Compliance Watch

The CFPB recently issued guidance on overdraft protection programs and associated risks. One of the areas of focus concerns representment fee practices.

The Federal Financial Institutions Examination Council, on behalf of its members, released updates to the following sections of the Bank Secrecy Act/Anti-Money Laundering Examination Manual.

The Consumer Financial Protection Bureau filed a lawsuit in federal court against auto-loan servicer USASF Servicing for a host of illegal practices that harmed individuals with auto loans.

Six federal regulatory agencies requested public comment on a proposed rule designed to ensure the credibility and integrity of models used in real estate valuations.

The NCUA Board approved proposed changes to the interpretive ruling and policy statement on the agency’s Minority Depository Institution Preservation Program.

The NCUA Board approved the issuance of a notice and request for comment about adjustments to the methodology the Office of the Chief Financial Officer uses to determine how it apportions operating fees charged to federal credit unions.

Registration is still open for the August 18 Outreach event. Meet recruiters from the NCUA to learn about nationwide opportunities.

The Compliance Team possesses in-depth knowledge of lending regulations, and the Lending Team understands the credit union’s strategic objectives as they relate to the various lending products.

Our credit union is considering using GPS trackers to help locate collateral when collection action needs to be taken and starter interruption devices that would disable a vehicle when the loan becomes delinquent. Is there anything we should be aware of?

If our credit union did not hold any blocked property pursuant to OFAC regulations, do we still need to file an annual report?