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March 2010
FinCEN Issues Ruling on Customer Identification Programs and Address Confidentiality Programs
FinCEN issued a ruling regarding how Customer Identification Program (CIP) requirements under the Bank Secrecy Act (BSA) should apply in cases related to state address confidentiality programs (ACPs).
NASCUS Recommends Diversity, Enhanced Oversight and Larger Role for State Regulators in Regulation of the Corporates
NASCUS’ comments on proposed Part 704 focus on the need to balance reconsideration of regulatory oversight of the corporate system with the ability of the corporate system to recapitalize going forward. See letter here.
January 2010
NASCUS Summary of Recent FinCEN SAR Review, Trends, Tips & Issues
View the summary at this link (Member log-in required.)
NASCUS Summary of FFIEC Reverse Mortgage Guidance
View the summary at this link (Member log-in required.)
December 2009
NASCUS Summary of Recent FinCEN SAR Review, Trends, Tips & Issues
View the summary at this link (Member log-in required.
NASCUS Summary of NCUA's Proposed Rule, Part 704, Corporates
To view the summary, click here. (Member log-in required.) Comments are due to the NCUA by March 9, 2010.
Summaries of Recent NCUA Regulatory Alerts
Follow this link to read summaries of RAs regarding Regulation CC, Regulation D and HOEPA (Member log-in required).
November 2009
Federal Reserve Final Rule on Overdraft Services, Reg E - NASCUS Summary
NASCUS prepared a summary of the
Fed's final rule regarding overdraft services for ATM transactions and one-time debit card transactions,12 CFR 205 Regulation E. View the summary at this link. (Member log-in required)
NCUA Approves 13 Percent Increase for 2010 Operating Budget, 54 New Examiners, Higher OTR
The budget represents a 12.2 percent growth in salary and staff – a 74 position increase from the 2009 budget. The NCUA will hire 57 full time employees (FTEs) for its change to an annual examination calendar.
October 2009
New Summary: NCUA Regulatory Alert on Amendments to Regulation Z, Truth in Lending
To see the summary, follow this link.
Summary Available: NCUA LTCU on Loan Modifications
Click here for a full summary of the guidance.
NCUA Approves Kansas Exemption from CUSO Books and Records Rule
This exemption provision allows the NCUA to examine FISCU CUSO books and records in consultation with the state regulator under their existing authority.
September 2009
FinCEN Clarifies CTR Reporting Related to Armored Car Service
Read the summary here.
FinCEN Issues CTR Guidance
FinCEN published FIN-2009-G003, Guidance on Determining Eligibility for Exemption from Currency Transaction Reporting Requirements. Read more here.
NCUA Chairman Holding Town Halls to Discuss Corporates, Other Issues
Read more here about the three upcoming town halls.
New NCUA Risk Alert: Information Systems & Technology Application Security
To read a summary and for more info, click here. (Member log-in required).
August 2009
NASCUS Comments on NCUA’s Annual Regulatory Review
NASCUS focused its comments on regulations impacting state-chartered, federally insured credit unions (FISCUs).
NASCUS Files Comments with FTC Requesting SCU Exemption from New Mortgage Lending Regulations
NASCUS’ comment letter, while supportive of FTC’s goal of consumer protection, urges FTC to exempt state-chartered credit unions.
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