Gavel and law book

Updates: CA and NV; NCUA Board Recap; CDFI, FinCEN, and CFPB

California Department of Business Oversight (DBO) Commissioner Manuel Alvarez is inviting licensees to submit creative ideas and suggestions to make the department more efficient, including where wet signature and/or notarization requirements force the DBO and credit unions into a paper-based system.

Read more
NCUA logo

NCUA September Board Meeting Recap

In addition to approving changes to its real estate appraisal rule during the September board meeting, the National Credit Union Administration (NCUA) Board received a briefing on the Share Insurance Fund Quarterly Report.

Read more
Congressional capitol building

Congress and NDAA: Bipartisan Group Stands Up for CUs

Today, a bipartisan group of 50 members of the House of Representatives sent a letter to their colleagues working on this year's National Defense Authorization Act (NDAA).

Read more
Capitol building in Sacramento

Governor Newsom Signs COVID-19 Employee Bills Into Law

This week, California Gov. Gavin Newsom signed into law two COVID-19 related employment bills — Senate Bill 1159 (authored by Senator Jerry Hill, D-San Mateo) and Assembly Bill 685 (authored by Assemblymember Eloise Gómez Reyes, D-San Bernardino).

Read more
Cash

CA and NV Credit Union Trends: What’s Really Going On?

An abundance of new lending in credit union mortgages and business loans is being met with an even higher level of incoming deposits, according to second quarter 2020 data compiled by the California and Nevada Credit Union Leagues. It means the industry’s total loans and deposits hit record highs in both states as COVID-19 inflicted economic pain on many households and businesses. But why?

Read more
Man holding money

This Week's Falling-Unemployment News for CA and NV

New data released this week shows California and Nevada’s respective job markets continued their slow and steady recoveries in August 2020 as the national economy continues climbing out of a recession caused by the COVID-19 pandemic.

Read more
helping hands

Greater Nevada CU Donates $30,000 to Help With Fire Relief Efforts

Greater Nevada CU has donated a total of $30,000 to three credit unions hit hard by recent wildfires and that are coordinating local fire relief efforts: Sierra Central CU, the Redwood CU Community Fund, and Rogue CU Foundation in Oregon.  

Read more
policyworks logo

Compliance Hotline Maintenance on Tuesday, Sept. 22

The PolicyWorks Compliance Hotline will be down for maintenance and unavailable on Tuesday, Sept. 22, starting at 2 p.m. PST. Users can still submit any compliance questions to CANV@policyworksllc.com.

Read more
Lap top and notepad

Virtual 'Hike The Hill' Attendees Tout Why This Year was so Successful

This year — more than ever — advocating for the credit union cause is critically important as the California and Nevada Credit Union Leagues held its first-ever virtual Hike The Hill event, or “D.C. fly-in” as it’s known.

Read more
Capitol building in Washington, D.C.

Congress in Session: Deal or No Deal on Economic Stimulus

With Congress back in session and the race to the November election on, the question over whether Congress will pass another stimulus bill is on everyone’s mind. Here are the facts about where things stand this afternoon (Wednesday, Sept. 16). These items are changing rapidly.

Read more
cdfi logo

Second Streamlined CDFI Round Now Open; Oct. 17 Deadline

The National Credit Union Administration (NCUA) opened its second application round for eligible credit unions that want to qualify to use the agency’s streamlined process for Community Development Financial Institution (CDFI) certification.

Read more
fincen logo

FinCEN Issues Final Rule Requiring Minimum Standards for Anti-Money Laundering Program

To ensure consistent Bank Secrecy Act (BSA) coverage across the banking industry, the Financial Crimes Enforcement Network (FinCEN) issued a final rule that requires minimum standards for anti-money laundering programs for financial institutions lacking a Federal functional regulator.  The final rule also extends customer identification program and beneficial ownership requirements to those banks.

Read more
091420deii.png

Credit Union DEI Practitioners Invited to Join Resource Network

Humanidei + O’Rourke has formed a Credit Union DEI Practitioner Network. Specifically designed for individuals working in credit unions, the Network provides a supportive and resourceful peer group for leaders who have been tasked with developing and integrating Diversity, Equity, and Inclusion strategies in their organizations. Current representation from California include Redwood CU, Farmers Insurance FCU, and SchoolsFirst FCU. San Francisco Fire CU, California Coast CU, Financial Partners CU, and SAFE CU all have had previous particpants. 

Read more
091420ftsi.png

Touchless Self-Service and Antimicrobial Solutions to Meet Consumer Expectations

Self-service went from being popular operational alternatives to the primary transactional platform to enable financial institutions to continue thriving in trying times. 

Read more
Newsletter and blog writing

Legislative Victories Highlighted in CA End-of-Session Summary

The 2020 legislative session in California began as any other. The California Credit Union League’s state advocacy team had prepared to run a state charter update bill and take positions on new legislation. Then it all came to a screeching halt in early March due to the COVID-19 pandemic.

Read more
Office and worker at desk

NCUA Webinar on CU and 'NeighborWorks' Partnerships

Credit unions can learn more about potential collaborations with NeighborWorks America during an upcoming free webinar hosted by the National Credit Union Administration (NCUA).

Read more
Firefighters putting out a fire

Foundation Collaborates with League; Redwood CU Fund; and NCUA

In response to the California wildfires, the National Credit Union Foundation has been working closely with the League to evaluate the disaster relief needs of credit union employees and volunteers across California. You can read the foundation’s news release here.

Read more
Joseph Sweeney, CEO of Eagle's Catch
Joseph Sweeney, CEO of Eagle's Catch

Greater Nevada CU Subsidiary Brokers First-Ever USDA CARES Act Loan

The first USDA Business and Industry CARES Act loan, intended to protect America’s small farms and businesses amidst the COVID-19 pandemic, went to an aquaculture farm in Iowa and was brokered by Carson City, NV-based Greater Commercial Lending (GCL), a subsidiary of Greater Nevada CU. These CARES Act loans provide working capital to help rural businesses prevent, prepare for, or respond to the effects of the coronavirus pandemic.

Read more
Board of director room

CCUL Board of Directors and Audit Committee Elections

Nominations for the California Credit Union League’s 2020-21 Board of Directors and Audit Committee elections opened on July 1, 2020. There were ONE (1) Asset Group C Director, TWO (2) At Large Director, and ONE (1) Audit Committee Member positions available this year.

Read more
wildfires

CUs Help Members, Communities as New Wildfires Reported

With new fires burning through forests and foothills across California, credit unions—though impacted—continue to serve their members and do their part to help affected communities.

Read more
League Awards Joe Schroeder
Eighteen credit union leaders, volunteers, up-and-comers, as well as credit unions and organizations—including this year’s Leo H. Shapiro Lifetime Achievement Award recipient Joe Schroeder, retired CEO of Ventura County CU—will be honored during the California and Nevada Credit Union Leagues’ virtual REACH 2020.

League, Kim Bannan, and Advocacy Awards Recipients to be Honored at Virtual REACH 2020

Eighteen credit union leaders, volunteers, up-and-comers, as well as credit unions and organizations—including this year’s Leo H. Shapiro Lifetime Achievement Award recipient Joe Schroeder, retired CEO of Ventura County CU—will be honored during the California and Nevada Credit Union Leagues’ virtual REACH 2020.

Read more
032420vero

Students’ Vulnerability for ID Theft…What Can CUs Do?

It is that time of year when students' vulnerability for ID theft attacks goes up exponentially as they head back to school.  And this year, they face a dramatically more substantial threat posed by the increased time they spend online taking virtual classes.

Read more
humaidei and o'rourke logo

DEI Tip of the Month: Brought to You by Humanidei + O'Rourke

Treat your diversity and inclusion efforts just as you would any other mission-critical business goal. This means setting clear goals, measuring progress toward those goals, and holding senior executives accountable for achieving these goals. This also means making sure the ownership of this initiative sits with a senior leader who has significant authority and influence over the organization.

DEI Tip of the Month: Brought to You by Humanidei + O'Rourke.

Capitol building pillars

CA Credit Unions Celebrate VICTORY; League Synopsis of AB 3088

After working with California Gov. Gavin Newsom over the past several weeks, his bill — Assembly Bill 3088 — passed on the floors of the California State Assembly and State Senate this past week and was immediately signed into law.

Read more
Worker at computer

Comments on Flood Insurance, QM, Reg Z; Upcoming FHFA Session

Comments are due in the coming weeks on multiple regulatory proposals that will affect credit unions, including the following:

Read more
policyworks logo

Reminder: ERM/Compliance Technology Town Hall

Does your compliance and risk team feel overwhelmed juggling multiple projects at once? Are you curious to learn how other credit unions are streamlining their compliance and risk programs?

