Compliance Watch

The Department of Treasury announced that OFAC has designated entities and individuals involved in attempts to evade sanctions imposed by the United States and its international partners on Russia.

The Department of Housing and Urban Development released new guidance to reinforce requirements that HUD-subsidized multifamily housing’s marketing and application processes be designed to be inclusive of persons of all races and national origins.

Comments on several items of relevance to credit unions are due in the next several weeks.

The CFPB announced it is invoking a largely unused legal provision to examine nonbank financial companies that pose risks to consumers.

Question: Our credit union operations are only in Oklahoma, but we have members in many other states. Is it appropriate to escheat all dormant funds to the state of Oklahoma? Answer: No. Funds should be escheated to the state in which the member resides.

The cybersecurity authorities of the United States, Australia, Canada, New Zealand, and the United Kingdom have released a joint Cybersecurity Advisory (CSA) to warn organizations that Russia’s invasion of Ukraine could expose organizations both within and beyond the region to increased malicious cyber activity from Russian state-sponsored cyber actors or Russian-aligned cybercrime groups.

CU PolicyPro has a variety of auditing tools to help you stay on top of changes and ensure your policies are up to date.

The Consumer Financial Protection Bureau on April 15 announced it has submitted its annual report to Congress, which summarizes activities of the Fair Debt Collection Practices Act (FDCPA).

This week, the Federal Housing Finance Agency issued the FHFA Strategic Plan: Fiscal Years 2022-2026, which provides a framework of the agency’s priorities for the coming years as the regulator of the Federal Home Loan Bank System and conservator of Fannie Mae and Freddie Mac (the enterprises).

The NCUA Board unanimously approved an interagency notice of proposed rulemaking that would amend the Uniform Rules of Practice and Procedure via notation vote.