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.
-
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. -
InfoSight Invites You to Fall Into Compliance
It’s the season to be cozy! And while an itchy sweater is bearable, being on the receiving end of overwhelming information and compliance updates is not exactly cozy. -
NCUA Releases Updates to its Automated Cybersecurity Evaluation Toolbox (ACET)
The National Credit Union Administration released an update of its Automated Cybersecurity Evaluation Toolbox or ACET. -
Agencies Announce Threshold for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency announced that the 2023 threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans will increase from $28,500 to $31,000. -
DEI and ACCESS Summit 2022
Join us Nov. 2-4 for the NCUA’S third DEI-focused summit. -
Mortgage borrowers can challenge inaccurate appraisals through the reconsideration of value process
Accurate appraisals are essential to the integrity of mortgage lending. Overvaluation can decrease affordability, make it harder to sell a home or refinance, and increase the risk of foreclosure. -
AFP survey finds businesses ‘actively shifting’ to ACH and other electronic B2B payments
There’s new evidence that businesses are rapidly abandoning checks in favor of ACH and other electronic payments. -
Updates made to NCUA’s Simplified CECL Tool
Last week, NCUA made updates to their recently launched CECL tool.
Subscribe
Sign up to the receive the weekly Compliance Watch newsletter email. Existing subscribers can manage their subscription.
Compliance Questions?
Cornerstone members have access to a wide variety of compliance assistance.
