Top 5 compliance issues of September: Supervisory Committee Guide, Truth in Lending

NAFCU’s award-winning compliance team works daily to offer compliance assistance and services to keep credit unions’ informed of the ever-changing regulatory environment. Each month, the team answers hundreds of compliance-related questions from NAFCU members and blogs on key issues. Here were the five most popular topics in September.

The NCUA Supervisory Committee Guide: Following the NCUA Board’s decision to retire the agency’s Supervisory Committee Guide, NAFCU Regulatory Compliance Counsel Reginald Watson discussed the recently issued final rule on Supervisory Committee Audits and Verifications.

2020 Truth in Lending Threshold Adjustments: In another blog post, Watson noted the CFPB’s annual inflation-based adjustments to certain thresholds for transactions covered under Regulation Z.

Bonuses to members: NAFCU Senior Regulatory Compliance Counsel Jennifer Aguilar provided insight into the NCUA’s rules regarding credit unions providing bonuses to members, including an overview of Part 707 of  the agency’s Truth in Savings regulation.


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