InfoSight360 Newsletter
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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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FCC Delays Effective Date of Universal Revocation Provision
On Feb. 16, 2024, the FCC issued a consent order clarifying the consent revocation provisions of the TCPA. -
Parties Reach Deal to Vacate Credit Card Late Fee Rule
The Chamber of Commerce of the United States and the CFPB filed a joint motion for entry of consent judgment to resolve litigation in the US District Court for the Northern District of Texas regarding the CFPB’s credit card late fee rule. -
Question of the Week: Contacting FinCEN for a Bank Secrecy Act-Related Reason
If we need to contact FinCEN regarding a Bank Secrecy Act-related reason, is there a phone number we can reach them at? -
League InfoSight Highlight: InfoSight360 New Feature Overview: Draft Mode
On March 28, the Consumer Financial Protection Bureau announced that it will not prioritize enforcement or supervision actions regarding the payday lending rule. -
Question of the Week: Offsetting Delinquency from Funds on Deposit
Can we offset a delinquent credit card debt from funds on deposit? -
League InfoSight Highlight: CFPB Will Not Prioritize Enforcement of Payday Lending Rule
On March 28, the Consumer Financial Protection Bureau announced that it will not prioritize enforcement or supervision actions regarding the payday lending rule. -
Question of the Week: Whether to Send an Adverse Action on a Terminated Credit Card Line
We have a member who is behind on payments on his credit card line, and we wish to terminate that line. Do we have to send an adverse action notice? -
Simplified CECL Tool Updated for March 2025
This week, the National Credit Union Administration released the March 2025 update of its Simplified CECL Tool. The update provides the latest life-of-loan—or Weighted Average Remaining Maturity—factors. -
League InfoSight Highlight: FinCEN Guts Beneficial Ownership Reporting Requirements under the CTA
The Financial Crimes Enforcement Network has issued an interim final rule removing the requirement for domestic reporting companies to file their beneficial ownership information directly with the agency. -
Question of the Week: FinCEN’s New BOI Bulletin’s Effect on Credit Unions
I have heard that the collection of data requirement under the Beneficial Ownership Information (BOI) rule has been removed. What does this mean for credit unions?
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