Blog
- DOJ Backs Democrats in FDIC Board Struggle
August 31, 2022The Department of Justice has sided with the Federal Deposit Insurance Corp.'s board over its former chair. The department of legal counsel at the Department of Justice has released an opinion stating that the chairperson can't prevent a majority of the FDIC board from presenting items for a vote and decision.
- Filene Research: Updating Overdraft Protection to Meet Member Needs
August 31, 2022Overdraft protection (ODP) programs were originally designed to help members but shifts over the years have moved ODP from supportive to potentially harmful for those who can least afford it. How can credit unions update ODP offerings to re-align them with their mission, value proposition, and business model?
- As General Elections Get Closer, CUNA Launches New Phase of Credit Unions Vote
August 29, 2022CUNA has launched the general election phase of its Credit Unions Vote Member Activation Program (MAP) campaign. According to the trade association, the campaign calls on credit unions to encourage members to participate in the upcoming elections and visit CreditUnionsVote.com.
- Some Student Loan Forgiveness Will Benefit Mortgages
August 29, 2022Student loan forgiveness for more than 40 million people announced this week could help improve mortgage eligibility and performance for a subset of them.
- CFPB Compliance Guides, Videos and Resources Available
August 26, 2022Credit unions can get access here to the Consumer Financial Protection Bureau’s (CFPB) Compliance guides, videos, and other resources to help entities understand, implement, and comply with Bureau rules and the statutes it implements.
- System Urges NEV Test Change
August 26, 2022CUNA sent a letter to the National Credit Union Administration (NCUA) Board Wednesday sharing concerns credit unions and Leagues have raised regarding the Net Economic Value (NEV) Supervisory Test.
- CUs, League Highlight Legislative Priorities in Meetings With Reps. McEachin, Scott and Wexton
August 26, 2022In a busy day of advocacy, your League on Thursday met virtually and in-person with three members of our Congressional delegation. During each, we outlined four key legislative priorities for credit unions ...
- On Compliance: What the Supreme Court’s ‘Administrative State’ Decision Means for Credit Unions
August 25, 2022NCUA’s approach to regulation protects it from the uncertainty many agencies now face following the Environmental Protection Agency ruling. The U.S. Supreme Court’s recent administrative law decision in West Virginia v. Environmental Protection Agency may have sent shockwaves throughout the Washington, D.C. regulatory state, however, it is unlikely to disrupt policymaking at the National Credit Union Administration.
- Cannabis and Compliance
August 25, 2022Serving cannabis-related businesses (CRB) brings significant growth potential for credit unions—along with challenging operational demands and complex regulations. But cannabis banking doesn't necessarily mean high-risk banking. Virginia's recreational cannabis market is scheduled to begin in 2024, but the industry faces a long regulatory road ahead, including sorting out banking related issues.
- NAFCU Compliance Blog: Revised Closing Disclosures
August 25, 2022Regulation Z, section 1026.19(f)(1) requires lenders to provide closing disclosures prior to consummation of a mortgage loan. However, what happens when a mistake is made or a something occurs after providing the closing disclosures and they are inaccurate. Credit unions should review section 1026.19(f)(2), which lays out the procedures for correcting inaccurate closing disclosures ...