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Research & Compliance     

LATEST RESEARCH ITEMS OF INTEREST...

Research & Compliance

The answers you need—when you need them!
When technical challenges or complex situations arise at your credit union, turn to the Leagues’ Research & Information (R&I) Department. Our mission is to provide technical, compliance, operational, economic, and regulatory information in an understandable and easily accessible way.
     
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Credit Union Quarterly Performance Report

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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Answers to your crucial questions can be less than one business day away. Post your question here, and a talented R&I professional will get back to you quickly! Or if you prefer, call the R&I Hotline to speak directly with our knowledgeable consultants. R&I Hotline: 877-243-5728
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TIPs Bulletins
The Technical Information Procedure (TIPs) bulletins are great tools to help credit union staff understand recent changes in laws and regulations and how they may affect the credit union. TIPs bulletins address current mandatory compliance issues and changes to federal and state regulations. Continue for complete list of current TIPs Bulletins
August 8, 2014
TIPs Bulletin #14-16 CA Local Agency Deposits Weekly Reports Can Be Submitted Electronically
   
August 8, 2014
TIPs Bulletin #14-15 MasterCard Revised Standards – Limitation of Liability of Cardholders for Unauthorized Use (“Zero Liability”)
   
July 16, 2014
TIPs Bulletin #14-14 Canada’s Anti-SPAM Legislation (CASL) and Its Impact to U.S. Credit Unions
   
 
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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.

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From the Editors of CU Weekly

Arnold Ramirez, Research and Information Consultant for the California and Nevada Credit Union Leagues
PREPAID CARD EXPIRATION DISCLOSURES
updated 05/16/14 11:16 AM
Requirements for Credit Unions
My niece recently found a Visa prepaid card at home and asked me if it was still valid, but I wasn’t sure what to tell her. A little research gave me my answer.

According to Regulation E §1005.20, there are certain conditions that must be met for an issuer or seller of a general-use prepaid card which determine whether an expiration date may be applied.

Before a general-use prepaid card is purchased, the issuer or seller must disclose to the consumer the information about dormancy, inactivity, service fee, expiration date, and the toll-free telephone number. If the issuer or seller has a website, it must also disclose that site so the consumer can obtain fee information.

These disclosures must be made on the card. A disclosure made in an accompanying terms-and-conditions document—or on the packaging surrounding a certificate or card, or on a sticker or other label affixed to the certificate or card—does not constitute a disclosure on the certificate or card.

The fees—and terms and conditions of expiration—that are required to be disclosed prior to purchase may not be changed after purchase.

Click here to read the entire Research and Information column on Page 21 within the June/July edition of Credit Union Digest!

 
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EXCEPTION ISSUED ON REMITTANCE RULE
updated 08/25/14 09:28 PM
CUs Can Estimate Fees
A final rule issued by the Consumer Financial Protection Bureau (CFPB) extends a temporary exception to its remittance transfer rule that allows credit unions and other depository institutions to estimate certain remittance pricing disclosures when specific pricing information is not available.

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CFPB ISSUES FINAL 'TILA' ADJUSTMENTS
updated 08/24/14 11:35 AM
Rule Reviews Dollar Amounts
The Consumer Financial Protection Bureau (CFPB) is issuing its final rule on Truth in Lending Act (TILA) annual threshold adjustments, amending the regulatory text and official interpretations for Regulation Z, which implements TILA.

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D.J.'s Economix
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