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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|March 25, 2015|
|TIPs Bulletin #15-06||Foreign Language Translation Forms Revisions|
|TIPs Bulletin #15-05||NCUA Issues Warning to Consumers about “National Credit Union” Phishing Scam|
|January 28, 2015|
|TIPs Bulletin #15-04||2014 Residential Mortgage Loan Report|
|TIPs Bulletin #15-03||HMDA/LAR Reports|
|January 16, 2015|
|TIPs Bulletin #15-02||2015 Information Returns and Disclosures|
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.
The templates are easily edited and implemented based on your credit union's unique requirements, and are fully compliant with National Credit Union Administration (NCUA) regulations.
CU PolicyPro features:
And, as a reminder: CU PolicyPro now includes in its suite of templates, policies that address the new Mortgage Servicing Rule and the Ability to Repay Rule which took effect in January. This includes policies that address general requirements and others that address small creditor requirements.
If you haven’t logged into CU PolicyPro to review these new mortgage model policies and the many other model polices that are in CU PolicyPro, take some time to do so by clicking here.
New Liquidity Requirements
New regulatory requirements associated with the National Credit Union Administration’s (NCUA) final rule on Liquidity and Contingency Funding Plans (Part 741.12) become effective on March 31. These new requirements will apply to all federally insured credit unions.
NCUA has released Supervisory Letter 14-03, which provides federally-insured credit unions helpful information regarding the exam process with respect to the new liquidity and contingency funding rules. The supervisory letter accompanies the release of the portion of the AIRES Questionnaire that has been added to cover the new liquidity and contingency funding rules.
In addition, NCUA’s Letter to Credit Unions 13-CU-10 also contained guidance on how to comply with the liquidity and contingency funding rules.
NCUA ‘Listening Session’
The Leagues also encourage credit unions to register for NCUA Chairman Debbie Matz’s June 26 Listening Session in Los Angeles. Due to space constraints, registration is limited to 150 people.
NCUA: FLOOD INSURANCE RULE
updated 06/23/15 10:12 AM
Also, Overdrafts Still Regulatory Priority
Five federal regulatory agencies including the National Credit Union Administration (NCUA), have approved a final rule that modifies the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). The final rule applies to loans secured by properties located in special flood hazard areas and implements provisions related to the escrowing of flood insurance payments and the exemption of some detached structures from the mandatory flood insurance purchase requirement. The final rule also implements provisions in the Biggert-Waters Flood Insurance Reform Act of 2012 (the Biggert-Waters Act) relating to the force placement of flood insurance.
DBO IT SYSTEMS SURVEY SENT TO CA CUs
updated 06/16/15 09:03 AM
Surveys Due July 10
The California Department of Business Oversight (DBO) emailed its biannual IT survey to all California state-licensed credit unions on June 8. Survey notifications were emailed to each institution’s designated email address for communications with the DBO. The email contains information on accessing and submitting the electronic 2015 IT Systems Survey.