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 Posts Small Business Lending Rule Compliance Guide
The Consumer Financial Protection Bureau issued a 135-page Small Entity Compliance Guide for the Small Business Lending Rule... -
NCUA: Seeking Public Input on Climate-Related Financial Risk
The NCUA is seeking public input on current and future climate and natural disaster risks to federally insured credit unions, related entities, their members, and the National Credit Union Share Insurance Fund. -
NCUA Chairman Todd M. Harper Testifies Before the U.S. House Committee on Financial Services
NCUA Chairman Harper testified before the House Committee on Financial Services. -
CFPB Blog: Building Resilience and Durability into Mortgage Rules
Since 2021, the CFPB has been reviewing a number of its rules and guidance documents, including those published by predecessor agencies like the Federal Reserve Board of Governors and the Federal Trade Commission. -
When is the effective date for the CFPB Small Business Lending Rule?
As we reported a few weeks ago, the CFPB recently issued the final Small Business Lending Rule. The effective date for this rule depends on the amount of covered (small business) originations conducted by the credit union. -
Story TimeA Tale of Two Compliance Departments
Once upon a time, there were two credit unions, ABC Credit Union and XYZ Credit Union. Both credit unions were of similar size and had compliance departments committed to ensuring that they were adhering to all relevant laws and regulations. -
CFPB Issues Guidance to Rein in Creation of Fake Accounts to Harvest Fees
The Consumer Financial Protection Bureau issued a new circular affirming that a bank may violate federal law if it unilaterally reopens a deposit account to process transactions after a consumer has already closed it. -
NACHA: Request for Comment and Information: ACH Risk Management Topics
NACHA is requesting industry comments on nine proposals to amend the NACHA rules. -
The 1st Q 2023 Compliance Video is Now Available
In the latest video segment, Michael Christians takes an in-depth look at the CFPB’s Junk Fees Special Edition Supervisory Highlight, the CFPB’s Final Rule on Small Business Lending Data Collection, and the CFPB’s Policy Statement on Abusive Acts and Practices. -
League InfoSight 20 Year Anniversary – Lessons We’ve Learned
Over the past two decades, League InfoSight has become a trusted resource for credit unions seeking guidance on regulatory compliance, operational issues, and industry best practices. Within that time, the number and complexity of laws and regulations has increased dramatically, and our products and content have been developed to keep pace with credit unions’ changing needs.
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