Compliance Watch

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

The Consumer Financial Protection Bureau published an issue spotlight on digital payment apps heavily used by consumers and businesses.

It’s no surprise that credit unions are trying to transition to more automated processes and electronic transactions. It saves employee time and saves the credit union money and, on the surface, provides consistent results. So, what could possibly be the issue?

Final edition of this three-part series.

We have a member interested in opening a deposit account, but they are refusing to provide their address saying they participate in an Address Confidentiality Program (ACP). I thought we needed a physical address for Bank Secrecy Act (BSA) Customer Identification (CIP) purposes?

On June 8, the NCUA will host “Discovering MDIs: The Key to Building a Strong and Inclusive Financial System,” to discuss how MDI credit unions focus on helping underserved minority communities find affordable financial services and promote greater financial security.

The Consumer Financial Protection Bureau has ordered installment lender OneMain Financial to pay $20 million in redress and penalties for failing to refund interest charged to 25,000 customers who cancelled purchases within a purported “full refund period” and for deceiving borrowers about needing to purchase add-on products to receive a loan.

Board Member Rodney E. Hood spoke at the Women in Housing and Finance Symposium in Washington, D.C., on May 25, 2023.

Older adults, most of whom have health insurance coverage, are among the millions of Americans who experience problems with reporting and collection of inaccurate medical bills.

Effective marketing is critical to any credit union’s success. From website and home banking content to social media posts, email marketing, lobby boards, and statement stuffers, the marketing team is responsible for reaching existing and potential members through engaging information about the credit union’s products and services. The team also ensures that marketing messages are compliant with federal and state advertising laws and regulations.