Compliance

Credit unions flocked to the nation’s capital for the trade association’s annual pilgrimage to Washington, where executives have the chance to hear from politicians at the conference and then head to lawmakers’ offices to lobby on credit union issues.

WASHINGTON — One of the top anti-money laundering regulators warned credit unions Tuesday that many do not appear to be properly following reporting requirements.

Monaco, previously senior economist at the regulator, succeeds Worth, who left last month.

New York's banking regulator has reached an agreement with four of the banks developing an online message service to store records for potential access by regulators and other officials.

NCUA has developed a series of videos designed to help credit union board members.

The push to raise the statutory limit on credit union member business lending got a boost Thursday when three U.S. Senators introduced a bill that would allow NCUA to raise a credit union’s MBL cap to 27.5% of assets, from the current limit of 12.25%, provided the CU met certain requirements.

Zions Bancorp. in Salt Lake City has named Karin Lockovitch director of compliance.

NCUA has launched an improved online Consumer Assistance Center (CAC) technology designed to make it easier and more efficient for consumers to make requests or file complaints.

The Consumer Financial Protection Bureau has a busy agenda for the fall that includes possible action on debt collection and prepaid cards, though the agency's overall workload may cause delays.

Nearly 20 trade groups representing lenders, banks, credit unions, title companies and others are urging federal regulators to provide guidance on how they plan to enforce a new mortgage disclosure regime that goes into effect Oct. 3.

Nearly 20 trade groups representing lenders, banks, credit unions, title companies and others are urging federal regulators to provide guidance on how they plan to enforce a new mortgage disclosure regime that goes into effect Oct. 3.

Congress will kick off a busy session on Tuesday when lawmakers return from summer break, with a number of key financial services priorities up for consideration.

Regulators are insisting that bank boards take responsibility for corporate culture. That's no cause for alarm, so long as directors are prepared to take ownership of the issue.

The Financial Crimes Enforcement Network's enforcement action against Ripple Labs sent a clear message to the cryptocurrency industry about regulators' high expectations for compliance. Such actions will help clear the way for banks to partner with blockchain technology firms down the line.

The credit union regulator received nearly 3,100 comment letters tied to plans to loosen restrictions on business lending, with a vast majority opposing any changes.

The credit union's regulator received nearly 3,100 comment letters tied to plans to loosen restrictions on business lending, and despite the proposal's popularity among credit unions, the majority of letters opposed the changes.

Some suggest CUs should be concerned about NCUA Chairman Matz' proposal because it lacks formal, annual accountability that would come with being a rulemaking under the Administrative Procedures Act.

The Federal Housing Administration is reissuing a loan certification proposal that has sparked industry concerns that it will make it easier for the Justice Department to sue lenders when they file claims for agency-insured loans that go into default.

More than half of real estate agents are planning to extend their sales contracts to provide more time for the closing processing due to the coming implementation of new mortgage disclosures.

Symphony, the instant messaging service supported by fifteen large banks, says it will be ready to roll on Sept. 15 despite the objections of Sen. Elizabeth Warren and regulators who fear its encryption technology will impede supervision.