Read more
policyworks logo

What COVID-19 Taught Us About CU Business Continuity Plans

Over the past several decades, as formalized business continuity plans (BCPs) achieved ubiquity in the credit union industry, financial cooperatives around the world have had several opportunities to put their preparations to the test. From core outages to hurricanes, each disaster after the next helped governance, risk and compliance (GRC) leaders finetune their BCPs for the next inevitable curve ball.

Read more
083120cusolutions.png

3 Best Practices for Using Digital Marketing to Promote Card Program

Almost half of credit users will use the same card for most purchases according to the Financial Brand. By taking advantage of digital marketing opportunities, you can help ensure your credit union’s card becomes members’ preferred all-purpose card. Digital marketing can help you make the best use of your marketing budget by directly targeting your audience with messaging that speaks to their needs and wants. This requires knowing how to find your audience, creating relevant content, and understanding digital data.

Read more
California capitol building

CUs Urged to Continue Sending Messages to CA Senators

The California Credit Union League is encouraging every credit union supporter and staff member to continue sending messages to their state Senators through Connect for the Cause regarding the devastating impact Assembly Bill 1436 would have on credit unions.

Read more
Writing on business document

The Latest on PPP, FHFA, Refi Fee, HMDA, Reg Z, BSA, and More

On Aug. 24 the U.S. Small Business Administration issued the 24th Paycheck Protection Program interim final rule (IFR). The IFR — Treatment of Owners and Forgiveness of Certain Nonpayroll Costs — addresses the ownership percentage that triggers the applicability of owner compensation rules for forgiveness purposes.

Read more
fire relief
Firefighters First CU’s charitable arm, the Fire Family Foundation, has donated to first responders comfort care bags filled with various necessities such as a toiletry bag with razor and shaving cream, and toothbrush and toothpaste.

Credit Unions Assist Those Impacted by CA Wildfires

As Northern California credit unions deal with staff being evacuated from their homes and the closure of branches due to mandatory evacuations or hazardous air quality, they are also pivoting to help those affected by the wildfires still raging in the region.

Read more
CUNA Awards

CA, NV CUs Win State Desjardins, Maxwell, Herring Awards

Four California credit unions and one Nevada credit union received first-place honors at the state level in the Desjardins Adult and Youth Financial Education, Dora Maxwell Social Responsibility Community Outreach, and Louise Herring for Philosophy in Action award programs. A total of six entries will now move forward to the national competition.

Read more
rate reset logo

Digital Deferment Technology and Reset Solutions

Millions of people have been financially affected by the recent circumstances of the coronavirus. Many of those people have looked toward their credit unions for help. The credit unions have not hesitated when answering the needs of their members and their communities. Many of the needs are request for loan modifications and forbearances. For most credit unions there is a back log of request due to the sheer volume and given the work from home environment or limited staff in the office.

Read more
Shoppers at a mall

Economist: As CA and NV Job Markets Recover, Data Still ‘Noisy’

New data released this week shows California and Nevada’s respective job markets continued their slow and steady recoveries in July 2020 as the national economy continues climbing out of a recession caused by the COVID-19 pandemic.

Read more
Keyboard keys

CU Supporters Urged to Send Second AB 1436 Message to Senators

As of Thursday evening, Assembly Bill 1436 had been referred from the California Senate Appropriations Committee to the Senate Rules Committee. The situation in Sacramento can always change rapidly at the end of session.

Read more
California wildfires
The numerous wildfires now raging are impacting credit unions throughout Northern California.

Wildfires in California Once Again Impacting Credit Unions

The numerous wildfires now raging in the state are impacting credit unions throughout Northern California.

Read more
Hand and pen taking notes

CCPA Regs, ‘CalSavers’ Changes, ATR-QM Rule, and BSA Updates

California Attorney General Xavier Becerra has announced approval by the Office of Administrative Law (OAL) of final regulations under the California Consumer Privacy Act (CCPA).

Read more
verafin logo

Defining Moments in the War on Financial Crimes

Fifty years ago, the law we now call the Bank Secrecy Act (BSA) was passed, and the war on financial crimes truly began.

Read more
081820lsc.png

Member Summer Safety with the Security of Prepaid Cards

In the midst of the pandemic, families still seek entertainment and adventure. With states in various phases of stay-at-home orders, families are forced to get creative and bring fun home for the summer.  However, because of the financial crisis and elevated occurrence of fraud, members are cautious and remain hesitant.  Members want a fun-filled summer, but need reassurance that their finances will remain secure.

Read more
Microphone

Credit Unions Ramp Up on CA’s AB 1436; NV Gov. Signs Liability Bill

California credit union staff, volunteers, and supporters have sent more than 4,000 Connect for the Cause messages to California state senators asking them to protect credit unions as Assembly Bill 1436 is scheduled to be heard in the California Senate Judiciary Committee on Tuesday of next week (Aug. 18).

Read more
Computer lap top

The Latest on SBA, PPP, NCUA, GSEs, BSA, CFPB, and FHLB

The U.S. Small Business Administration has released an interim final rule (IFR) that informs Paycheck Protection Program (PPP) borrowers and lenders of the process for a PPP borrower to appeal certain SBA loan review decisions to the SBA Office of Hearings and Appeals (OHA). The IFR establishes a new subpart L for 13 CFR part 134Click here to read the IFR.

Read more
Illustration of American worker

Mixed Trends for CUs as Industry Braces for Next Phase

Experts from CUNA Mutual Group and Callahan & Associates discussed this past week where U.S. credit unions have been during the first-half of this year, and where they may be going in late 2020 and early 2021.

Read more
RMJ Golf Classic 2020
L-R: The 2020 Richard Myles Johnson Foundation/Origence Golf Classic’s winning foursome—Chuck Morris, Jeff Madland, Scott Rains, and Bob Thompson of Eagle Community CU.

RMJ Foundation's 2020 Golf Classic Raises Approximately $80,000

Practicing COVID-19 precautions, the Richard Myles Johnson (RMJ) Foundation/Origence Golf Classic was held Aug. 10 at the Monarch Beach Resort in Dana Point, CA and raised approximately $80,000 for the state foundation for credit unions in California and Nevada. 

Read more
WCMS Colloquium
Western CUNA Management School’s first-ever virtual Colloquium featured presentations from two current WCMS faculty members as well as a former WCMS trustee. It culminated with a surprise collage of association and league presidents sharing their well-wishes to the WCMS students.

WCMS Holds First-Ever Virtual Colloquium

On the day that Western CUNA Management School (WCMS) third-year students would have celebrated their 2020 graduation, the school hosted its first-ever virtual colloquium instead due to the COVID-19 pandemic.

Read more
cfpb logo

CFPB Releases Small Dollar Lending FAQs

The Consumer Financial Protection Bureau (CFPB) has released FAQs on the Small Dollar Lending Rule. The CFPB had issued the final rule in July. The questions and answers pertain to compliance with the Payday Lending Rule and are a meant to serve as a Compliance Aid. To go along with the FAQs, the CFPB published a Policy Statement on Compliance Aids, that explains the CFPB’s approach to Compliance Aids.

In Memory: Pay Tribute to Those We Have Lost

During Virtual REACH 2020, the California and Nevada Credit Union Leagues will honor and remember those who had a significant impact on their credit union, credit union community, or credit union organization and who passed away in the last year.

Read more
Your CU Store

Your CU Store Continues to Serve CUs’ Regulatory Forms Needs

While safety and health continue to be our focus for both our employees and the credit union community, Your CU Store continues to be available to provide your credit union’s regulatory forms. Government authorities continue to recommend social distancing and limiting visits to public spaces, and many consumer-facing businesses continue to expand their online presence in order to continue meeting needs. While credit unions work diligently to serve their members during these challenging times, Your CU Store is working to ensure you don’t have added concerns about maintaining updated disclosures and compliance reviews.  

Read more
Sacramento capitol building

Situation Fluid in Sacramento and D.C. as CUs Await Next Moves

The situation remains fluid in Sacramento with the California Credit Union League engaging in major policy discussions to protect credit unions. The League is working tirelessly on Assembly Bill 1436 and will keep credit union leaders updated as this year’s complex legislative session winds down.

Read more
Business professional

Updates: NCUA Board, SBA’s PPP, FFIEC Statement, and More

This week, the Senate Banking Committee agreed by a voice vote to advance the nomination of Kyle Hauptman to join the National Credit Union Administration (NCUA) Board. Hauptman is currently a legislative staffer to Sen. Tom Cotton (R-AR).

Read more
080420humanidei.png

Podcast: "Extending Empathy" with Humanidei CEO

Humanidei CEO Jill Nowacki sits down with The CUInsight Experience podcast host Randy Smith (also co-founder of CUInsight.com) to discuss human capital, remote work, and efforts surrounding diversity, equity, and inclusion for credit unions across the country.

