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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Rural and Underserved Counties, and Federal Benefit Payment Garnishments
TIPs Bulletin 13-34 examines how the CFPB has posted an updated list of counties determined to be rural or underserved for purposes of applying several regulatory provisions in 2014.
TIPs Bulletin 13-33 provides details on how the Treasury Department, Social Security Administration, Veterans Affairs Department, Railroad Retirement Board, and Office of Personnel Management have issued a final rule revising the procedures that credit unions and other financial institutions must follow when a garnishment order has been received against an account containing certain protected federal benefit payments that have been direct deposited.
Loan Participation Effective Date Pushed Back
The National Credit Union Administration (NCUA) announced a new effective date (Sept. 23) for its final rule on loan participations, which will give credit unions flexibility to adequately prepare for the rule's changes. The original effective date was July 25.
The NCUA approved the loan participation rule at last month's open board meeting, which the Leagues' TIPs Bulletin 13-32 discusses in detail.
Mortgage Rules Readiness Guide Released
The CFPB has released its first version of the 2013 Dodd-Frank Mortgage Rules Readiness Guide. The guide is published to:
CONFERENCE CALL: CHANGES TO REG Z
updated 05/23/16 03:02 PM
OT Rules, Deposit Recon. Practices
Credit union professionals can join a conference call briefing on May 25 by the Consumer Financial Protection Bureau (CFPB) regarding changes to Regulation Z implementing the Helping Expand Lending Practices in Rural Communities Act (HELP Rural Communities Act) contained in the Fixing America’s Surface Transportation Act (Public Law 114-94).
FINCEN PUBLISHES FINAL CDD RULES
updated 05/17/16 08:02 AM
TILA-RESPA Citations Resources
The Financial Crimes Enforcement Network (FinCEN) has issued final rules under the Bank Secrecy Act to clarify and strengthen customer due diligence requirements for banks and credit unions, brokers or dealers in securities, mutual funds, and futures commission merchants.