Compliance Watch

Eat, dance, and be in compliance!

The existing CAMEL rating system is changing to CAMELS (Capital adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity to market risk).

The Consumer Financial Protection Bureau has launched a new initiative to focus on financial issues facing rural America.

Last week, President Biden issued an Executive Order on "Ensuring Responsible Development of Digital Assets." The key objectives established in the EO are...

CISA and the Federal Bureau of Investigation have released a joint Cybersecurity Advisory that details how Russian state-sponsored cyber actors accessed a network with misconfigured default multifactor authentication (MFA) protocols.

The CFPB has posted a blog article on how the Homeowner Assistance Fund (HAF) helps borrowers prevent foreclosure.

Question: If a payable-on-death beneficiary on a member's account dies before the member does, who does the money go to? Answer: That's a matter of state law.

Business Continuity Planning is the practice of asking “What if...?” questions, then creating plans and preparing to address them. RecoveryPro guides credit unions through the creation, maintenance, and testing of robust business continuity plans (BCPs).

This week the Financial Crimes Enforcement Network issued a FinCEN Alert to financial institutions, highlighting the potential for attempts to evade expansive sanctions and other measures implemented in connection with the Russian Federation’s ongoing, unprovoked invasion of Ukraine.

Beginning Saturday, March 19, the rules for NMLS passwords will be changed to provide more security.