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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Question of the Week: Counterfeit U.S. Passport Cards
Our credit union was recently presented with a counterfeit U.S. Passport Card. Is there a resource that outlines the security features of a legitimate U.S. Passport Card? -
League InfoSight Highlight: Succession Planning: The Newest Proposed Rule
The NCUA approved another proposed rule on succession planning. They also issued a proposed rule back in February of 2022 to require federal credit unions to establish a process for succession planning for key positions. -
Question of the Week: Business Accounts Reporting BOI
Our business account owners are asking questions about their new Beneficial Ownership Information (BOI) reporting requirements. Is there a resource we can direct them to? -
League InfoSight Highlight: New CFPB Registry Applies to CUSOs and Privately Insured Credit Unions
The CFPB’s final rule on nonbank covered entities, effective Sept. 16, 2024 requires these entities to report certain information through a CFPB-established registry. -
Question of the Week: Small Business Loan Data Collection Effective Date
Did the Consumer Financial Protection Bureau (CFPB) extend the Small Business Lending Rule effective dates? -
League InfoSight Highlight: Cyber Incidents: Ransomware and Data Breaches
As a reminder, the Department of Labor passed a final rule amending the Fair Labor Standards Act (FLSA) overtime exemption analysis for "white collar" or "EAP" exemptions and the "highly compensated employee" exemption. -
Question of the Week: CTR and Name Fields
How do I ensure these names are entered properly on a Currency Transaction Report (CTR)? -
Question of the Week: Encrypted Email Fraud
Is encrypted email fraud common? -
League InfoSight Highlight: Quality Control Standards for AVMs
In June 2023, comments were invited on a proposed rule related to quality control standards for the use of automated valuation models and almost a year later, the final rule has been issued. The final rule is largely unchanged from the proposed rule. -
Question of the Week: Share Insurance Coverage on POD Accounts
How do I calculate share insurance coverage on Payable on Death (POD) accounts?
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