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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CFPB Issues Guidance on Credit Denials by Lenders Using Artificial Intelligence
The Consumer Financial Protection Bureau issued guidance about certain legal requirements that lenders must adhere to when using artificial intelligence and other complex models. -
Truth in Lending (Regulation Z) Annual Threshold Adjustments
The Consumer Financial Protection Bureau is issuing this final rule amending the official interpretations for Regulation Z, which implements the Truth in Lending Act (TILA). -
CFPB Report Finds College Tuition Payment Plans Can Put Student Borrowers at Risk
The Consumer Financial Protection Bureau issued a new report finding that students face risk when entering into agreements with colleges to spread the upfront cost of tuition into several, interest-free loan payments. -
NCUA Releases Q2 2023 State-Level Credit Union Data Report
The median growth rate in loans outstanding and membership at federally insured credit unions was positive over the year ending in the second quarter of 2023, while the... -
Question of the Week: Credit Report Permissible Purposes
Can a credit union use a credit report for a purpose other than initially declared? -
Registration is Still Open
NCUA’s Consumer Compliance Webinar on Sept. 27, Webinar on Using Technology to Promote Financial Inclusion -
Registration is Open
NCUA’s Consumer Compliance Webinar on Sept. 27, Webinar on Using Technology to Promote Financial Inclusion -
FinCEN Issues Alert on Prevalent Virtual Currency Investment Scam Commonly Known as “Pig Butchering”
The Financial Crimes Enforcement Network (FinCEN) issued an alert to highlight a prominent virtual currency investment scam known as “pig butchering.” -
Credit Union Assets, Lending, and Delinquencies Rise in 2nd Quarter
According to the latest financial performance data released by the National Credit Union Administration, total assets in federally insured credit unions increased $82 billion, or 3.8%, over the year ending in the second quarter of 2023, to $2.22 trillion. -
NCUA to Distribute $76 Million Under Corporate System Resolution Program
The National Credit Union Administration, in its role as liquidating agent, announced a $76 million distribution to paid-in capital shareholders of the former U.S. Central Corporate Credit Union.
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