Compliance

NEW HAVEN, Conn.-Credit unions may have a tax exemption, but they're anything but exempt from the "compliance tax," according to one company.

NEW YORK-Could a regulatory model currently in place in Canada also work in the U.S. by helping to reduce the regulatory burden on small credit unions?

ALEXANDRIA, Va.-The NCUA Board, acknowledging mounting credit union losses, proposed restrictions last week on executive compensation packages for managers of troubled credit unions.

SAN FRANCISCO-Financial institutions are responding in two ways to the advent of Regulation E and the resulting loss of revenue in overdraft fees and other revenue: through other "gotcha" fees and by positioning themselves as having the consumer's "back" using mobile services.

CHICAGO-NCUA is concerned many credit unions are not concentrating on the full extent of their concentration risk.

CHICAGO-There is greater concern over what's to come-rather than what's already known-regarding the financial reform legislation signed into law by President Obama last week.

CHICAGO – There is greater concern about what’s to come, than what’s already known about the financial reform bill signed yesterday by the president. Credit union CEOs attending NAFCU’s 43rd Annual Conference said already burdensome regulatory and compliance demands will become overwhelming in the next few years.

OMAHA, Neb.-To free the compliance officer from staff questions and to improve compliance knowledge throughout the credit union, one CU has placed all of its compliance knowledge online.

LAS VEGAS-Regulation of credit unions is a "work in progress," but Alan Cameron said the real downside is compliance takes away from the focus of serving members.

ORLANDO, Fla.-Credit unions must be definitive when making loan modifications or debt restructuring and have clear evidence to back up their decisions, according to state regulators.