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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|August 8, 2014|
|TIPs Bulletin #14-15||MasterCard Revised Standards – Limitation of Liability of Cardholders for Unauthorized Use (“Zero Liability”)|
|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|
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):
CFPB ISSUES FINAL 'TILA' ADJUSTMENTS
updated 08/19/14 11:35 AM
Rule Reviews Dollar Amounts
The Consumer Financial Protection Bureau (CFPB) is issuing its final rule on Truth in Lending Act (TILA) annual threshold adjustments, amending the regulatory text and official interpretations for Regulation Z, which implements TILA.
TIPs: MASTERCARD ZERO LIABILITY RULE
updated 08/12/14 10:29 AM
InfoSight Survey, FinCEN Advisory
The California and Nevada Credit Union Leagues have published TIPs Bulletin 14-15 (Technical Information and Procedures Bulletin), which addresses how MasterCard is revising its zero-liability rule in the United States by simplifying the language and applying the rule to all MasterCard-branded POS and ATM transactions (PIN-based).