Compliance Watch
Featured Post
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 issues guidance to help banks avoid charging illegal junk fees on deposit accounts
The Consumer Financial Protection Bureau issued guidance about two junk fee practices that are likely unfair and unlawful under existing law. -
NCUA releases 2021 Credit Union Diversity Self-Assessment results
The National Credit Union Administration released the results of the 2021 Credit Union Diversity Self-Assessment (CUDSA). -
NCUA board announces 2023 meeting schedule
The National Credit Union Administration Board has released its monthly meeting schedule for 2023. -
Question of the Week
Question: Is there a limit on what an FCU can lend to an official without approval from the board? Answer: Yes. 12 CFR 701.21(d) limits an FCU to $20,000 without approval... -
Spooky season is upon us, and InfoSight is wishing you a frightfully fun Halloween weekend
Keeping your credit union compliant doesn’t need to be as complex and time-consuming as brewing up potions. -
NEW content: person-to-person (P2P) transactions
With the increased popularity of person-to-person (P2P) transactions, a new topic, Person-to-Person (P2P) Transactions, was added to the ACH/Electronic Payments channel. -
401(k) limit increases to $22,500 for 2023, IRA limit rises to $6,500
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. -
CFPB takes action to address junk data in credit reports
The Consumer Financial Protection Bureau issued guidance to consumer reporting companies about their obligation to screen for and eliminate obviously false “junk data” from consumers’ credit reports. -
NCUA board approves risk appetite statement; briefed on Central Liquidity Facility and cybersecurity
The National Credit Union Administration Board held its ninth open meeting—and second in person—of 2022 and approved the agency’s Enterprise Risk Appetite Statement... -
Question of the Week
Question: Can we change a non-variable rate credit card to a variable rate card? Answer: Yes, but you have to send a change in terms 45 days before the change.
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