Compliance

ALEXANDRIA, Va.-NCUA last week proposed new rules for troubled debt restructurings that will cover how all federally insured credit unions account for delinquencies, charge-offs and income related to troubled home mortgages and member business loans, as well as for how those loans are reported on NCUA's quarterly Call Reports.

RALEIGH, N.C.-North Carolina State Employees' Credit Union said it was joining with other consumer advocates in support of the full and fair disclosure of checking account policies and fees at all financial institutions.

ATLANTA-As reported first by Credit Union Journal, NCUA says it will begin independent insurance reviews for all federally-insured, state-chartered credit unions in North Carolina as the result of the ongoing release of its CAMEL rating by State Employees Credit Union in Raleigh.

Pam Perdue, chief compliance strategist at Continuity Control, said credit unions can expect to see "a lot more scrutiny around their behaviors with their members, and by that I mean the ways in which they advertise their product and service offerings," as well as the disclosures associated with those offerings.

The Consumer Financial Protection Bureau plans to pay increased attention to financial literacy issues among members of the military in 2012, and that could mean new compliance issues for credit unions.

ALEXANDRIA, Va. – NCUA told credit unions the industry is heading for one of its most profitable years ever but still faces major risk as credit unions shift toward new activities.

ALEXANDRIA, Va. – NCUA said it won’t extend the monthly collection of financial data from credit unions in its Southeast Region Three, which it began almost three years ago during the biggest natural person credit union failure ever, Eastern Financial Florida CU.

ALEXANDRIA, Va. – The NCUA board will hold its first meeting of 2012 when it meets this Friday at the agency’s headquarters.

WASHINGTON-The Consumer Financial Protection Bureau may be one of the biggest question marks hanging over the compliance landscape in 2012, but one person is urging CUs to breathe easy.

WASHINGTON-NCUA will change its exam procedures in 2012 to focus examiners' time on credit unions that post the greatest risk.

ARLINGTON, Va.-A significant regulatory focus in 2011-risk management-will remain a focus in 2012.

WASHINGTON-Interest rate risk remains the primary concern for NCUA Chairman Debbie Matz heading into 2012.

WASHINGTON – Credit unions have less than a week to be in compliance with NCUA’s new rules for advertising share insurance coverage.

ALEXANDRIA, Va.-NCUA proposed last week to expand its rules governing loan participations-including the 10% "skin in the game" requirement-from the current federally chartered credit unions to cover all federally insured credit unions.

KNOXVILLE, Tenn.-The Credit Union Committee on Declaration of Grievances is getting bigger and gaining traction.

GRAND RAPIDS, Mich.-If the petition circulated by Randy Karnes earlier this year did one thing, it got at least some people to stop complaining behind the scenes about NCUA and the CU trade associations.

ASHLAND, Ky. -- Ashland CU has contracted with COMPASS 4 CUs to provide it with regulatory compliance services.

ARLINGTON, Va. – Arlington Community FCU has signed with COMPASS 4 CUs to provide it with regulatory compliance services.

LAS VEGAS – Board members were reminded that beginning in January examiners will begin reviewing credit union risk assessments and that in the board room, credit union need to be prepared to comply.

WASHINGTON-Credit unions may soon getter a better handle on potential additional compliance demands as the new Consumer Financial Protection Bureau has begun accepting consumer complaints related to home mortgages.