Read more
0728kasasa.png

Why Consumer Generations Don’t Tell the Whole Story

In 2001, an article called “Digital Natives, Digital Immigrants" by Marc Prensky discussed the educational needs for a new type of student. It talked about people who were raised with the internet, personal computers, computer games, email, and cell phones and because of that, viewed the world differently than their teachers who weren’t raised with such technology at their fingertips.

Read more
fincen logo

FinCEN: FAQs Regarding Customer Due Diligence Requirements

The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, issued responses to three frequently asked questions (FAQs) regarding customer due diligence (CDD) requirements for covered financial institutions. The FAQs clarify the regulatory requirements related to obtaining customer information, establishing a customer risk profile, and performing ongoing monitoring of the customer relationship.

Read more
Individual taking survey

Leagues Pivot Forward With Financial Data Update Survey

In California and Nevada, credit union leaders were also asked this week to take a few moments and complete the new Financial Data Update Survey.

Read more
Business professionals shaking hands

Comment Letter to DBO, NCUA News, and FASB Roundtables

The California Credit Union League has submitted a comment letter to the California Department of Business Oversight (DBO) on its proposed amendments to the California credit union regulations.

Read more
Hands on a lap top

The Latest in PPP, EIDL, FinCEN, Equifax Settlement

To support Paycheck Protection Program forgiveness, credit union leaders can join the Credit Union National Association tomorrow (Friday) at 12:30 p.m. (Pacific) for a discussion with Sen. Kevin Cramer (R-ND), member of the Senate Banking Committee.

Read more
Discussion over paperwork

League Acts Immediately as AB 1436 is Introduced in CA Assembly

Assembly Bill 1436 has been introduced in the California State Assembly. After credit unions defeated AB 2501 a few weeks ago, AB 1436 authors are now trying to pass very specific mortgage forbearance-related items.

Read more
fincen logo

Advisory: Cybercrime Exploiting the COVID-19 Pandemic

The Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert financial institutions to potential indicators of cybercrime and cyber-enabled crime observed during the COVID-19 pandemic. Many illicit actors are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic.

Read more
policyworks logo

Compliance Services Survey: Your Feedback is Important

The California and Nevada Credit Union Leagues are always looking to improve services to members, including compliance services. Please take a few minutes to complete a short survey on League member-benefit compliance services powered by PolicyWorks. The survey should only take about 5-8 minutes to complete and will be extremely helpful in understanding what is important to you and how compliance services might be improved. 

Click here to take the survey.

072820humanidei

Caregiving and COVID: Are Women Going to Lose Professional Gains?

For years, September has brought a steady rhythm to the workplace: As households get back to regular routines and summer trips come to an end, organization-wide meetings, conferences, and trainings come back to life. With the school year starting, many working parents find comfort in the schedule, knowing exactly when and where their children will be and how they will be occupied on any given day.

Read more
tom wolfe headshot

Boilerplate Series: Contractual Third-Party Beneficiaries

In the credit union vendor world, it is not unusual for a credit union to contract for services with a vendor, often a credit union service organization (“CUSO”), who in turn has contracted with some other third party who is the actual provider of the services. For purposes of this article, let’s assume we are dealing with a CUSO as the credit union vendor. Often a CUSO recognizes that another vendor (let’s call them Gumby Industries) can provide a significant value to the credit union space. So far, Gumby has either not recognized the value of the credit union market or has always dreamed of entering the credit union space (and rightfully so, as we all know) but cannot see a way to penetrate that market.

Read more
DBO letter

League Submits Comment Letter on DBO's Proposed Amendments to Regs

On Thursday, July 23, the California Credit Union League submitted a comment letter to the California Department of Business Oversight (DBO) on its proposed amendments to the California credit union regulations.

Read more
SBA

COVID-19 Update: SBA Guidance on Identification, Reporting of Suspicious Activity in EIDL

Read more
CFPB

CFPB to Hold Symposium on Cost-Benefit Analysis in Regulations

The Consumer Financial Protection Bureau (CFPB) will hold a symposium on the use of cost-benefit analysis in consumer financial protection regulation on July 29 at 6:30 a.m. (Pacific).

Read more
NCUA

NCUA Board Meeting to Be Held July 30

The National Credit Union Administration (NCUA) Board will meet Thursday, July 30, at 7 a.m. (Pacific).

Read more
FASB

FASB Reschedules Roundtables on Accounting Standard for Leases

The Financial Accounting Standards Board (FASB) has rescheduled a public roundtable discussion on the implementation of its accounting standard on leases for Sept. 18. The morning session will take place from 5:30 – 9 a.m. (Pacific), and the afternoon session from 10 a.m.-1:30 p.m. (Pacific).

Read more
Capitol Hill in Washington, D.C.

As Congress Debates Relief Bill, Leagues Keep CUs at Forefront

Congress returned from a recess this week, and passage of a massive stimulus bill to address the current state of the nation’s health and economic crises is top of mind. The California and Nevada Credit Union Leagues will provide regular updates in daily messages and the Advocacy Blog when consensus emerges.

Read more
Tri-County Chapter
Led by “Head Chef” Terrance Davis of SchoolsFirst FCU and “Head Sous-Chef” Evelyn Davis of Wescom CU, those who attended the July 23 Tri-County Chapter’s virtual cooking class learned how to make a delicious meal and helped raised funds for local food banks.

Tri-County Chapter’s Virtual Cooking Class Helps Local Food Bank

Thanks to the Tri-County Chapter, some 37 “sous-chefs” on July 22 learned how to make their own delicious meal—virtually. And in the process, the group raised much-needed funds for a local food bank.

Read more
Building pillars

SBA Updates, FinCEN Warning, and Credit Obligation Webinar

The U.S. Small Business Administration’s Office of Inspector General has issued “Lender Alert: Economic Injury Disaster Loans,” which states the SBA no longer offers advances on Economic Injury Disaster Loans (EIDL) as of July 11, 2020. Until July 10, eligible small business owners in all U.S. states were able to request an advance of up to $10,000.

Read more
Capitol building in Washington, D.C.

Registration for Virtual ‘Hike the Hill’ is Now Open

As most congressional offices have moved to virtual appointments, the California and Nevada Credit Union Leagues are excited to announce the first virtual “Hike the Hill”!

Read more
Shoppers in a mall

‘Delayed V-Shape’ Recovery Taking Place? We’ll Know Soon

Experian’s “Quarterly Economic Scenarios” forecast on July 21 was just one of several discussions percolating this month on how the U.S. economic recovery is taking shape and what might be in store for lenders, businesses, and consumers in the second half of 2020:

Read more
League Awards
L-R: Immediate Past California League Board Chairman and Financial Partners CU CEO Nader Moghaddam; 2019 Leo H. Shapiro Lifetime Achievement Award recipient Eileen Rivera; California and Nevada Credit Union Leagues President and CEO Diana Dykstra; and Nevada League Board Chairman and Silver State Schools FCU CEO Scott Arkills.

Don’t Delay: Submit Entries, Nominations for Leagues’ Awards Programs

The deadline for entries for the Credit Union National Association (CUNA) Dora Maxwell, Louise Herring, and Desjardins awards is fast approaching. Entries must be submitted by Friday, July 31. And the deadline to nominate worthy individuals for the California and Nevada Credit Union Leagues Awards program is coming up soon as well. Nominations are due Friday, Aug. 14. In addition, nominations are being sought for the Kim Bannan Eternal Flame Awards.

Read more
072120compliance.png

Governance, Risk, and Compliance Made Easy with ViClarity

PolicyWork's ViClarity helps credit unions automate governance, risk and compliance management through its end-to-end technology solution. With ViClarity, your credit union can maximize operational efficiencies, create a culture of accountability and transparency, and view a real-time report of risk areas so corrective action can be taken.

Read more
031119gstv

Get Back to Marketing with GSTV

A great deal of advertising has shifted online as people hunkered down at home. Yet essential businesses remained open, including gas stations and the convenience stores attached to them. GSTV—which broadcasts advertising and content at the pump—found that messaging on the platform’s 24,000 locations became essential communication. Gas Station TV (GSTV) reaches one-third of American adults each month and counts Nielsen, Comscore, IRI, Placed and others as data partners.

Read more
Hike the Hill

Leagues' ‘Hike the Hill’ Virtual Registration is Open

During this unprecedented pandemic, credit unions cannot take for granted the importance of our powerful grassroots voice. As most congressional offices have moved to virtual appointments, the California and Nevada Credit Union Leagues will hold its first virtual Hike the Hill.

Read more
Small Business Administration

COVID-19 Update: SBA on EIDL Advances; Community Advantage Recovery Loans

The U.S. Small Business Administration’s Office of Inspector General has issued “Lender Alert: Economic Injury Disaster Loans,” which states the SBA no longer offers advances on Economic Injury Disaster Loans (EIDL) as of July 11, 2020. Until July 10, eligible small business owners in all U.S. states were able to request an advance of up to $10,000.

