Compliance

NCUA last week said a credit union may bar an employee who agreed to resign instead of being fired from running for the board of directors under a proposed separation agreement.

WASHINGTON – The newly formed Consumer Financial Protection Bureau on Thursday announced it has begun reviewing consumer complaints on bank and credit union checking and savings accounts.

ALEXANDRIA, Va. – NCUA on Tuesday said a credit union may bar an employee who agreed to resign instead of being fired from running for the board of directors under a proposed separation agreement.

WASHINGTON – CUNA called on the Consumer Financial Protection Bureau to use its new authority over the Electronic Funds Transfer Act to amend requirements that force two separate disclosures on fees to a single, on-screen disclosure.

TORRANCE, Calif. – Honda FCU has signed with Wolters Kluwer Financial Services to help it update its master disclosure document quickly and in compliance with state and federal requirements.

WASHINGTON – The Senate Banking Committee called on officials at NCUA and the banking regulators to conduct internal reviews on the application of their own standards during examinations.

RALEIGH, N.C.-Some state-chartered credit unions here are considering converting to federal charter following a dispute between the state regulator and NCUA.

ALEXANDRIA, Va. – State-chartered credit unions across North Carolina today will receive a letter from NCUA stating it has finished its separate share insurance examinations of those CUs and will resume conducting joint exams with the North Carolina Credit Union Division as soon as it meets two conditions: it withdraws authorization for any federally insured CU to publish its CAMEL rating, and the NCCUD withdraws its approval for the pilot program being run by State Employees CU in which it is making its CAMEL rating public.

WASHINGTON – A coalition of credit union and banking lobbyists joined the ATM industry in calling for new legislation eliminating the need for a physical fee disclosure outside ATMs to stop the proliferation of lawsuits alleging violation of the Electronic Funds Transfer Act.

ALEXANDRIA, Va.-A top NCUA official told Congress last week that proposed legislation to establish a new appeals process for credit union and bank examinations could prove unnecessarily costly and slow down the resolution of troubled credit unions, in some cases long enough to preclude NCUA from saving them.