Posts Tagged ‘NeighborBench’

Beating the BSA blues

by. Shelbey Ballantyne The Bank Secrecy Act. For many, just reading those words can create feelings of nausea, and with good reason. However, in an era where banks are fined millions of dollars or issued [...]

The compliance paradox: Budget vs. value

The compliance paradox: Budget vs. value

by. Shelbey Ballantyne It’s a given: successful financial institutions devote a lot of resources to compliance. And rightfully so, considering the potential fines and penalties of non-compliance. However, no institution wants to spend more [...]

NCUA’S significantly expanded final CUSO rule

NCUA’S significantly expanded final CUSO rule

by Jane Pannier The NCUA has amended—or rather, significantly expanded—the scope of the existing CUSO (Credit Union Service Organization) rule. Although NCUA does not have direct statutory authority to regulate CUSOs, it does [...]

The small credit union’s secret weapon

The small credit union’s secret weapon

As the number of financial institutions declines, many smaller institutions speculate about the uncertainty of their own futures. The downtrend has certainly been widely reported over the past few weeks, even in the general press, [...]

Increasing diversity by increasing self-assessment

Increasing diversity by increasing self-assessment

by. Shelbey Ballantyne Proposed Interagency Policy Statement Establishing Joint Standards for Assessing the Diversity Policies and Practices of Entities Regulated by the Agencies If you are a financial institution regulated by the OCC, the Fed, [...]

Loss mitigation procedures

Loss mitigation procedures

by Dennis Agle The sixth in a series of posts on the new mortgage servicing rules. CFPB has issued the Final Rule for Mortgage Servicing, which takes effect January 10, 2014. Among the numerous changes [...]

What is UDAAP and why are examiners focusing on this issue?

by. Jane Pannier UDAAP stands for Unfair, Deceptive, or Abusive Acts or Practices.  The Dodd-Frank Act added the term “abusive” to the existing Unfair, Deceptive Acts or Practices Act in response to issues arising from [...]

CFPB examination procedures for remittance transfers

by. Coppelia Padgett The CFPB has released the examination procedures for the new Remittance Transfer Rule, which is an amendment of Regulation E or Electronic Funds Transfer Act (EFTA). The final rule went into effect [...]

Here it comes: New mortgage servicing rules

Here it comes: New mortgage servicing rules

by Dennis Agle Unless you’ve been living lately on one of the remoter planets in our solar system, you’ve likely been inundated with a flood of information about the new mortgage servicing rules [...]

Top 5 problems with annual ACH audits

Top 5 problems with annual ACH audits

For many people, the cooling temperatures and changing leaves signal such pleasantries as football season and big turkey dinners. To the credit union's operations officer, those changes are just as likely to signal the impending [...]

How appraisals are affected by new higher-price mortgage rules

by Jane Pannier One of the many changes heading our way in January 2014 (on the 18th, to be precise) is an amendment to Reg. Z incorporating new provisions concerning appraisals for higher-priced mortgages. Here’[...]

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