Read more
Survey

Next Phase of Leagues' Weekly COVID-19 Impact Survey

As the California and Nevada Credit Union Leagues move to the next stage of pandemic advocacy and awareness efforts, we want to thank credit unions for their commitment to completing our COVID-19 Impact Survey each week.

Read more
L-R: Kinecta FCU CEO Keith Sultemeier and Xceed Financial CU CEO Teresa Freeborn
L-R: Kinecta FCU CEO Keith Sultemeier and Xceed Financial CU CEO Teresa Freeborn

Kinecta and Xceed Financial Announce Plans to Merge

Kinecta FCU and Xceed Financial CU announced that the two credit unions have reached a tentative agreement to merge. If regulatory authorities and Xceed’s membership approve the merger, it is planned to be completed before the end of first quarter of 2021.

Read more
Face mask and sanitizer

DBO to Monitor Compliance with Face Covering Guidance

In accordance with Gov. Gavin Newsom's directive on face coverings, the California Department of Business Oversight (DBO) is reminding all licensees to make sure employees and customers fully comply at all times with the latest guidance on face masks from the governor and the California Department of Public Health (CDPH).

Read more
fincen logo

FinCEN: Beware Convertible Virtual Currency Scam Involving Twitter

The Financial Crimes Enforcement Network (FinCEN) warns credit unions of a high-profile scam exploiting Twitter accounts to solicit fraudulent payments denominated in convertible virtual currency (CVC).

Read more
Hands on a laptop computer

Supervisory Priorities; Call Reports; and DBO Assessment Rate

The National Credit Union Administration’s Letter to Credit Unions 20-CU-22 updates the agency’s 2020 supervisory priorities to reflect economic conditions that emerged in response to the COVID-19 pandemic, as well as various statutory and regulatory changes that have occurred since March 2020.

Read more
Workers at a desk

NCUA Nominee Hearing; PPP Updates; and Breach Settlement

The Senate Banking Committee has scheduled a confirmation hearing for July 21 to consider Kyle Hauptman as President Donald Trump’s nominee to the National Credit Union Administration Board.

Read more
Paycheck Protection Program

Paycheck Protection Program: ‘Who Got What and How Well Did the Loans Perform?’

Paycheck Protection Program (PPP) loans facilitated by U.S. credit unions helped retain 85 jobs per $1 million in loans and required only $11,792 to retain one job, according to a recent comparison of lenders by Forbes (see “PPP Loans: Who Got What And How Well Did The Loans Perform?”).

Read more
NCUA

NCUA Board Nominee’s Confirmation Hearing Scheduled for July 21

The Senate Banking Committee has scheduled a confirmation hearing for July 21 to consider Kyle Hauptman as President Donald Trump’s nominee to the National Credit Union Administration Board.

Read more
Equifax

Equifax Data Breach Settlement Claims Website Now Available

For credit unions involved in the Equifax data breach settlement, a claims website is now available here.

Read more
Small Business Administration

COVID-19 Update: PPP, CFPB, and NCUA Priorities

The U.S. Small Business Administration issued Procedural Notice 5000-20036 this week updating 1502 Reporting, the monthly reporting requirements for the Paycheck Protection Program. The 1502 report will be due to the Fiscal Transfer Agent (FTA) (Colson Services) by the 15th of each month. For this month only (July 2020), lenders will be given a two-day grace period to submit the 1502 to the FTA. You can read the procedural notice here.

Read more
policyworks logo

PolicyWorks: Manage Governance, Risk, and Compliance

One-Stop Audit, Risk & Compliance Technology Solution

How many platforms and/or spreadsheets are helping your credit union manage audit, risk, compliance and governance today? PolicyWorks, the Leagues’ compliance services partner and provider, and the Leagues can help streamline these processes with ViClarity. 

Read more
071420cmg

Why This May Be the Perfect Time to Set Up a Charitable Foundation

Even if your credit union is well established as community benefactor, in times of intense turmoil you may feel called upon to stand up and make a new, visible act of leadership and service. This may be a perfect time to create a charitable foundation and to use it as a platform to engage and support your community on behalf of your employees and members.

Read more
Handshake

Caltech Employees FCU and Kings FCU Join the League

The California Credit Union League would like to extend a warm welcome to Caltech Employees FCU and Kings FCU — both of which recently rejoined the League as members!

Read more
Board of directors meeting

Accepting Nominations for NV Credit Union League Board

Nominations are now being accepted for candidates for the Nevada Credit Union League Board of Directors. There are two director positions available for election with a new term expiration of 2023.

Read more
Skyscraper buildings

This Week’s Recap: NCUA’s FOM, CFPB, PPP, and More

On June 29, the U.S. Supreme Court denied the American Bankers Association’s petition to review the D.C. Circuit Court of Appeal’s decision on the National Credit Union Administration’s field-of-membership rules. This ends nearly four years of uncertainty and helps the NCUA foster greater financial inclusion for all Americans.

Read more
Capitol building in Washington, D.C.

Congress: Next Phase of COVID-19 Relief and Reg Flexibility  

Congress has adapted to the "new normal." While members of Congress are physically out of Washington, D.C., they are working to advance policy.

Read more
A news consumer on mobile tablet

CUs Updated on Important CA and NV State Highlights

This week, the California Assembly announced it is postponing its return from summer recess after several legislators and staffers tested positive for the Coronavirus. Assembly Speaker Anthony Rendon informed members they would not be coming back to the capitol in Sacramento on July 13 as originally planned. There is no scheduled return date yet.

Read more
Consumer Financial Protection Bureau

CFPB Issues Final Rule on Payday Loans

On July 7, the Consumer Financial Protection Bureau (CFPB) issued a final rule concerning payday loans in order to maintain consumer access to credit and competition in the marketplace. The final rule rescinds the mandatory underwriting provisions of the 2017 rule after re-evaluating the legal and evidentiary bases for these provisions and finding them to be insufficient. The final rule does not rescind or alter the payments provisions of the 2017 rule.

Read more
NCUA

NCUA’s Next Steps After Court Denies ABA’s FOM Petition

On June 29, the U.S. Supreme Court denied the American Bankers Association’s petition to review the D.C. Circuit Court of Appeal’s decision on the National Credit Union Administration’s (NCUA) field-of-membership rules. This ends nearly four years of uncertainty and helps the NCUA foster greater financial inclusion for all Americans.

Read more
U.S. Capitol

Congressional Update: Next Phase of COVID-19 Relief

Congress has adapted to the new normal. While members of Congress are physically out of Washington, D.C., they are working to advance policy.

Read more
California capitol

CA Legislature Delays As League Engages in New Legislation

On Monday, July 6, the California Assembly announced it was postponing its return from summer recess after several legislators and staffers tested positive for the Coronavirus. Assembly Speaker Anthony Rendon informed members they would not be coming back to the capitol in Sacramento on July 13 as originally planned. There is no scheduled return date yet.

Read more
07082020vero.png

An Opportune Time for CUs to Protect and Defend Members

As the country continues its battle against the COVID-19 pandemic, there is a war being waged against consumers by criminals who are finding insidious and ingenious ways to wreak havoc.

Read more
fincen logo

Advisory on COVID-19 Imposter Scams and Money Mule Schemes

The Financial Crimes Enforcement Network (FinCEN) issued an advisory today to alert financial institutions to potential indicators of imposter scams and money mule schemes, which are two forms of consumer fraud observed during the COVID-19 pandemic. The advisory contains descriptions of these scams and schemes, financial red flag indicators for both, and information on reporting suspicious activity.

Read more
092329compliance.png

Consumer Compliance Outlook Latest Issue is Now Available

The Federal Reserve’s (FRB) latest issue of Consumer Compliance Outlook is now available. This issue, which focuses solely on COVID-19 topics, contains the following articles and features:

Read more
fincen logo

FinCen Guidance: Due Diligence Requirements under BSA for Hemp-Related Business Customers

The Financial Crimes Enforcement Network (FinCEN) has issued a guidance to address questions related to Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regulatory requirements for hemp-related business customers. 

Read more
eltropy logo

Eltropy Wins Top Honors From the Nation’s Top Industry Association

Eltropy, a messaging-based platform that enables credit unions to communicate with members via text, has been named the industry-leading text messaging solution by CUNA Strategic Services (CSS). Additionally, Eltropy’s service-oriented approach to its credit union customers during the COVID-19 pandemic has proven especially valuable to the industry.

