Compliance Watch

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

With the end of the national emergency, the NCUA reviewed all COVID-related supervisory guidance and identified what is no longer applicable or necessary.

The NCUA and CFPB have both been providing resources to consumers about establishing “trusted contacts” and encouraging outreach to their financial institution to help prevent fraud.

Looking at compliance through the eyes of a child offers an opportunity to rethink your processes and help keep staff engaged and motivated to meet the credit union’s compliance goals.

Our credit union utilizes the Office of Foreign Assets Control (OFAC) website to manually search Sanctions Lists. I heard OFAC is retiring its File Transfer Protocol (FTP) server. Does this mean we will have to hire an outside vendor to perform this service?

As a result of the California Reinvestment Coalition’s 2019 successful lawsuit, the Consumer Financial Protection Bureau was forced to implement dormant portions of the 2010 Dodd-The CFPB finally released rules on March 31, 2023.

Registration is now open for the National Credit Union Administration’s fourth summit focused on diversity, equity, and inclusion.

For federally insured credit unions, median asset growth and growth in shares and deposits declined slightly over the year ending in the first quarter of 2023.

The Consumer Financial Protection Bureau released its annual report on the top financial concerns facing military families.

Phase 1 is underway!