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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|October 15, 2014|
|TIPs Bulletin #14-23||SB 1050—Notaries Public: Verification of Identity: New Boxed Notice Required|
|October 1, 2014|
|TIPs Bulletin #14-22||Assembly Bill 2293 – Mandates Baseline Insurance Requirements for Transportation Network Companies|
|TIPs Bulletin #14-21||California Unclaimed Property Holder Notice Reports Coming Due|
|TIPs Bulletin #14-20||Assembly Bill 2742 – Revised Model Language for California Consumer Caution and Home Ownership Counseling Notice|
|September 23, 2014|
|TIPs Bulletin #14-19||AB-1858 Change to Financing Statement|
|September 18, 2014|
|TIPs Bulletin #14-18||Reg Z and Reg M Exemption Threshold Adjustments|
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.
FinCEN: QUARTERLY UPDATE ON 'SARs'
updated 10/27/14 03:09 PM
Also, Mortgage Service Transfer Guidance
The Financial Crimes Enforcement Network (FinCEN) has issued its SAR Stats quarterly update, which provides information on Suspicious Activity Reports (SARs) filed through Sept. 30, 2014.
'NMLS' RENEWAL PERIOD BEGINS NOV. 1
updated 10/17/14 01:01 PM
Guidance for Mortgage Loan Originators
The Nationwide Mortgage License Servicing and Registry (NMLS) annual renewal period begins Nov. 1 and ends Dec. 31, where mortgage loan originator registrants must renew their registrations annually, according to federal regulations.