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|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)|
|December 31, 2014|
|TIPs Bulletin #14-35||Truth in Lending (Regulation Z) Adjustment to Asset-Size Exemption Threshold for Escrow Accounts for Higher-priced Mortgages|
|TIPs Bulletin #14-34||Home Mortgage Disclosure (Regularion C) Adjustment to Asset-Size Exemption Threshold|
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.
Institutions subject to Consumer Financial Protection Bureau (CFPB) jurisdiction, including credit unions and indirect auto lenders, should take steps to ensure they are operating in compliance with the Equal Credit Opportunity Act (ECOA) and Regulation B as applied to dealer-markup and compensation policies.
Click here to read the entire Asked and Answered column within the April/May edition of Credit Union Digest on page 20.
Fair Lending Exam Update
The Credit Union National Association (CUNA) Compliance Blog has posted valuable information on the National Credit Union Administration’s (NCUA) fair lending examinations.
The agency completed 41 off-site supervision contacts last year and plans to complete approximately 50 off-site supervision contacts in 2014.
NCUA has implemented a risk-focused approach to conducting on-site examinations and off-site supervision contacts. Examinations include a transactional review of fair lending risk factors, plus a review of the credit union’s fair lending compliance management system.
Examination focal points and contact scoping are based on multiple factors, including Home Mortgage Disclosure Act (HMDA) reporting outliers and violations identified in safety and soundness examinations, or through the complaint process. Supervision contacts also review a credit union’s fair lending compliance management system.
Click here for more information and resources.
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.
NCUA SUPERVISORY PRIORITIES FOR 2015
updated 01/13/15 09:35 AM
Additional MSB Guidance
The National Credit Union Administration (NCUA) sent a letter to federally-insured credit unions on its supervisory priorities for 2015. The letter is intended to assist credit unions in preparation for 2015 examinations.