Read more
063020lsc.png

How CUs Can Use a Credit Program to Help Members Navigate Uncertain Times

When unexpected events happen, people need to be creative and flexible, but they also need a secure place to stand. In many ways, credit unions are that place for their members. Credit unions regularly connect with members, helping them find solutions to financial needs as they work to achieve life goals. When uncertain times bring financial challenges for members, credit unions are well-positioned to help make a credit card program an effective part of the solution for moving forward.

Read more
NCUA logo

NCUA Meeting Recap: MDI, NGN, and RFI on Exam Tech

During this week’s National Credit Union Administration (NCUA) board meeting, Chairman Rodney Hood said onsite exams will not resume on July 6, as previously announced, due to current COVID-19 activity. 

Read more
NCUF logo

Foundation’s Grant Cycle Focused on Financial Health, Well-Being

The National Credit Union Foundation launched its 2020 Grant Cycle, with two opportunities credit unions can apply for. The deadline for credit unions to submit applications is July 15  

Read more
Hands shaking

Dykstra and Several CU System Leaders on COVID-19 Task Force

The Credit Union National Association (CUNA) announced the formation of the Credit Union System COVID-19 Restart and Recovery Task Force, with California and Nevada Credit Union Leagues President and CEO Diana Dykstra included as one of several task force members.

Read more
Pen signing document

Latest CA and NV Reg Issues in Focus as CUs Serve Members

This week, the commissioner of the California Department of Business Oversight (DBO) issued proposed amendments that seek to modernize credit union regulations to reflect changes to related state and federal laws; streamline the application process for out-of-state credit unions that apply to operate in California; and to allow credit unions a greater choice of permissible investments.

Read more
Marci Francisco
Premier America SVP of Member Experience Marci Francisco

Lessons in Leadership: Q&A with Premier America CU's Marci Francisco

Editor's Note: Marci Francisco is the senior vice president of member experience at Premier America CU, a position she has held since April 2019. Here, she answers Callahan’s leadership questions about her credit union’s response to the coronavirus pandemic for CreditUnions.com. 

Read more
062420verafin.png

Money Mules Moving Illicit Proceeds from COVID-19-Related Crimes

With millions of dollars stolen from consumers in the first half of 2020 through COVID-19-related fraud scams, criminals are exploiting money mules to launder the illicit proceeds. Learn more about sophisticated mule schemes during the pandemic, and why a consolidated fraud and AML platform is essential to fight back.

Read more
cmg logo

CUNA Mutual Group Discovery Conference Registration Open

Registration is now open for CUNA Mutual Group's Discovery Conference 2020!

Read more
U.S. Supreme Court building

Context for CUs as Supreme Court Rules on 'DACA' Case

As the U.S. Supreme Court ruled on Thursday in a 5-to-4 decision that President Donald Trump had illegally ended the Deferred Action for Childhood Arrivals (DACA) program, some credit unions may be looking for insight.

Read more
Building pillars

CUs Defeat AB 2501, Amplifying Movement’s Voice in Sacramento

California credit unions have defeated Assembly Bill 2501! The bill will not be advancing to the state senate. It was not brought up for reconsideration on the California Assembly floor Thursday morning, meaning it will fail to meet the house-of-origin deadline.

Read more
Man using magnifying glass on document

The Latest Updates on NCUA, PPP, SBA, FHFA, and CFPB

The National Credit Union Administration (NCUA) Board will meet on June 25 at 7 a.m. (Pacific). Its agenda includes: 1) Board Briefing, Minority Depository Institution Annual Report; 2) Board Briefing, NCUA Guaranteed Notes Oversight Program; 3) Request for Information, Strategies for Future Examination and Supervision Utilizing Digital Technology; 4) Final Rule, Technical Amendments to NCUA’s Rules; and 5) Proposed Rule, Part 702, Risk-Based Net Worth.

Read more
Open Your Eyes campaign art

CU Awareness Initiative to Launch Statewide in California

The credit union movement’s Open Your Eyes Awareness Initiative (OYE) launched statewide in California on July 1!

Read more
Greater Nevada Credit Union
Joe and Keli Najera, owners of local food truck Kenji’s, were among those honored by Greater Nevada CU’s A Greater Good campaign. Here they are being interviewed by Greater Nevada CU Community Outreach Supervisor Michelle Hale.

Greater Nevada CU’s “A Greater Good” Project Showcases Community Heroes

For the past few weeks, Greater Nevada CU has shone the spotlight on those making a difference in the community via its “A Greater Good” project.

Read more
tom wolfe photo

Do We Need COVID-19 Releases for Our Next Event?

As state and local health authorities start relaxing restrictions on group gatherings that were put in place during the COVID-19 pandemic, credit unions and CUSOs will likely want to start sponsoring events, conferences and meetings for their members and clients.  Of course, top on the sponsor’s list will be taking steps to accommodate social distancing, wearing masks, disinfecting surfaces, providing notices and reminders throughout the activity consistent with government protocols and overall ensuring compliance with the Center for Disease Control (CDC) and state and local orders, guidelines and protocols in an effort to prevent the spread of COVID-19 during the activity.  Along with these best (or required) practices, the common question being asked by sponsors of events, conferences, meetings and the like is whether participants should be required to sign a release of any claims (i.e., not sue) the sponsor if the participant contracts COVID-19 at the event.  

Read more
061620kasasa.png

Using Data to Build Deeper Consumer Relationships

In this digital age, and especially in the past couple of months, you may have asked yourself how you can build deep relationships with your account holders if they never come into a branch. Did relationships die out to be replaced with faceless data?  

Read more
policyworks logo

PolicyWorks Webinars: Quarterly Town Hall; Business Continuity Plans

PolicyWorks, the Leagues’ compliance service provider and an exclusive benefit of your Leagues membership, is hosting two upcoming webinars:

Read more
Sacramento state capitol building

League Urges Final Push on AB 2501; Vote Scheduled Monday

A vote on Assembly Bill 2501 has been postponed until this coming Monday in the California State Assembly. This gives the bill’s author and proponents the entire weekend to persuade assemblymembers who are on the fence about the bill.

Read more
Working on laptop

Forbearance Guidance, FOM Update, PCA Reg Relief, and More

The Consumer Financial Protection Bureau and the Conference of State Bank Supervisors have issued joint guidance to mortgage servicers to assist in complying with CARES Act provisions granting a right to forbearance to consumers impacted by the COVID-19 pandemic.

Read more
controller logo

Unclaimed Report and Remittance Due Date Extended

The California State Controller's Unclaimed Property Division has published its Spring 2020 "Newsletter for Holders". Credit unions should take note of this article extending the final Remit Report and remittance due date from June 15, 2020 to Aug. 15, 2020 due to the COVID-19 crisis.

061020cmg.png

Meeting Members Where They Are

As I sit on my porch enjoying some sunshine this afternoon, I would normally say “what a wonderful day, and all is well in the world.” But when I face the reality of the impacts of COVID-19, myself in isolation, it does not feel like a wonderful day. I worry about my aging parents; I wonder about my grandparents and the risks they face just going to the grocery store; and I think about the uncertainty I am living with every day.

Read more
Government capitol building steps

CUs and Employees Urged to Join ‘NO on AB 2501’ Campaign

Assembly Bill 2501 in the California State Assembly remains a threat to the credit union movement — and the California Credit Union League needs your immediate help to defeat it. The bill requires credit unions to offer inflexible lengthy forbearances on mortgages up to Jan. 1, 2022 and lengthy forbearances on auto loans. It would significantly draw down levels of capital, preventing credit unions from serving their communities and potentially causing layoffs or even mergers.

Read more
Speaker at a podium in front of audience

Important Updates: CCPA, NCUA, Fannie-Freddie, Fed and CFPB

California Attorney General Xavier Becerra submitted final proposed regulations under the California Consumer Privacy Act (CCPA) to the California Office of Administrative Law (OAL). The regulations will provide guidance to businesses on how to comply with the CCPA and will enable consumers to exercise new rights over their personal information.

Read more
infosight.png

InfoSight New Topic: Back to Work Best Practices

While many states are beginning to relax some of the “stay at home” orders and credit unions are thinking about how to safely get their teams back into the office and protect their members, InfoSight, the League’s online compliance resource, has a new topic under the COVID-19 – Coronavirus channel called Back to Work Best Practices.  Helpful resources include:

Read more
060220kasasa.png

Boosting Acquisition and Retention with Digital Onboarding

As people’s lives are turning upside down and many are staying home due to the COVID-19 pandemic, Kasasa's B2C marketing experts found that internet searches for online account opening have increased in the last week alone.

Read more
Business professional at a desk

CU Structure Diagram, PPP Update, Reopening Guidelines and More

The California Credit Union League has created a two-page diagram — "Credit Unions: Structure, Capital, Liquidity, and Economic Effects" — to help educate California assemblymembers and senators whenever the opportunity arises during this difficult period as credit unions continue serving their members.

