InfoSight eNewsletter
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NCUA releases 2021 Credit Union Diversity Self-Assessment results
The National Credit Union Administration released the results of the 2021 Credit Union Diversity Self-Assessment (CUDSA). The NCUA administers the voluntary CUDSA as a tool to help federally insured credit unions assess, guide, and monitor their diversity, equity, and inclusion efforts and compare their progress with peer organizations.
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Protecting Servicemembers from Abuses of the Military Allotment System
For years, the CFPB has warned about companies positioned just outside the gates of military bases that target servicemembers with costly loans and expensive contracts for items like cars, furniture, and electronics. -
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Question of the Week
Question: Are we required to send a 1099-NEC (non-employee compensation) to a vendor that is a corporation? Answer: No. You are not required to send a 1099-NEC to either a C or S corporation in most circumstances—the exceptions being certain situations that are not typically involved in credit union operations. -
CFPB Acts to Protect the Public from Black-Box Credit Models Using Complex Algorithms
The CFPB recently announced its issuance of Consumer Financial Protection Circular 2022-03, "Adverse action notification requirements in connection with credit decisions based on complex algorithms." -
FHFA Requires New Public Disclosures by Enterprises
The Federal Housing Finance Agency recently published a final rule that amends the Enterprise Regulatory Capital Framework by introducing new public disclosure requirements for Fannie Mae and Freddie Mac. -
MLA System Release Due June 30
According to a notice on the Department of Defense's Military Lending Act website, its next planned system release (version 5.13) is scheduled for June 30, 2022. -
CFPB: Credit Card Payment Data Suppression May Harm Consumers
The CFPB has posted a blog article, "CFPB tells credit card CEOs: Practice of suppressing payment data has potential for consumer harm." -
U.S. House Prices Continue Upward Climb
The Federal Housing Finance Agency has released its House Price Index Report for the first quarter of 2022. -
NASCUS to Host Cannabis Banking Symposium
As national and state regulations regarding hemp and marijuana production, processing, and sales evolve, it is important that credit unions ensure their ability to identify and appropriately monitor cannabis-related accounts, and understand their legal responsibilities. -
Upcoming Regular Commission Meeting (Texas State Charters)
The Credit Union Commission will hold its regular meeting on Friday, June 10, at 9 a.m. in the Department’s conference room.
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