Compliance Watch
Featured Post
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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FTC and CFPB Settlement to Require TransUnion to Pay $15 Million
The Federal Trade Commission and the Consumer Financial Protection Bureau obtained a settlement that will require credit reporting agency TransUnion LLC and a subsidiary to pay a total of $15 million... -
League InfoSight Highlight: Recent Content Updates: CU PolicyPro and RecoveryPro
The content in CU PolicyPro and RecoveryPro is reviewed regularly and updated as needed to keep current with changing laws and regulations. -
CURI Corner
Welcome our newest team member: Emma Mason -
Question of the Week: Annual Privacy Notice
Is our credit union required to send an annual privacy notice? -
NCUA Board Approves Final Rule on Financial Innovation
The National Credit Union Administration Board held its eighth open meeting of 2023... -
CFPB Issues Guidance to Halt Large Banks from Charging Illegal Junk Fees for Basic Customer Service
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers... -
Credit Union Assets, Lending, and Delinquencies Rise in 2nd Quarter
According to the latest financial performance data released today by the National Credit Union Administration, total assets in federally insured credit unions increased $82 billion... -
CFPB Exams Return $140 Million to Consumers Hit by Illegal Junk Fees in Banking, Auto Loans, and Remittances
The Consumer Financial Protection Bureau (CFPB) released a special edition of its Supervisory Highlights focused on the agency’s efforts to protect consumers from illegal junk fees. -
NCUA Awards $3.1 Million Through Expanded CDRLF Grants
The National Credit Union Administration awarded $3.1 million in Community Development Revolving Loan Fund grants to 142 low-income and minority depository institutions, the agency announced today. -
League InfoSight Highlight: CFPB Advisory Opinion – Fees for Basic Customer Service
I’d like to preface this article by saying that the CFPB’s most recent Advisory Opinion technically only applies to institutions they supervise - credit unions (and banks) over $10 billion in assets. However, when these Advisory Opinions are issued, it’s important for all credit unions to take note.
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