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From the Editors of CU Weekly

updated 11/12/13 09:58 AM
New Regulations and Consumer Rights
The National Credit Union Administration has released a three-part Consumer Protection Update video series and posted supporting content on the agency’s consumer website, www.MyCreditUnion.gov, to explain the new rules on international remittances and mortgage lending.

In the videos, NCUA's Office of Consumer Protection Director Gail Laster outlines the agency's plan for implementing the new rules and explains how these new regulations will better protect consumers.

Additional information, such as compliance resources for credit unions, is also available on a dedicated webpage at www.MyCreditUnion.gov/update.

The series is designed to inform credit unions and their members about new regulations and consumer protection rights. Future releases are planned for 2014.

Free Remittance and Mortgage Webinars
NCUA is also hosting a free two-part webinar, "New Dodd-Frank Remittances and Mortgage Lending Rules," on Nov. 18 and Dec. 18—each beginning at 11 a.m. (Pacific).

For detailed information on what the webinars will cover, click here.

Staff from NCUA’s Office of Consumer Protection will provide a high-level overview of the new rules in each part of the webinar. Credit unions should plan to attend both parts, as different material will be covered in each.

Click here to register for the Nov. 18 session, and click here for the Dec. 19 session. These links will also be used to log into the webinar after participants have registered. Registrants should allow pop-ups from this website.

Participants can submit questions in advance at WebinarQuestions@ncua.gov. The subject line of the email should read "Remittances and Mortgage Lending Rules Webinar."

Additionally, the Consumer Financial Protection Bureau issued a safe harbor list of countries (Aruba, Brazil, China, Ethiopia, and Libya) that qualify for an exception in subpart B of Regulation E, which implements the Electronic Fund Transfer Act, and published this list on its website. The current list is unchanged from the prior release in the Federal Register. The bureau intends to revise the list periodically.

New TIPs Bulletin Posted
A new TIPs Bulletin (Technical Information and Procedures) has been posted! TIPs Bulletin 13-48 looks at annual Regulation D reserve adjustments.

The Federal Reserve Board announced its annual adjustments to the transaction account balances that are subject to reserve requirements under Regulation D. It also amended the minimum balance requirements for transaction account reserves that are used to determine the frequency of reporting.

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updated 09/28/15 02:11 PM
'Your Home Loan Toolkit'
The Consumer Financial Protection Bureau (CFPB) has posted a Spanish language version of its Home Buying Information Booklet—also known as the “special information booklet” or “settlement cost booklet”—as required under the Real Estate Settlement Procedures Act (RESPA), Regulation X, and Regulation Z.

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updated 09/22/15 09:21 AM
PolicyWorks News a Valuable Resource
In a recent presentation to credit unions, Financial Crimes Enforcement Network (FinCEN) Director Jennifer Shasky Calvery said some early research by FinCEN indicates that over the past nearly two years there are a number of credit unions that haven’t filed Bank Secrecy Act (BSA) Suspicious Activity Reports (SARs) or Currency Transaction Reports (CTRs).

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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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