Compliance Watch

A few credit unions have recently inquired about annual payments on closed-end home equity loans.

How do I properly complete Part I on the FinCEN CTR for withdrawals from a joint account? What amounts do we show in Item 22 for each Part I?

With so much uncertainty surrounding the Consumer Financial Protection Bureau, where does that leave us with certain rules that have been finalized, but may be either held up in litigation or subject to further legislative action?

I heard that the Treasury Department announced the suspension of the enforcement of the Corporate Transparency Act (CTA). and its Beneficial Owner Information (BOI) requirements. Is this true?

As many of you travel to GAC next week, please remember the impact you, we, and our industry have on so many communities. Credit unions are not just a building in the community, they are the community.

Can you direct me to guidance on the Financial Institution Data Match programs by state?

The Consumer Compliance Outlook, published by the Federal Reserve System, recently shared an article focusing on the top-issued fair lending matters requiring immediate attention (MRIAs) and matters requiring attention (MRAs).

I heard that the Beneficial Ownership Information (BOI) requirements under the Currency Transparency Act were put on hold. What is the status of the BOI Program now?

In the past, we have provided links to top news articles from the week, linking those stories directly from regulatory agencies. Although a ton is happening in the industry...

When a Receiving Depository Financial Institution (RDFI) receives an ACH entry, can they rely solely on the account number?