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.
-
Revised Interagency Q&As on Flood Insurance
Five federal agencies, including the Federal Reserve Board, Farm Credit Administration, FDIC, NCUA, and OCC, recently announced jointly issued Questions and Answers (Q&As) regarding flood insurance on federal flood insurance law and the agencies’ implementing regulations. -
National Illicit Finance Strategy for 2022
The Treasury Department issued the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing (2022 Strategy), which identifies measures to increase transparency in the U.S. financial system and strengthen the U.S. anti-money laundering/counter the financing of terrorism (AML/CFT) framework. -
VA Amends Regs on Fiduciary Activities
The Department of Veterans Affairs has published a final rule [87 FR 29671] amending its regulations that govern fiduciary activities. -
CFPB Wants Consistent Enforcement of Consumer Financial Protections
CFPB Director Rohit Chopra posted a CFPB Blog article to announce a new system for promoting consistent enforcement of consumer financial protections. -
Fed Board Amends Rates in Regs A and D
The Federal Reserve Board has published final rules in a recent Federal Register amending Regulation A (Extensions of Credit by Federal Reserve Banks) and Regulation D (Reserve Requirements of Depository Institutions) to increase certain interest rates. -
Oklahoma State Credit Union Board Meeting Canceled
The Oklahoma State Credit Union Board Meeting scheduled for May 17, 2022 has been canceled. -
Question of the Week
Question: Can a power of attorney be signed by a person other than the principal delegating the power? Answer: The answer is yes. A third party can sign in each of the three Cornerstone states. -
2022 League InfoSight User Survey
One of League InfoSight’s initiatives this year is to combine all our products (InfoSight, CU PolicyPro and RecoveryPro) into one platform so all users have one single-sign-on system to access all your most valued resources! -
Advisory Opinion on Coverage of Fair Lending Laws
The CFPB published an advisory opinion to affirm that the Equal Credit Opportunity Act (ECOA) bars lenders from discriminating against customers after they have received a loan, not just during the application process. -
FTC Shuts Down 'The Credit Game' As Scam
As announced in a recent FTC press release, a federal court has temporarily halted a bogus credit repair scheme known as The Credit Game for promoting a series of lies and deceptions.
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.