Read more
infosight logo

InfoSight NEW TOPIC: Remote Work;Telecommuting

new InfoSight topicRemote Work - Telecommuting, has been added to the Employment Channel. As more credit unions continue to operate and consider a future for remote staff and telecommuting, InfoSight has combined its resources on the topic for easier access. In addition, a Remote Worker Risk Assessment was also created and has been added as an additional resource on that topic. 

Worker illustration

Job Market Exposes Toughest Part of Members’ Recovery: Realignment

“Some job skills in demand last week could be out of style next week,” said John Hawkins as he reflected on how the Coronavirus pandemic is shaking up local labor markets. “Different states will have different dynamics, and there will be a lot of variations due to different industries.”

Read more
Mike Poirier
Patelco CU Vice President of Consumer And Commercial Loans Mike Poirier

Patelco CU: Helping Small Businesses Tap Into PPP Funds

Editor's Note: This is an excerpt of an article that appeared originally on CreditUnions.com and features a roundup on the successes and challenges credit unions around the country faced trying to ensure business members could tap into Paycheck Protection Program funds. Below is Patelco CU's story: 

Read more
052720lsc.png

How to Keep Members Going with Prepaid Cards

If you’re not already offering a prepaid product, now would be a good time to start. With the game-changer of COVID-19, cashless payment methods are becoming increasingly important as people have been staying home and buying food and other items online.

Read more
Business professional writing on paper

NCUA Actions, President’s Order, FHFA, FinCEN, and HMDA

The National Credit Union Administration (NCUA) Board has issued one proposed rule and one interim final rule (IFR).

Read more
Gavel and law book

AB 2501, CA Consumer Law, PPP, and Congressional Update

As the California Credit Union League remains committed to defeating Assembly Bill 2501 and protecting credit unions at all cost, the League worked to get the bill added to the Cal Chambers’ infamous Job Killer list. The annual list includes the worst of the worst when it comes to bills that will harm employers, and bills that are deemed a “job killer” have traditionally faced a steep uphill battle.

Read more
PremierOne CU
PremierOne CU staff kept safe while serving members during COVID-19 crisis.

PremierOne CU Provides Member, Community Support Amid COVID-19 Crisis

When the Coronavirus outbreak occurred, PremierOne CU responded swiftly by focusing efforts on supporting the community the San Jose-based credit union serves.

Read more
ncua logo

Interagency Lending Principles for Offering Responsible Small-Dollar Loans

The federal financial institution regulatory agencies issued principles for offering small-dollar loans in a responsible manner to meet financial institutions customers’ short-term credit needs.

Read more
041420duanetyler.png

Is This Subpoena Valid?

Parties to litigation have a right to engage in “pretrial discovery” to obtain documents and testimony that might be relevant to their claims and defenses. Relevant discovery often includes the assets of one of the parties. 

Read more
financialcrimesenforcementnetwork

Advisory on Medical Scams Related to COVID-19 and Companion Notice Filing Instructions

The Financial Crimes Enforcement Network (FinCEN) issued an advisory to alert financial institutions to rising medical scams related to the COVID-19 pandemic. This advisory contains red flags, descriptions of COVID-19 related medical scams, and information on reporting suspicious activity. This is the first of several advisories FinCEN intends to issue concerning financial crimes related to the COVID-19 pandemic.

Read more
Capitol building pillars

California DBO Proposal, Nevada Guidance, and More

The California Credit Union League has shared its concerns in a letter to Governor Gavin Newsom’s office regarding the proposal within his January budget to restructure the Department of Business Oversight (DBO) into what many in financial services have described as “California’s Consumer Financial Protection Bureau” (a miniature state version of the CFPB).

Read more
verafin logo

Financial Crime Management for CUs Webinar

Strengthen your compliance programs and fight financial crime with Verafin.

Verafin’s Financial Crime Management platform leverages machine learning and artificial intelligence, in highly-targeted detection scenarios that are enriched with open-source and third-party data and provide cross-institutional analysis and collaboration through the power of the Verafin Cloud. The result? Higher-quality alerts, expedited investigations, and richer, more detailed reporting.

Read more
Business professional doing analysis on mobile tablet

Important Agency Updates, News, Resources, and Tools

A virtual roundtable discussion entitled “Update From Prudential Regulators” was held on May 13 and is now archived for viewing. Panelists included Rodney Hood, chairman of the National Credit Union Administration (NCUA), and regulatory officials from the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the Federal Reserve.

Read more
Santa Cruz Community CU
Santa Cruz Community CU staff

Santa Cruz Community CU Helps Small Businesses Get Through COVID-19 Crisis

When the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) launched, Santa Cruz Community CU—already an SBA lender for some time—immediately set to work.

Read more
cmg logo

Don’t Pause DEI

Credit unions are more vital now than ever before. They are on the front lines, serving as a sheltering tree and a safe haven for the financial health and well-being of their members and their communities.

Read more
cfpb logo

CFPB Issues Amendments to the Remittance Transfer Rule

The Consumer Financial Protection Bureau (CFPB) has issued a final rule amending the Remittance Transfer Rule. In light of the expiration of a statutory exception in July 2020, the amendments allow banks and credit unions to provide estimates of certain fees and the exchange rates related to remittance transfers if they meet certain conditions. The final rule also increases the threshold that determines whether an entity is subject to the Remittance Transfer Rule. The final rule is available here.

Read more
The Leagues are advocating for credit unions around the clock with members of Congress, such as Rep. Brad Sherman (D-CA), and many others during the current COVID-19 crisis.
The Leagues are advocating for credit unions around the clock with members of Congress, such as Rep. Brad Sherman (D-CA), and many others during the current COVID-19 crisis.

State and Federal Update: TDR, Workers’ Comp, and Garnishments

The California Credit Union League sent a letter to House Financial Services Committee Chairwoman Maxine Waters this past week outlining the League’s priorities for the next Coronavirus relief package. The House is assembling its package even though it is technically out of session.

Read more
Outside of Consumer Financial Protection Bureau headquarters

Bureau Issues PPP FAQs; FHFA Extends Processing Flexibility

The Consumer Financial Protection Bureau (CFPB) has issued clarifying FAQs (frequently asked questions) to support small businesses that have applied for a loan from their financial institution under the Small Business Administration’s Paycheck Protection Program (PPP).

Read more
logo cfpb

CFPB: Clarifications to Support Small Businesses Applying for PPP Loans

The Consumer Financial Protection Bureau (CFPB) issued clarifying FAQs to support small businesses who have applied for a loan from their financial institution under the Small Business Administration’s (SBA) Paycheck Protection Program (PPP).

Read more
In response to the CARES Act, GCL has increased staffing and launched technological enhancements to simplify and streamline the PPP application process. The company has also expanded its relationships with third-party partners to ensure PPP loans are funded in a timely manner. GCL has been working to help all applicants regardless of whether the company has an existing relationship with those businesses.
Greater Nevada CU CEO Wally Murray

PPP Success Story: Greater Nevada CU Processes $566.4 Million in Loans

From the start of the COVID-19 crisis, it was clear to Greater Nevada CU and its wholly owned subsidiary, Greater Commercial Lending (GLC),  that small businesses in Nevada and across the nation would need assistance to help them navigate through the tough financial circumstance brought about by the pandemic and economic fallout.

Read more
Rep. Linda Sanchez, D-CA
Rep. Linda Sanchez, D-CA

Congresswoman Petitions for FCU Access of Payroll Tax Credit

At the request of the California and Nevada Credit Union Leagues and the Credit Union National Association (CUNA), Rep. Linda Sanchez (D-CA) — a leading member of the House Ways and Means Committee (the tax committee) — joined with Rep. Ron Estes of Kansas to send a letter to Treasury Department Secretary Steven Mnuchin petitioning for a change in guidance to allow federal credit unions access to the payroll tax credit within the Families First Coronavirus Response Act.

Read more
Regulatory books

Update: NCUA, Senate Banking Comm., CFPB, FHFA, and Treasury

The National Credit Union Administration (NCUA) has submitted a request letter to the chairman of the Senate Banking Committee. The letter outlines the agency’s actions to aid credit unions to date, as well as activity it deems necessary in legislative actions.

Read more
Capitol building in Sacramento, CA

Requesting CA Guidance: Garnishment, Liens, and Right of Setoff

To help credit unions avoid major operational and compliance challenges, the California Credit Union League has requested that the California Department of Business Oversight (DBO) bring recognition of an important CARES Act stimulus issue to the attention of Gov. Gavin Newsom’s office — namely member garnishment, liens, and right of setoff.

Read more
cfpb logo

CFPB: Mortgage Loan Transfer Process To Prevent Consumer Harm

The Consumer Financial Protection Bureau (CFPB) outlined practices to provide mortgage servicers clarity, facilitate compliance, and prevent harm to consumers during the transfer of residential mortgages.

