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The CAN-SPAM Act places restrictions on companies sending commercial electronic messages (CEMs) to people living in Canada.
Although the new anti-spam requirements will apply to U.S. credit unions that send marketing messages to members who reside in Canada, there is a grandfather clause for existing credit union members—and a safe harbor for emails that comply with the CAN-SPAM Act—that should help limit compliance burdens on U.S. credit unions.
For TIPs Bulletin 14-14, click here.
SAR Stats Report
The Financial Crimes Enforcement Network (FinCEN) has released the very first issue of SAR Stats (Suspicious Activity Reporting), the successor publication to By The Numbers.
FinCEN anticipates issuing more periodic updates to SAR data beginning this fall.
Update to Unclaimed Property Holder Handbook
The California State Controller’s Office has made updates to its Unclaimed Property Holder Handbook.
The following sections were updated: aggregate reporting; holder due diligence; and owner detail sheet (UDS-1) instructions.
For questions, contact the Holder Outreach and Compliance Unit at 916-464-6088 or UPDHolderOutreach@sco.ca.gov.
COMPLIANCE ROUNDUP: ALERTS, GUIDANCE
updated 10/06/15 09:09 AM
Plus, Flood Insurance Webinar
Federal credit unions can continue to make payday alternative loans (PALs) under changes to the Military Lending Act (MLA), which became effective Thursday, according to the Credit Union National Association (CUNA).
CFPB POSTS SPANISH CONSUMER BOOKLET
updated 09/28/15 02:11 PM
'Your Home Loan Toolkit'
The Consumer Financial Protection Bureau (CFPB) has posted a Spanish language version of its Home Buying Information Booklet—also known as the “special information booklet” or “settlement cost booklet”—as required under the Real Estate Settlement Procedures Act (RESPA), Regulation X, and Regulation Z.