Compliance Watch

In their recent press release, the National Credit Union Administration Board has issued a notice of proposed rulemaking rulemaking that would amend the agency’s Suspicious Activity Report (SAR) regulation.

Question: Can we charge a fee on our dormant accounts? Answer: It depends. There is no restriction on charging a fee for federally chartered credit unions in Arkansas, Oklahoma, or Texas.

We know our credit unions need up-to-date compliance information on a daily basis, and that's just what InfoSight provides!

The Financial Crimes Enforcement Network (FinCEN), with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration...

The National Credit Union Administration Board unanimously approved by notation vote a final rule that outlines and confirms the agency’s use of supervisory guidance.

The Financial Crimes Enforcement Network (FinCEN) published in the Jan. 21 Federal Register a notice and request for comments for the proposed renewal, without change, of its currently approved recordkeeping requirement for the...

The Financial Crimes Enforcement Network (FinCEN) has announced that Capital One, National Association, has been assessed a $390 million civil money penalty for engaging in willful and negligent violations of the Bank Secrecy Act and its implementing regulations.

On Dec. 29, 2020, the CFPB published in the Federal Register two final rules amending the Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) in Regulation Z.

Join us for the first VIRTUAL Oklahoma Governmental Affairs Conference, on March 9 from 2 to 4 p.m., and get involved in the credit union movement!

Question: Are we required to apply payments in a particular way? Answer: Generally speaking, how payments are applied is a matter of contract.