Compliance

WASHINGTON – CUNA said it is pressing the Consumer Financial Protection Bureau to clarify its recent rule on remittances that exempts institutions with 100 or fewer remittance transactions per year from the regulation.

WASHINGTON – The Consumer Financial Protection Bureau has issued a proposal that would require mortgage servicers to provide clear monthly statements, earlier disclosures for interest rate adjustments, and options to help borrowers avoid foreclosures and costly force-placed insurance.

CUNA has made 17 recommendations to NCUA as part of the agencies 2012 Regulatory Review.

The trade group representing state regulators is urging NCUA to make some changes as part of the agency's annual Rule Review.

ALEXANDRIA, Va. – NCUA on Thursday said video teller machines qualify as legitimate service facilities that will allow credit unions to establish membership in proximity to the new machines.

WASHINGTON – The Consumer Financial Protection Bureau on Tuesday said credit unions and banks with fewer than 100 remittances per year are exempt from a requirement that providers of international money transfers provide upfront fee disclosures.

NCUA's plans to introduce a new Office of National Examinations and Supervision has North Carolina's State Employees Credit Union, one of the four $10-billion-plus CUs that fall under ONES' supervision, wondering what the regulator's intent is.

LOS ANGELES – A state appeals court yesterday upheld a lower court ruling that CUNA Mutual Group’s CUMIS Insurance Society is not responsible for a $243,700 fraudulent home equity line of credit transfer overseas because the credit union making the bond claim did not comply with the insurer’s required security procedures before making the wire transfer.

COMSTAR FCU is prepared for the Sept. 30 interest rate risk management policy deadline, as well as for a quick, sharp rise in rates.

Fiserv's Orlando Hanselman is asking whether credit unions will make the interest rate risk deadline and if all the right CUs are paying attention to the rule?