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Research & Compliance     

LATEST RESEARCH ITEMS OF INTEREST...

Compliance

The answers you need—when you need them!
When technical challenges or complex situations arise at your credit union, turn to the Leagues’ PolicyWorks. Our mission is to provide technical, compliance, operational, economic, and regulatory information in an understandable and easily accessible way.
     
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Credit Union Quarterly Performance Report

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.

Ask PolicyWorks

Answers to your crucial questions can be less than one business day away. Post your question here, and a talented compliance professional will get back to you quickly! Or if you prefer, call the PolicyWorks compliance hotline to speak directly with our knowledgeable consultants.
Compliance Hotline: (844) 731-6072
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From the Editors of CU Weekly

BOOK YOUR AUDITS, ASSESSMENTS TODAY
updated 08/13/13 08:17 AM
CURoots Services Can Help
The remaining 2013 audit calendar is filling up, so book your audits and risk assessments with CURoots Services today!

CURoots Services can help with your credit union's audits and risk assessments, including Bank Secrecy Act (BSA)/Office of Foreign Assets Control (OFAC) audits, Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act audits, Automated Clearing House (ACH) audits, and Fair and Accurate Credit Transactions Act (FACTA) Red Flags risk assessments.

CURoots Services can also assist with several other internal audit needs, such as:

  • Management Control Audits and Reviews, including Dormant Account Audit, Branch Audit, Cash Control Audit, Closed Account Audit, Loan Review, File Maintenance and Supervisory Override Review, Employee Account Review, General Ledger (GL) Reconciliation Review, Call Report Review, and many others.
  • Full-scope audits of individual departments and functions of your credit union.

Avoid stress later by lining up the rest of your 2013 audits in advance. Let CURoots Services handle the details!

Contact Rita Fillingane—vice president of research and collaboration for the California and Nevada Credit Union Leagues—at 909.212.6055 or ritaf@ccul.org; or Jerry Carter, audit services manager for CURoots Services, at 909.214.4993 or jcarter@curoots.coop.

Remittance Transfer Rule Updates
The Consumer Financial Protection Bureau (CFPB) has released an update of its small business guide regarding the international electronic money transfers rule (remittance rule).

This updated guide reflects the most recent changes to the rule and will make it easier to understand the requirements, which will take effect on Oct. 28, 2013. Although the guide is not a substitute for the rule, it highlights issues that businesses—in particular, small businesses and those that work with them—should consider while implementing the new requirements.

Along with the guide, the CFPB has posted a video that gives an overview of the rule, recent changes, and the bureau's responses to questions raised regarding interpretation and implementation.

These versions of the guide and video replace versions released in late 2012.

New TIPs Bulletin Posted
A new TIPs Bulletins published by the California and Nevada Credit Union Leagues have been posted on the Leagues' website regarding clarifications and revisions to the CFPB's 2013 mortgage rules (Ability-to-Repay and mortgage servicing rules).

TIPs Bulletin #13-39 explains how the rule amends some of the final mortgage rules issued by the CFPB in January.

 
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NEW SPANISH TILA-RESPA TOOLKIT
updated 07/28/15 09:18 AM
Plus, Unclaimed Property Seminar
The Consumer Financial Protection Bureau (CFPB) has released a Spanish edition of “Your Home Loan Toolkit,” the consumer guide that is designed to replace the current Settlement Cost booklet when the TILA-RESPA Integrated Disclosures rule goes into effect on Oct. 3.

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POLICYWORKS LEAGUE COMPLIANCE SITE
updated 07/21/15 08:59 AM
League Member-Exclusive Content
The PolicyWorks League members’ only website provides member credit unions with ongoing compliance support as benefit of League membership. The website houses a library of compliance information and communications to assist credit unions with their compliance needs.

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D.J.'s Economix
Leagues Chief Economist Dwight Johnston continually provides economic and market analysis that is both informative and entertaining. Continue for daily and monthly commentary, rate forecasts, and economic updates.
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