(please click ad for more information)
Research & 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.
InfoSight CU PolicyPro PolicyWorks
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
Continue for Ask PolicyWorks

From the Editors of CU Weekly

updated 09/27/13 10:29 AM
FinCEN Also Publishes Advisory
Seven federal regulatory agencies have issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected elder financial abuse to appropriate authorities.

Click here to view the interagency guidance.

"The Gramm-Leach-Bliley Act generally requires that a financial institution notify consumers and give them an opportunity to opt out before providing nonpublic personal information to a third party," states a news release by the National Credit Union Administration (NCUA). "Today’s guidance clarifies that it is generally acceptable under the law for financial institutions to report suspected elder financial abuse to appropriate local, state or federal agencies."

NCUA said that older adults can be attractive targets for financial exploitation and may be taken advantage of by scam artists, financial advisors, family members, caregivers, or home repair contractors.

"Recent studies suggest that financial exploitation is the most common form of elder abuse and that only a small fraction of incidents is reported," the statement noted. "Older adults often are targeted because they have retirement savings, accumulated home equity, or other assets. They also are more likely to experience cognitive decline, which can impair their capacity to recognize financial exploitation and scams."

Employees of financial institutions may be able to spot irregular transactions, account activity, or behavior that signals financial abuse. They can play a key role in preventing and detecting elder financial exploitation by reporting suspicious activities to the proper authorities.

The interagency guidance was issued by the Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Trade Commission (FTC), National Credit Union Administration (NCUA), Office of the Comptroller of the Currency (OCC), and the Securities and Exchange Commission (SEC). The Commodity Futures Trading Commission (CFTC) is issuing the document as staff guidance.

FinCEN Advisory Released
The Financial Crimes Enforcement Network (FinCEN) has issued an advisory to update financial institutions on activity associated with regulatory restrictions imposed on Mexican financial institutions for transactions in U.S. currency.

On Sept. 27, the Comisión Nacional Bancaria y de Valores (CNBV) issued an advisory that, among other things, provides relevant statistics in this regard.

Click here for more information.

print   email   share   share   share

updated 11/30/15 12:02 PM
Reg. Z and M Updates
The Consumer Financial Protection Bureau (CFPB), Federal Reserve Board, and Office of the Comptroller of the Currency (OCC) announced that the threshold for exempting loans from special appraisal requirements for higher-priced mortgage loans during 2016 will remain $25,500.

Click to view the complete story

updated 11/24/15 07:46 AM
Informative ComplySight Webinars
Kick off the New Year with ComplySight and make sure your regulatory compliance is at its finest in 2016 and beyond.

Click to view the complete story

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.
Scroll through a variety of practical resources to help with BSA, compensation, compliance, disaster preparedness, regulatory exams, and more.
Comment Letters
The Leagues write letters in response to proposed legislation and regulations that affect your credit union’s ability to serve members.