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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.
INFOSIGHT RECENT UPDATES
updated 06/28/16 07:49 AM
Plus, CFPB Supervisory Highlights
InfoSight, a benefit of your League membership, provides instant access to compliance information, including easy-to-read compliance summaries, FAQs, checklists, and links to laws and regulations. Some recent updates are highlighted below:
LATEST POLICYWORKS NEWSLETTER
updated 06/21/16 08:04 AM
CFPB Adjusts Annual Thresholds
The latest PolicyWorks Newsletter is now available. Please check your email, or click here to access the PolicyWorks newsletter using your email address and League members-only password.