Compliance

WASHINGTON – The Consumer Financial Protection Bureau has specified changes it would like to make to a rule designed to increase regulation of international money transfers.

WASHINGTON – With his signature Friday President Obama put an end to a great deal of frustrating regulatory burden regarding ATM fee disclosures, along with a wave of lawsuits, by signing into law a bill repealing dual fee disclosure at ATMs.

A massive study of consumer credit reports released last week found consumers had disputed up to 38-million items on their reports during 2011.

NCUA last week introduced a new website aimed at small credit unions.

CUNA is conducting a national survey of credit unions about their recent experiences with examinators and the New Jersey CU League is already issuing results of a similar effort for all NCUA Region II credit unions that it spearheaded.

WASHINGTON – The Senate last night approved the bill to eliminate one of the dual fee disclosure requirements at ATMs, a measure aimed at eliminating so-called ATM vigilantes who file civil suits over the absence of on-machine disclosures.

Unfortunately, as credit unions seek to add or upgrade the skills of increasingly critical compliance personnel, there is no one simple approach that is really effective.

ALEXANDRIA, Va. – The NCUA Board this morning approved a new rule that will replace the current Wall Street rating system as a criteria for determining the permissibility of an investment with two new standards, whether the investment is determined to be of “investment grade” and whether it contains a “minimal amount of credit risk.”

Commodore Perry FCU expects to know this month the results of its appeal to NCUA's Supervisory Review Committee.

ALEXANDRIA, Va. – The Center for Responsible Lending, a consumer advocacy funded by Self-Help CU, called on NCUA last week to set new guidelines that would severally restrict credit unions’ ability to charge members overdraft fees.