Summaries
-
NCUA Risk Alert: Business Email Compromise through Exploitation of Cloud-Based Email Services
NCUA Risk Alert: 21-RISK-01 Business Email Compromise through Exploitation of Cloud-Based Email Services October 2021 NCUA issued Risk Alert 21-Risk-01 to provide credit unions a warning regarding a common Business Email... -
CFPB Issues New Specifications for its Collect Website Relating to Credit Card Data Submission
21-RA-09 CFPB Issues New Specifications for its Collect Website Relating to Credit Card Data Submission October 2021 On August 20 the CFPB issued new technical specifications for complying with credit... -
Summary: Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X
Protections for Borrowers Affected by the COVID-19 Emergency Under the Real Estate Settlement Procedures Act (RESPA), Regulation X April 2021 CFPB Summary re: Protections for Borrowers Affected by the... -
Legal Opinion 21-3500 Proposed Capital Markets Funding Program for Credit Unions
Legal Opinion 21-3500 Proposed Capital Markets Funding Program for Credit Unions April 23, 2021 NCUA issued Legal Opinion 21-3500 to address issues related to a credit union funding program in... -
CFPB Delays Mandatory Compliance Date of General Qualified Mortgage (QM) Final Rule Under Truth in Lending Act
21-RA-06 CFPB Delays Mandatory Compliance Date of General Qualified Mortgage (QM) Final Rule Under Truth in Lending Act June 2021 Earlier this year, NCUA issued Regulatory Alert 21-RA-01 to provide... -
NASCUS Summary: NCUA Risk Alert 21-RA-02 — CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V
21-RA-02 CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V NCUA issued Regulatory Alert 21-RA-02 to inform credit unions on the CFPB’s threshold adjustments to Regulations... -
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations Prepared by NASCUS Legislative & Regulatory Affairs Department February 2021 On January 19, 2021,... -
Summary: Regulatory Alert 21-RA-01: CFPB Amends Ability-to-Repay/QM Rule under TILA
Regulatory Alert 21-RA-01 CFPB Amends Ability-to-Repay/QM Rule under TILA January 2021 The CFPB has issued 2 final rules amending the Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) in Regulation Z. Both final... -
Summary: Federal Banking Agencies Issue Joint Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 NCUA and the other federal banking agencies (FBAs) have issued a joint statement updating their guidance regarding how they evaluate... -
Summary: FinCEN Final Rule — BSA, CIP, BSA Programs, and Beneficial Owner Rules for PICUs
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 FinCEN has issued a final rule applying BSA compliance program requirements to privately insured credit unions (PICUs) and other financial... -
Summary: Joint Statement on Additional Loan Accommodations Related to COVID-19
Joint Statement Summary Joint Statement on Additional Loan Accommodations Related to COVID-19 August 2020 The Federal Financial Institutions Examination Council (FFIEC) has issued a Joint Statement to provide prudent risk... -
Summary: Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires
Joint Statement Summary Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires September 2020 NCUA, the Federal...