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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|July 16, 2014|
|TIPs Bulletin #14-14||Canada’s Anti-SPAM Legislation (CASL) and Its Impact to U.S. Credit Unions|
|June 30, 2014|
|TIPs Bulletin #14-13||Voluntary Liquidation|
|TIPs Bulletin #14-12||Annual Indexing of HUD’s Basic Statutory Mortgage Limits for Multi-Family Housing Programs|
|June 10, 2014|
|TIPs Bulletin #14-11||Interim Rule - Exchange of Mutilated Paper Currency|
Shared Compliance Services
CURoots offers a variety of services to help you keep pace with ever-changing regulatory compliance while you focus on day-to-day credit union business.
Internal Audit Services
CURoots can help your credit union identify potential issues, assess risk, and save valuable time and resources by providing expert assistance for your auditing needs.
TIPs Bulletin 14-07 reviews the National Credit Union Administration’s (NCUA) new derivatives rule, which permits federally chartered credit unions to engage in limited derivatives activities for the purpose of mitigating interest rate risk. However, the rule includes a provision affecting federally insured credit unions, as well as a provision impacting the responsibilities of supervisory committee auditing.
TIPs Bulletin 14-06 highlights the NCUA’s final rule amendment to clarify that federal credit unions are authorized to create and fund a charitable donation account—a hybrid charitable and investment vehicle—as an activity incidental to the business for which the credit union is chartered, provided the account is primarily charitable in nature and meets other regulatory conditions to ensure safety and soundness. The final rule amends parts 703 and 721 of the NCUA Rules and Regulations.
InfoSight Checklists: A Useful Tool
As a reminder, InfoSight contains all kinds of checklists (see below) that are beneficial to credit unions. If you aren’t signed up for InfoSight or haven’t visited this useful resource in a while, log in sometime soon!
If you’re not subscribed to InfoSight, click here to request access (for California credit unions). Nevada credit unions can click here. (InfoSight is a League-member benefit, so League membership is required)
CFPB Issues Consumer Publications
The Consumer Financial Protection Bureau (CFPB) recently announced the availability of three revised consumer publications, including an information brochure and two booklets required under the Real Estate Settlement Procedures Act (RESPA) or the Truth in Lending Act (TILA):
CHANGES TO REG C PROPOSED ON HMDA
updated 07/29/14 10:20 AM
Comments Due Oct. 22
The Consumer Financial Protection Bureau (CFPB) has proposed changes to Regulation C, which implements the Home Mortgage Disclosure Act and is inviting financial institutions to comment on the proposed rule.
TIPs, FinCEN PUB, HANDBOOK UPDATE
updated 07/21/14 12:44 PM
The Latest in Compliance
A new TIPs Bulletins (Technical Information and Procedures) has been posted by the California and Nevada Credit Union Leagues on Canada’s anti-SPAM legislation, which went into effect July 1 and is similar to the U.S. government’s CAN-SPAM Act of 2003.