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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|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|
|January 15, 2015|
|TIPs Bulletin #15-01||Important Reminder: Limitation on Credit Card / Unsecured Open-end Credit Late Fees (CA Financial Code 4001)|
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.
TILA-RESPA RULE CHANGES FINALIZED
updated 01/26/15 04:27 PM
Plus, FinCEN Issues New SAR Stats
Proposed amendments by the Consumer Financial Protection Bureau (CFPB) to the TILA-RESPA Integrated Disclosure rule were finalized in late January. These changes are effective Aug. 1, 2015.
ELECTRONIC DBO FILING
updated 01/16/15 04:35 PM
TIPs Bulletins; Cuban Asset Reg.
The Department of Business Oversight (DBO) has standardized electronic forms for weekly and quarterly reporting of local agency deposits and securities, allowing financial institutions to submit their weekly reports to the DBO electronically rather than through the U.S. mail. This change was made possible by Assembly Bill 2298, which took effect Jan. 1.