A resource for credit unions in CA & NV, providing credit union financial and economic trend analysis, brought to you by your Leagues in partnership with CUNA & Affiliates.
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|March 25, 2015|
|TIPs Bulletin #15-06||Foreign Language Translation Forms Revisions|
|TIPs Bulletin #15-05||NCUA Issues Warning to Consumers about “National Credit Union” Phishing Scam|
|January 28, 2015|
|TIPs Bulletin #15-04||2014 Residential Mortgage Loan Report|
|TIPs Bulletin #15-03||HMDA/LAR Reports|
|January 16, 2015|
|TIPs Bulletin #15-02||2015 Information Returns and Disclosures|
Shared Compliance Services
CURoots offers a variety of services to help you keep pace with ever-changing regulatory compliance while you focus on day-to-day credit union business.
Internal Audit Services
CURoots can help your credit union identify potential issues, assess risk, and save valuable time and resources by providing expert assistance for your auditing needs.
The sale and transfer of assets will be finalized on Feb. 28. The date is also when the California and Nevada Credit Union Leagues will assume operation of CURoots, whose services include shared compliance and specialty internal audit services. All current compliance and audit services/contracts will continue uninterrupted.
All member credit unions of the Leagues will be eligible for CURoots’ preferred member pricing as of March 1, and the $20,000 membership purchase will no longer be required.
“This will minimize the duplication of efforts within the credit union system and furthers the objectives of credit union collaboration,” said Gary Perez, CURoots board chairman and president and CEO of USC Credit Union in Los Angeles, CA.
“We are pleased we can provide our member credit unions in California and Nevada with additional compliance and internal audit solutions, which will complement current League compliance services such as InfoSight, CU PolicyPro, and the Research and Information hotline. Bringing CURoots services under the Leagues will leverage our larger scale and help reduce costs and increase efficiencies,” added Diana Dykstra, Leagues president and CEO.
CFPB: HOUSING COUNSELOR GUIDANCE
updated 04/21/15 09:02 AM
Plus, CC Agreement Submission Halted
The Consumer Financial Protection Bureau (CFPB) issued a final interpretive rule on how to provide mortgage applicants with a list of local homeownership counseling organizations. The interpretive rule restates guidance the CFPB issued in 2013, and includes new instructions about: how to provide applicants abroad with homeownership counseling lists; permissible geolocation tools; combining the homeownership counseling list with other disclosures; use of a consumer’s mailing address to provide the list; and high-cost mortgage counseling qualifications and lender participation in such counseling.
SECONDARY CAPITAL PROCESS UPDATES
updated 04/14/15 09:32 AM
Also, Q & A on Branch Closures
Low-income credit unions and investors will find secondary capital processes easier under the National Credit Union Administration’s (NCUA) revised supervisory policies.