Compliance

One day after six federal agencies issued a notice revising a proposed rule requiring sponsors of securitization transactions to retain risk in those transactions, insiders questioned if the changes do much to help credit unions.

There isn't a credit union in the country that isn't aware of the never-ending need to comply with ever-growing rules and regulations. In our July 29 issue, Credit Union Journal provided more than a dozen perspectives aimed at providing assistance and direction with compliance. In this issue, the Journal offers additional viewpoints designed to do the same.

The new remittance transfer rules that take effect Oct. 28 bring with them some tough decisions for credit unions-especially those falling just outside the guidelines, reports CUNA Mutual Group.

New guidelines make it imperative that CUs pay close attention to how they handle garnished accounts that receive federal benefits, reminds Wolters Kluwer.

While check usage may be on the decline, the amount of charge-offs due to check fraud is not, and one person says that Reg CC remains a chief compliance hurdle.

All the attention may go to new regulations, but one person is reminding that CUs must continue to monitor some older threats associated with Reg E.

Credit unions need to pay close attention to member complaints as the Consumer Financial Protection Bureau is stepping up its focus here, looking for signs from consumers that their FI is engaging in unfair or deceptive practices.

The CFPB's new and forthcoming mortgage rules represent what one person called "the poster child for change" that FIs can expect in the coming year.

COMMERCE CITY, Colo. – Community Choice CU has signed with NeighborBench for the company’s cloud-based compliance solution.

Giesecke & Devrient says it has given Near Field Communication payments a significant boost by developing a SIM card on which several NFC applications can operate simultaneously.