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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Both reports give a key snapshot of the national economy, key performance data and ratios on California and Nevada credit unions, and national-versus-state comparisons. Credit unions can catch up on the latest quarterly financial analysis to prepare for the next economic and market performance trends within the industry.
New IRS Form Posted
The Internal Revenue Service’s (IRS) new 2014 W-8BEN-E form is now available on the forms and publications webpage of the IRS website.
Click here to access the form.
CFPB Posts Guide for Disclosure Rule
The Consumer Financial Protection Bureau (CFPB) has released the Small Entity Compliance Guide for the TILA-RESPA Integrated Disclosure Rule, designed to help credit unions determine their federal mortgage disclosure compliance obligations for mortgage loans they originate.
Click here to access the TILA-RESPA (Truth in Lending Act-Real Estate Settlement Procedures Act) rule compliance guide and other helpful resources.
The guide highlights issues that credit unions might find helpful to consider when implementing the rule. It may also be helpful to settlement service providers, software providers, secondary market participants, and other firms that serve as business partners to creditors.
In the coming weeks, the CFPB will send an update when a companion guide with details about completing the new integrated disclosure forms is available.
FINCEN ISSUES CDD FAQs
updated 07/25/16 10:52 AM
Plus, HMDA Resources Published
The Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions to help financial institutions, including credit unions, understand the scope of the new Customer Due Diligence (CDD) Requirements that were published in May. The CDD rules became effective on July 11, 2016 with compliance required by May 11, 2018.
CFPB PAYDAY LOANS WEBINAR
updated 07/18/16 02:40 PM
And, CUNA/League Compliance Tools
The Consumer Financial Protection Bureau (CFPB) is hosting a webinar on the recent Notice of Proposed Rulemaking on Payday, Vehicle Title, and Certain High-Cost Installment Loans on July 26.