Read more
cu raterest

CU RateReset Offers 50% Off Subscription Fees During COVID-19

The National Credit Union Administration (NCUA) is encouraging financial institutions to offer loan modifications to help mitigate financial burdens on their members and communities.

Read more
kasasa logo

KASASA: No Licensing Fees Until 2021 for League Members

Having a great website and online account opening is critical in a time when members can’t get access to branches. Kasasa offers custom and turn-key solutions for online and in-branch digital account opening, as well as responsive-website design that adheres to the best regulatory and security practices. Credit unions that purchase Kasasa’s website solution (First Branch) and/or its On-Line Account Opening solution (INMO+) between now and June 1, 2020 will pay no monthly licensing on those products until 2021.

Read more
Pen signing a document

PPP Lenders: Be Ready to Apply Monday; Funds Will Go Fast

Paycheck Protection Program (PPP) loan applications will be accepted at 7:30 a.m. (Pacific) this Monday, according to a statement by Treasury Department Secretary Steven Mnuchin and Small Business Administrator Jovita Carranza.

Read more
Capitol building in Sacramento, CA

Credit Union Advocacy in Action During Pandemic Crisis

California Gov. Gavin Newsom signed an executive order on April 23 that exempts garnishment for any individuals receiving federal, state or local government financial assistance in response to the COVID-19 pandemic.

Read more
Government building pillars

From States to Congress: Looking Out for CUs and Members

The California Credit Union League — along with the California Community Bankers Network — has sent a letter to Gov. Gavin Newsom requesting that he delay the implementation of the California Consumer Privacy Act (CCPA) until Jan. 2, 2021.

Read more
policyworks logo

Latest PolicyWorks Newsletter Now Available

The latest PolicyWorks newsletter is now available! The newsletter details several recent NCUA final rules, as well as other important articles regarding recent changes to California laws. Please check your email, or click here to access the newsletter using your email address and your California or Nevada Credit Union League members-only password.

Read more
turbo tax logo

TurboTax Extends Discounts Through Oct. 15, 2020

On March 20, 2020, the IRS officially extended the federal income tax filing deadline from April 15, 2020 to July 15, 2020. Since members are unable to meet face-to-face with a tax specialist, they will likely need an option to complete and file their tax return remotely, which they can do with TurboTax. In addition, TurboTax discounts are available through Oct. 15, which is especially helpful to members who may need extensions.

To get started or to learn more, contact Leagues Vice President of Credit Union Solutions and Membership Tonja Wheatley at 909-212-6023 or tonjaw@ccul.org.

 

Free Text Messaging Service for CUs from Eltropy

In light of the current crisis, Eltropy is offering free text messaging for 90 days to the first 25 credit unions. Setup, implementation, and platform fees will be temporarily waived so that credit unions can use the platform to reach out to employees and members.

To get started or to learn more, contact Leagues Vice President of Credit Union Solutions and Membership Tonja Wheatley at 909-212-6023 or tonjaw@ccul.org.

Travis CU
Travis CU CEO Barry Nelson held Zoom meetings to let organizations, such as• United Service Organizations (USO) Northern California-Travis AFB, know they were selected as recipients of a donation from the credit union.

Travis CU Donates $1 Million in Support of Community Partners Amid COVID-19

Travis Credit Union has launched and implemented its $1 million philanthropic initiative, which was disbursed to local organizations working to provide COVID-19 related relief to non-profits primarily focused on services in the areas of education, youth/family, food banks and small business support. The nearly 100 non-profits in the counties of Solano, Napa, Contra Costa, Merced, and Yolo were notified via personal phone calls, including several from Barry Nelson, president and CEO of Travis CU.
Read more
ffiec logo

FFIEC Announces Federal Disclosure Computational Tools

The Federal Financial Institutions Examination Council (FFIEC) announced the availability of FFIEC Federal Disclosure Computational Tools, including the Annual Percentage Rate (APR) Computational Tool and the Annual Percentage Yield (APY) Computational Tool. The tools will assist financial institutions in their efforts to comply with the consumer protection laws and regulations, including verification of compliance with the Military Annual Percentage Rate (MAPR) limits under the Military Lending Act.

Read more
Bite of Reality

RMJ Foundation Unveils Bite of Reality Remote

The Richard Myles Johnson (RMJ) Foundation has launched Bite of Reality Remote to provide youth financial education at a time when schools and communities are practicing social distancing due to the COVID-19 pandemic.

Read more
Fist bump in the office by colleagues

CUs Step Up for Members as Communities Respond to Pandemic

UPDATE: So far more than 350,000 credit union members have been helped, over 330,000 loan extensions made, and $31.4 million provided in emergency loans, according to weekly survey data collected by the California and Nevada Credit Union Leagues.

Read more
Notepad and pen

State Update: Committees Make CU Request; CCPA Enforcement

The California Credit Union League received a letter from four committee chairs in the California State Assembly and Senate requesting that credit unions refrain from using members’ federal stimulus funds to offset delinquent loan payments or other past-due fees — and to make reasonable efforts to make those funds available to members as soon as possible.

Read more
Business workers at desk

COVID Operations: NCUA, California DBO, and Nevada FID

The National Credit Union Administration (NCUA) Board held its third open meeting of 2020 on April 16, using a live audio webcast and approved three items:

Read more
041620hmda.png

CFPB Issues 2020 HMDA Final Rule

The Consumer Financial Proection Bureau (Bureau) issued a final rule amending Regulation C to adjust the thresholds for closed-end mortgage loans and open-end lines of credit.

Read more
U.S. dollar bills

CU Economist on Unemployment, Liquidity, Members, and the Fed

As the COVID-19 pandemic throws off the trajectory of loans, deposits and other best-laid plans, the post-crisis economic conversation for credit unions begins right now according to Sonoma State University Economist and Redwood CU Board Member Robert Eyler.

Read more
041620supplies.png

Need COVID-19 Emergency Supplies?

In the midst of the COVID-19 crisis, some credit unions may be struggling to find supplies, including face masks and hand sanitizers that are necessary to keep employees and members safe. Here is a quick list of suggested online suppliers. Inventories and delivery times may fluctuate rapidly, and credit unions are encouraged to regularly monitor their own stock.

Read more
ncua logo

Regulators Release Updates to BSA/AML Examination Manual

The Federal Financial Institutions Examination Council (FFIEC) released several updates to the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) examination manual. The manual is used to evaluate compliance with the Bank Secrecy Act and anti-money laundering requirements.

Read more
Duane Tyler headshot

Can Litigation Result from COVID-19 Deferred Mortgage Payments?

As a result of the Covid-19 pandemic, credit unions and other financial institutions are offering mortgage payment relief through modifications or skip a pay programs.  Generally, two or three monthly payments are being deferred to the end of the deferral period, or are being moved to the end of the loan either as a balloon payment or by extending the maturity date by adding the two or three payments to the end of the loan.  The number of applications for mortgage relief has required an all hands-on deck effort to timely respond to and assist members facing financial stress due to loss of income. 

Read more
041320lsc.png

How CUs Can Stay Ahead With Contactless Payment During COVID-19

Contactless payment use is on the rise. According to Allied Market Research, the mobile payment market size is expected to have a compound annual growth rate of nearly 34% between 2017 and 2023. Current concerns about the COVID-19 virus being shared through cash have many businesses and media outlets urging consumers to increase their use of contactless payment methods. Credit unions should be prepared with a good understanding of these newer forms of payment options so they can stay ahead of the curve.

Read more
041320autoland.png

Autoland Keeps Auto Lending Pipelines Open

As Californian’s shelter-in-place across the state, auto sales have taken a significant toll due to COVID-19. About 40% of dealers have closed sales departments leaving consumers with less options on trying to replace a vehicle that may have been totaled or no longer running.  Dealers who have remained open have had to pivot on their strategies to find new ways to accommodate consumers with maintaining social distancing and remote deliveries.

Read more
Capitol building in Washington, D.C.

Around the Clock Crisis: CUs and Leagues Work Together

The California and Nevada Credit Union Leagues are surveying credit unions and gathering information on which ones are — or are not — planning on offering Paycheck Protection Program (PPP) relief loans through the U.S. Small Business Administration due to the COVID-19 crisis. Credit unions’ response will help guide the Leagues’ advocacy efforts and messaging with Congress.

Read more
Business person's hand and keyboard

Update: Stimulus Checks, SBA Loans, and CU Concerns

The California and Nevada Credit Union Leagues are continuing discussions with credit unions, legislators, and regulators as concerns mount regarding the ability of all financial institutions to safely and efficiently process stimulus checks that are scheduled to be mailed out soon. 

