REGular Blog
In today’s financial services environment, keeping up with the regulatory compliance landscape is challenging, and takes an ever-increasing commitment of your credit union's time and energy. Our REGular Blog is designed to keep you informed of what’s happening in the regulatory compliance world by providing not only our thought leadership and perspective, but also linking you to helpful resources from other trade associations and industry groups. From Richmond to Alexandria to Washington, stay in the know on issues to help you stay one step ahead of the regulators.
- REGular Blog: Bank Customers Are Having Accounts Closed ... Is BSA to Blame?
November 7, 2023Banks are evicting what appears to be an increasing number of individuals, families and small business owners, many of whom "don't have the faintest idea why their banks turned against them." What gives?
- Regulatory Compliance Weekly Roundup: November 3, 2023
November 3, 2023In this week's Weekly Roundup, we cover news from NCUA and its budget proposal for 2024-2025, plus this week's Diversity, Equity and Inclusion Seminar; the CFPB's 1071 Rule injunction; and the coming merger of CUNA and NAFCU to form a new national trade association, America's Credit Unions.
- League President/CEO Carrie Hunt to Testify on NCUA Budget Proposal
November 3, 2023League President/CEO Carrie Hunt will be among the industry stakeholders testifying on the NCUA budget at a public hearing on Nov. 16. The agency will hold a public budget briefing at its Central Office, beginning at 2 p.m. The meeting will be livestreamed on NCUA.gov.
- NAFCU Compliance Blog: De Minimis Exception to Submitting Credit Card Agreements to the CFPB
October 30, 2023Today's NAFCU Compliance Blog post covers one of the exceptions related to submitting credit card agreements to the CFPB. Section 1026.58(c)(5)-(7) includes a de minimis exception, which may be more likely to apply to smaller credit unions.
- Registration Opens for League Compliance Roundtable and Member Call-In
October 27, 2023Registration is open for two upcoming League virtual events! Both are free. League Compliance Roundtable (Dec. 6) and the Member Call-In (Dec. 12).
- Federal Reserve Proposes Changes to Debit Interchange Cap
October 25, 2023The Federal Reserve is proposing changes to the debit interchange cap and calculation methods, as well as proposing a new process to update these figures more frequently going forward. The changes would apply directly to financial institutions with $10 billion or more in total assets, though will have indirect, downstream effects on debit card issuers of all sizes.
- NCUA Vice Chair Kyle Hauptman, League’s Carrie Hunt Plan Nov. 8 Virtual Event on Regulation, Agency Issues
October 24, 2023Credit unions: You’re invited to a special virtual event on Nov. 8 with National Credit Union Administration Vice Chairman Kyle Hauptman and League President/CEO Carrie Hunt. Join us for a candid conversation on the issues, regulations and challenges the agency is navigating, and their potential impact on credit unions.
- Regulatory Compliance Weekly Roundup: October 20, 2023
October 20, 2023News, notes and insights from the regulatory compliance world, including highlights of Thursday's NCUA Board Meeting.
- NCUA Board Receives Cybersecurity Update; Proposed Rules for Insurance Coverage, Fair Hiring Issued
October 19, 2023NCUA Board meeting summary for Oct. 19. Staff provided an update on the state of cybersecurity. The Board issued a proposed rule to amend the NCUA’s regulations governing share insurance coverage, with trust accounts a particular area of focus. The Board also issued a "Fair Hiring in Banking" proposal to incorporate the agency’s “Second Chance” Interpretive Ruling and Policy Statement (IRPS 19-1).
- Nomination Hearing Oct. 19 for NCUA Board Nominee Tanya Otsuka
October 16, 2023The Senate Banking, Housing, and Urban Affairs Committee will meet Thursday to consider nominations, including a nominee for the NCUA Board, Tanya Otsuka. President Joe Biden nominated Otsuka — current senior counsel for the majority staff of the Senate Banking Committee — to take the place of current board member Rodney Hood. "The Virginia Credit Union League looks forward to working with Ms. Otsuka should she be confirmed," said League President/CEO Carrie Hunt. "We are very excited to see how she will bring her talents to the credit union industry."
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