Compliance

The agency agreed to most recommendations made by its inspector general but pushed back on some conclusions.

Fewer than 30 CUs in the state would be eligible to make use of the rule, intended to help rural institutions and others attract a more qualified pool of directors and committee members.

Since the Payment Card Industry Data Security Standard was introduced in 2004, many merchants found compliance to be too arduous or costly and just skipped it, risking fines. But increasingly, other regulations like GDPR are changing the PCI DSS compliance equation.

A look back at CU Journal's latest special report on the challenges the industry could face in the year ahead.

After maintaining a $250,000 exemption threshold for real estate appraisals for nearly 20 years, the National Credit Union Administration is set to raise that limit to $400,000.

Most stakeholders agree that the Community Reinvestment Act needs to be updated, but a congressional hearing featuring the regulator leading the overhaul effort showed just how contentious the process has become.

Critics of the OCC have long maintained that the agency was too close with the San Francisco bank. A watchdog's assessment of what transpired between 2009 and 2017 is expected to be completed late this spring.

The Senate is busy with President Trump's impeachment trial but policymakers and legislators elsewhere have several credit union-related issues to content with in the coming days.

The payments industry is a hotbed of innovation, and many of its larger players are eager to claim patents on new developments.

Data from the Credit Union National Association indicates the rule has decreased lending and increased costs as institutions work to stay compliant.