Compliance Watch

On Jan. 13, the U.S. Supreme Court blocked the federal emergency rule issued by OSHA that would have required large employers to ensure their employees are either vaccinated against COVID-19 or test weekly.

Question: Can we reuse a credit report we’ve pulled previously for a member? Answer: No. When you request a credit report, you can only request it for certain reasons. In credit union world, that reason is either through express consent or implied consent in connection with a business transaction initiated by the consumer.

Are your advocacy skills up to par? Do you want to advance in government relations? Do your legislative coordinators need to sharpen their skills?

Oklahoma’s premier advocacy event of the year is the 2022 Oklahoma Governmental Affairs Conference, which takes place April 12–13 at Credit Union House in Oklahoma City.

The Model policies in CU PolicyPro are reviewed at least quarterly and updated as necessary to keep current with changing laws and regulations.

The Occupational Safety and Health Administration is gratified the U.S. Court of Appeals for the Sixth Circuit dissolved the Fifth Circuit’s stay of the Vaccination and Testing Emergency Temporary Standard.

If your credit union or any of its mortgage loan originators missed the Dec. 31, 2021, deadline for registration renewal, the NMLA reactivation period is now open and will end at midnight on Feb. 28, 2022.

FinCEN has issued a Request for Information seeking comments on ways to streamline, modernize, and update the BSA regulations and guidance. RFI Comments are due Feb. 14, 2022.

Following the NCUA Board’s approval of a final rule that simplifies the risk-based capital requirements for eligible, complex credit unions, and as part of its Call Report Modernization Initiative, the NCUA has modified the Call Report, Form 5300, beginning with the March 2022 reporting cycle.

To allow federal credit unions more time to complete and submit the voluntary Credit Union Diversity Self-Assessment, the National Credit Union Administration has extended the deadline from Jan. 15 to Jan. 31, 2022.