Read more
DBO website

DBO Code Clarification; Remote Notary; NCUA Meeting and Letters

The California Department of Business Oversight (DBO) now has a list on its website of credit unions offering financial relief. And in Nevada, Governor Steve Sisolak signed an emergency directive which expands upon and clarifies previous directives for non-essential business closures and mandated social distancing. 

Read more
SBA

SBA Update and NCUA Letters

Yesterday, the U.S. Small Business Administration hosted a conference call regarding Paycheck Protection Program (PPP) loans, providing valuable information and updates. Here are key takeaways:

Read more
policyworks logo

Leagues Members Get Free Access to ViClarity BCP Self-Assessment Pandemic Execution

PolicyWorks is offering all California and Nevada Credit Union Leagues members complimentary access to the ViClarity business continuity planning (BCP) Self-Assessment Pandemic Execution Tool until Sept. 1, 2020.

Read more
U.S. Treasury Department

COVID Update: Stimulus Checks, SBA Info, Other News

California and Nevada residents will receive a portion of the estimated 70 million paper stimulus checks scheduled for mailing from the Treasury Department to individuals starting in early May, after direct-deposit stimulus monies are disbursed in April. Please be prepared: your credit union’s branches or ATMs could experience unusually high activity in members physically depositing or cashing these checks.

Read more
Small business owners working

SBA Loan Info, State and Fed Updates, More Resources

The California and Nevada Credit Union Leagues have posted sample content for credit unions to use in efficiently communicating the Small Business Administration’s Paycheck Protection Program (PPP) to members who inquire. Credit unions should use it as they see fit.

Read more
fincen logo

FinCEN Provides Additional Information in Response to COVID-19 Pandemic

The Financial Crimes Enforcement Network (FinCEN) issued a notice which updates FinCEN’s March 16, 2020 COVID-19 Notice, provides additional information to assist financial institutions in complying with their Bank Secrecy Act (BSA) obligations during the COVID-19 pandemic, and announces a direct contact mechanism for urgent COVID-19-related issues.  FinCEN recognizes financial institutions face challenges related to the COVID-19 pandemic.  In addition, FinCEN is committed to promoting the success of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), including the need to facilitate expeditious disbursal of CARES Act funds.  Accordingly, FinCEN will issue further information, as appropriate, as the CARES Act is implemented and questions arise.  

Read more
website

Financial Relief Template for Your Website

The Leagues continue to work with local and state leaders to ensure your members have easy access to information regarding the COVID-19 pandemic and their financial well-being.

Read more
040220compliance.png

Q&As Regarding 2020 RMD Waiver

CUNA’s April 1, 2020 compliance blog provides the Q&As below from Dennis Zuehlke, ERISA compliance manager with Ascensus, to get expert information on IRAs and the 2020 required minimum distributions (RMD) waiver.

Read more
040220ncua.png

NCUA Mandates Strict Offsite Examination Policy

In response to the COVID-19 crisis, the National Credit Union Administration (NCUA) mandated a strict offsite policy for all employees and contracted support staff as of March 16, 2020. All NCUA examinations will take place offsite through May 1, 2020 and will remain in effect until further notice. The agency will reevaluate this approach through the duration of the COVID-19 pandemic and will notify credit unions of any changes.

Read more
ncua logo

Grants, Loans Available to Low-Income CUs for COVID-19 Response

Federally insured, low-income-designated credit unions can request grants and loans from the National Credit Union Administration (NCUA) to assist members, businesses, and communities experiencing economic hardships due to the COVID-19 pandemic.

Read more
treasury department

SBA Guidance: Paycheck Protection Program

The U.S. Treasury Department and Small Business Administration have just released their guidance for issuing loans under the Paycheck Protection Program (PPP) as part of the CARES Act (the stimulus bill signed into law on Friday, March 27).

Read more
033120CMG.png

Three Ways to Stay Connected and Support One Another During Uncertainty

In just days, our world has dramatically changed; and our day-to-day realities have been flipped on their head. As we’ve watched this global pandemic play out, I’m amazed by how quickly people have responded and jumped into action.

Read more
033120catalyst.png

Economic Stimulus Should Stimulate These CU Thoughts

A $2 trillion stimulus measure, approved by Congress and signed by President Trump on March 27, aims to relieve the severe economic agony brought on by the COVID-19 pandemic. The stimulus will sweep broadly across the U.S. economy, reaching nearly every segment, but how it will affect credit unions may vary widely – based on their differing memberships. 

Read more
033020kasasafinal

Boosting Acquisition and Retention with Digital Onboarding During COVID-19

As people’s lives are turning upside down and many are staying home due to the COVID-19 pandemic Kasasa's B2C marketing experts found that internet searches for online account opening have increased in the last week alone.  

Read more
California Gov. Gavin Newsom
California Gov. Gavin Newsom

COVID-19: Credit Unions, Congress, and States Take Action

President Donald Trump has signed into law H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) — legislation that provides economic stimulus to the nation to address to the Coronavirus pandemic outbreak.

Read more
Hands on keyboard at computer

Lawmakers Communicating with Residents: Virtual Town Halls

(This story was updated April 16): Some congressional and state legislators are holding virtual town-hall events this afternoon, evening, and in the coming days to discuss relief and resource efforts in response to the Coronavirus pandemic disrupting local economies and communities across the state.

Read more
Gavel and law book

Regulators to Review Congressional Relief Legislation

The federal regulatory agencies’ joint interagency statement issued on March 22 encourages financial institutions to work constructively with borrowers affected by COVID-19 and provides information regarding loan modifications, including when such modifications would not result in accounting for troubled debt restructuring designation.

Read more
cfpb logo

CFPB Provides Flexibility During COVID-19 Pandemic

The Consumer Financial Protection Bureau (Bureau) is postponing some data collections from industry, including credit unions, on Bureau-related rules to allow companies to focus on responding to consumers/members’ needs.

Read more
Coronavirus

COVID: CUs Respond in CA; Updates for NV

California Governor Gavin Newsom officially announced that more than 200 state-chartered credit unions and banks have committed to providing financial relief to the state’s consumers amid the economic fallout from the Coronavirus pandemic. Due to the response of so many credit unions, our movement was framed in a positive light by Governor Newsom as he made several references to what credit unions do.

Read more
032620posters.png

FAQ/Families First Coronavirus Response Act Posters Available

The Department of Labor (DOL) has created the model posters required by the Families First Coronavirus Responses Act (FFCRA). The posters can be accessed here.

Read more
Gavin Newsom

CA Governor Gavin Newsom Thanks CUs During Relief Announcement

California Governor Gavin Newsom officially announced that more than 200 state-chartered credit unions and banks have committed to providing financial relief to the state’s consumers amid the economic fallout from the Coronavirus pandemic. For those able to respond to our requests, THANK YOU for your input! Our work together is making a huge impact.

Read more
032520ftsi.png

Stop the Spread of Germs: How to Properly Clean Your ATMs

Cleanliness is next to godliness, so they say. Well maybe not, but cleanliness will at least protect yourself and others from spreading and catching harmful diseases. During this current time of growing concern over the Coronavirus disease 2019 (COVID-19), proper cleanliness and disinfecting surfaces that can play host to COVID-19 germs has become even more important to potentially help stop the spread of these germs from person to person.

Read more
032420vero.png

COVID-19 Scams and ID Fraud

We are facing an unprecedented time in our lives with the coronavirus upon us and people taking every imaginable precaution to “be safe” and survive the aftermath.  Having three sisters who are nurses and who love to give advice, the basic practices of good hygiene are essential and the best way to avoid this virus.  That is as far as this article will go on any medical aspects of this issue.

Read more

Credit Unions in California Offering Assistance to Those Impacted by Economic Fallout from Pandemic

The COVID-19 outbreak has resulted in a sweeping and sudden economic crisis for millions of Californians—now being asked to stay safe at home—who are seeing their work hours reduced or jobs and businesses lost. During this unprecedented crisis, the 294 credit unions in the state—with total assets of nearly $210 billion and serving 14 million residents—are taking extraordinary steps to support their members and communities.

Read more
032320cusolutions.png

Protecting Your Members During Crisis: Best Practices for Online Shopping

During these unprecedented times, LCS brings to you an information piece that could help your credit union and members. With brick-and-mortar stores closing over COVID-19, online shopping is becoming more important. Below is article on best practices credit union members can follow to keep their information safe while shopping online.

Read more
Congressional dome building in Washington, D.C.

Leagues Urge Legislators on Behalf of CUs and Members

The California and Nevada Credit Union Leagues are monitoring the current Coronavirus pandemic around the clock as many questions are still unanswered.

Read more
Image of pillars under building

Regulatory Requests Made to CFPB, FRB, and FASB

The Credit Union National Association (CUNA) has made three urgent requests for immediate relief on behalf of credit unions regarding sensitive regulatory items in light of the current Coronavirus pandemic:

Read more