The NCUA Friday encouraged credit unions to expand their services to underserved areas in a new Letter to Credit Unions. The agency noted that any federal credit union with a multiple common bond field of [...]
As the ancient saying goes: New Year, New Car! (Unless you are Janice, who has had the same car since she was 16). When a member upgrades their vehicle they may choose to purchase (or [...]
Following enactment of Phase 4 coronavirus relief provisions last week, the Small Business Administration (SBA) has released two new interim final rules (IFRs) to address changes to the paycheck protection program (PPP) made by the [...]
On December 30, 2021 the Consumer Financial Protection Bureau (CFPB) issued a consent order with Omni Financial (Omni) for violations of the Military Lending Act (MLA) and the Electronic Funds Transfer Act. This is the [...]
Self-awareness is critically important to personal and professional growth. If you're not honest about your performance or behavior, you won't take the necessary steps toward improvement. A challenge for leaders is coaching employees who may [...]
The NCUA yesterday issued a Letter to Credit Unions regarding adjustments to the 2021 operating fee schedule and announcing a 19.6 decrease in the operating fee for federal credit unions. The 2021 operating fee [...]
As NAFCU moves forward with its 2021 advocacy priorities, NAFCU President and CEO Dan Berger Tuesday sent key federal agencies and administration officials an outline of the priorities and issues the association and credit unions [...]
Good morning, compliance friends! In the usual spirit of beginning a new year, we are getting some questions about upcoming compliance concerns. In November, NCUA hosted a webinar (available on-demand) giving an update on consumer [...]
NAFCU President and CEO Dan Berger Monday sent a letter to the Centers for Disease Control and Prevention (CDC) in support of designating credit union employees as "essential" workers under its coronavirus vaccination distribution plan. [...]
As the 117th Congress gets underway and the Biden administration prepares to transition into the White House, NAFCU has launched its 2021 legislative and regulatory priorities to achieve an operating environment in which credit unions – [...]
Time is a strange concept, especially in the business world. We know we only have so much of it to get things done during the day, and we're never really sure when our time in [...]
Welcome to the first Compliance Blog post of 2021! This new year should be an interesting one, given the change in presidential administration and efforts to end the COVID-19 pandemic. Speaking of the pandemic, President [...]
The Treasury Department and the Internal Revenue Service (IRS) Tuesday began delivering a second round of Economic Impact Payments (EIPs) to eligible individuals as a part of the Phase 4 coronavirus relief and funding omnibus [...]
The NCUA next month is set to host a complimentary webinar about the prevalence of human trafficking and detection methods from a credit union's perspective. The event is presented in partnership with the U.S. [...]
On December 18, the Consumer Financial Protection Bureau (CFPB) issued a second debt collection final rule. The first debt collection final rule was published in the Federal Register in November. The NAFCU compliance team blogged [...]
