Compliance Watch

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.

The National Credit Union Administration released an update of its Automated Cybersecurity Evaluation Toolbox or ACET.

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.

Join us Nov. 2-4 for the NCUA’S third DEI-focused summit.

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.

There’s new evidence that businesses are rapidly abandoning checks in favor of ACH and other electronic payments.

Last week, NCUA made updates to their recently launched CECL tool.

Overwhelming compliance information and regulations got you fumbling?

Question: We have some really old member agreements and applications for membership. Do we really have to preserve these permanently?

Question: Can we require a member to file a police report to process a Regulation E dispute? Answer: No.