Compliance Watch

Credit unions eligible to apply for the National Credit Union Administration’s minority depository institutions mentoring grants now have until Nov. 14 to submit their applications through the agency’s CyberGrants portal.

With the passage of HB 2548 in the 2021 Legislative session, persons presented with a power of attorney (POA) will be required to accept them for use unless Oklahoma law provides grounds for refusal.

Question: How long do we keep chat logs with our members? Answer: For the same length of time as you would keep a written record of the same retention category.

CUPolicy Pro, InfoSight, and RecoveryPro wish you a Happy Halloween.

In February 2021, the U.S. Census Bureau released the 2020 Census Data tract boundaries.

The Consumer Financial Protection Bureau has issued a series of orders to collect information on the business practices of large technology companies operating payments systems in the United States.

Through a live webcast, the National Credit Union Administration Board held its ninth open meeting of 2021 and approved two items, as announced in a recent press release...

The Department of Defense Military Lending Act website has announced a planned systems upgrade scheduled for Jan. 20, 2022.

Eligible low-income credit unions (LICU) may accept 30-year subordinated debt investments from the U.S. Department of the Treasury’s Emergency Capital Investment Program (ECIP), as detailed in a letter to credit unions by the National Credit Union Administration.

Question: Are we required to provide copies of cancelled checks? Answer: Yes. UCC 4-406 states that if you provide a statement showing payments of items on the account, you either return or make available to the member the items paid or provide information in the statement of account sufficient to allow the member reasonably to identify the items paid.