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Research & Compliance     

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Compliance

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When technical challenges or complex situations arise at your credit union, turn to the Leagues’ PolicyWorks. Our mission is to provide technical, compliance, operational, economic, and regulatory information in an understandable and easily accessible way.
     
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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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From the Editors of CU Weekly

HELOC GUIDANCE: 'END OF DRAW' PERIOD
updated 07/11/14 10:17 AM
Also, Unclaimed Property Newsletter
The National Credit Union Administration (NCUA)—along with three other federal financial regulatory agencies and the Conference of State Bank Supervisors (CSBS)—have issued joint guidance regarding home equity lines of credit (HELOCs) nearing their “end-of-draw” periods, which occurs when the principal amount of the HELOC must begin to be repaid.

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.

 
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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.

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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.

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