Blog
- Important Notice About CUNA's Governmental Affairs Conference: DC Mask, Vaccine Requirements
January 5, 2022CUNA Governmental Affairs Conference attendees will be required to follow all local and federal guidelines that are in place at the time of our conference. In advance of your arrival to Washington D.C., CUNA will be asking you to verify your vaccine status through an independent provider. Details will be shared once the verification protocols have been finalized.
- CFPB: HMDA Filing Period Has Begun
January 5, 2022The CFPB has notified email update subscribers that the filing period for HMDA data collected in 2021 opened on Jan. 1, 2022. Access the HMDA Platform to begin the filing process for data collected in 2021 at https://ffiec.cfpb.gov/filing.
- Jan. 24 Deadline to Submit Comments on NCUA’s Draft Strategic Plan
January 4, 2022Comments on the NCUA's draft Strategic Plan are due on or before Jan. 24. Learn more
- FASB Told of Concerns by NAFCU Over Lack of Guidance on TDRs, Other Disclosure Issues
January 3, 2022NAFCU has sent a letter to the Financial Accounting Standards Board (FASB) sharing the association’s response to the Proposed Accounting Standards Board Update that eliminates accounting guidance for troubled debt restructurings (TDR) and enhances certain disclosure requirements.
- Credit Union Regulator Gives Preliminary Go-Ahead on Crypto Partnerships
January 3, 2022Credit unions have received their first green light from the National Credit Union Administration to partner with crypto firms to help members to manage digital assets. Many credit unions were hesitant to delve into the cryptocurrency market amidst concerns of regulatory backlash from the NCUA. The agency offered clarity this month to address concerns voiced by many in the credit union industry.
- Reminder: Comments Due Jan. 6 on CFPB Small Business Lending Data Collection Proposal
January 3, 2022Comments are due to the Consumer Financial Protection Bureau (CFPB) Jan. 6 on the Bureau’s proposed rule, intended to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) made by section 1071 of the Dodd-Frank Act.
- State Supreme Court Finalizes Legislative Districts
December 30, 2021The Supreme Court of Virginia announced Tuesday that it had unanimously approved legislative maps that will determine districts for the Virginia General Assembly and U.S. of Representatives.
- Woods Rogers: Cybersecurity Case Holds Lessons for CUs
December 22, 2021Under Virginia law, businesses can assume a tort duty to protect personally identifiable information by representing to customers that they carefully safeguard this information. The Supreme Court of Virginia declined to determine whether this holding is correct but may need to revisit this question. In the meantime, businesses should carefully craft statements in privacy notices to avoid assuming a tort duty to protect personally identifiable information.
- IRS Reporting Provisions Not Included in Reconciliation Legislation
December 21, 2021In a win for credit unions, the provision requiring increased financial institution reporting to the Internal Revenue Service was not included in reconciliation legislation unveiled by Congressional leaders.
- NCUA Board Meeting: Good News for CUs with Changes to NOL, Budget; Agency OKs CCULR
December 16, 2021The National Credit Union Administration Board tackled a full agenda today, including a number of high-profile items closely watched by the industry.