CU PolicyPro Content Updates Are Published

CU PolicyPro has released its second update of 2023. This update includes a few regulatory changes such as the NCUA’s cyber incident notification requirements, NCUA’s changes to the subordinated debt rule, and the final effective date of the Federal Communications Commission Pallone-Thune Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act that amended the Telephone Consumer Protection Act (TCPA). Additional policy updates were made in relation to FASB’s elimination of accounting guidance for Troubled Debt Restructurings (TDRs) with the adoption of CECL.

To keep our policies evolving with current expectations, League InfoSight also reviews NCUA Supervisory Priorities each year and strengthens policies accordingly. For example, in this update we have added some additional content to the Real Estate Appraisals and Residential Real Estate Loans policies in light of the focus on Fair Lending, with an emphasis on appraisals. Additional changes were made to the Interest Rate Risk Management and Liquidity Risk Management policies.

In total, there were updates to 23 different policies/resources, including some new procedures for corporate account takeovers and the TCPA. There are beneficial updates in policies and procedures for every credit union. This content is designed to provide a solid jump start for credit unions to further edit and refine their own policy/procedure manual. Make sure you log in to CU PolicyPro and check out the revisions and new content today.