Compliance Watch
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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.
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MLA Database Update
The Department of Defense has published [86 FR 73263], a Federal Register notice of a scheduled change to the Military Lending Act Database. -
Annual Threshold Changes
NCUA issued a Regulatory Alert (21-RA-11) with the 2022 annual adjustments for three exemption thresholds under the Truth in Lending Act (TILA or Regulation Z) and the Consumer Leasing Act (CLA or Regulation M). -
Transitioning Away from LIBOR – White Paper
“Many financial institutions have credit products tied to the London Interbank Offered Rate (LIBOR) index..." -
Reminder: Diversity Self-Assessment due by Jan. 15
CUNA and NCUA encourage federally insured credit unions to complete the Voluntary Credit Union Diversity Self-Assessment by Jan. 15. -
Question of the Week
Question: How long after death can we pay debit cards and checks from a member’s account? Answer: UCC permits you to pay checks that were drawn up to or on the date of the member’s death for up to 10 days after that date, unless ordered to stop payment by a person claiming interest in the account. -
Reminder to Update Your Project ZIP Code Data
Here’s your friendly reminder to update your Project Zip Code software and upload your relevant member/constituent data. If you haven’t already done so, please make your updates by Jan. 14, 2022. -
Happy Holidays!
From the League InfoSight team, we wish you a wonderful holiday season and peace, joy, and prosperity in 2022! -
CFPB Updates EFT/Reg E FAQs
The CFPB recently posted an update of its Compliance Aid "Electronic Fund Transfers FAQs," including these topics... -
FinCEN Seeks Input on Modernizing AML/CFT Regime
FinCEN has issued a Request for Information seeking comments on ways to streamline, modernize, and update the anti-money laundering and countering the financing of terrorism (AML/CFT) regime of the United States. -
Complete NCUA’s Volunteer Credit Union Diversity Self-Assessment by Jan. 15
Federally insured credit unions are invited to complete the Voluntary Credit Union Diversity Self-Assessment before Jan. 15, 2022.
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