Compliance Watch

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For loans, it would be an added expense to run OFAC during the loan application process. If we pay to run OFAC during the loan application process, we are running OFAC twice, since we also run it during the membership opening process. If we did not run it during the loan application process, then OFAC would still be run on all non-member account owners and borrowers prior to opening the share account and posting the loan. Is it required to run an OFAC check on every loan application?

As we step into the new year, it’s time to embrace new beginnings and opportunities. Happy New Year and welcome to 2026! This year brings exciting possibilities, and it's important to be ready for anything that may come your way.

In response to Executive Order #14192 – Unleashing Prosperity Through Deregulation, in 2025, the National Credit Union Administration (NCUA) began a project to change and/or remove obsolete, duplicative, and overly burdensome regulations.

In follow-up to our Industry News published on InfoSight360 on Dec. 31, 2025, the Consumer Financial Protection Bureau has released the final two regulatory threshold adjustments for 2026.

As a clarification to the last question of last year, is it possible for a trust to permit an agent over Power of Attorney (POA) to exercise trustee powers if that POA gives the agent power to handle financial affairs for the trustee as an individual?

We have an agent under power of attorney for a member who wants to transact on a trust that the member is trustee for. Does that POA allow that agent to act as trustee?

On Thursday, Dec. 11, the National Credit Union Administration (NCUA) issued several proposed rules.

As the holiday season arrives, it brings with it a welcome pause from the rush of everyday life—a chance to reconnect, reflect, and appreciate the people and moments that truly matter.

Please clarify whether the new Vehicle Loan Tax Deduction applies to the interest on a 2025 refinanced loan that originated in 2023? Or does the original loan need to be originated in 2025 for the refinance to qualify?