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.
Answers to your crucial questions can be less than one business day away. Post your question here, and a talented compliance professional will get back to you quickly! Or if you prefer, call the PolicyWorks compliance hotline to speak directly with our knowledgeable consultants.
Compliance Hotline: (844) 731-6072
Continue for Ask PolicyWorks
The guidance encourages financial institutions to effectively communicate with borrowers about the pending reset, and provides broad principles for managing risk as HELOCs reach their end-of-draw periods.
Other regulators jointly issuing this guidance include the Office of Comptroller of the Currency (OCC), Federal Reserve Board of Governors (FRB), and Federal Deposit Insurance Corp. (FDIC). To view the seven-page document, click here.
Additionally, NCUA Board Chairman Debbie Matz has issued Letter to Credit Unions (14-CU-08), encouraging credit unions to review the interagency guidance to ensure their practices align with NCUA’s risk management expectations.
State Controller’s Newsletter
The California State Controller’s Office has published its summer newsletter, which includes a reminder on the change to the threshold for aggregate reporting from $50 to $25, effective July 1, 2014.
For more information and clarification on this change, credit unions can review the California and Nevada Credit Union Leagues’ TIPs Bulletin 13-45 (October 2013).
The state controller’s newsletter also includes information and examples on properly reporting safe-deposit boxes, holders’ claims for reimbursement, and owner reunification efforts.
ACCESS COMPLIANCE BULLETINS TODAY
updated 08/24/15 10:09 AM
Plus: 'NCUA Report' Posted
As a reminder, “TIPS Bulletins” have transitioned to PolicyWorks and will continue as compliance bulletins on the PolicyWorks website.
POLICYWORKS COMPLIANCE BULLETINS
updated 08/18/15 08:39 AM
And, Integrated Disclosure Q&A Index
The latest PolicyWorks newsletter is now available, providing compliance bulletins, regulatory updates, educational opportunities, and helpful compliance tips. Click here to access the newsletter using your email address and California and Nevada Credit Union League members-only password. California and Nevada credit unions also have access to PolicyWorks compliance support at 844-731-6072 or California and Nevada credit unions also have access to PolicyWorks compliance support at 844-731-6072 or CANV@policyworksllc.com.