes in with paperwork wanting funds in the account, do we provide them? -
Oklahoma State Credit Union Board Meeting Cancelled
The Oklahoma State Credit Union Board (OSCUB) meeting scheduled for Feb. 16 has been cancelled. -
2021 RISK Alerts from CUNA Mutual Group
Be sure you don’t miss a RISK Alert! Customize the Recently Updated box on your InfoSight dashboard to include notifications of new RISK Alerts! -
FinCEN Advisory on COVID-19 Fraud
FinCEN Advisory FIN-2021-A001 on "COVID-19 Health Insurance- and Health Care-Related Fraud" was issued with descriptions of COVID-19-related fraud involving health care benefit programs and health insurance, associated financial red flag indicators, select case studies, and information on reporting suspicious activity. -
Fate of QM and Debt Collections Rules Uncertain
In a recent letter to the CFPB's Division of Research, Markets, and Regulations (RMR), CFPB Acting Director David Uejio directed the Division to "explore options for preserving the status quo with respect to QM and debt collection rules."
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