Regulatory Affairs Archives

Summary outlines key points of LIBOR letters

(May 28, 2021) An overview of the letter to credit unions on the future of the LIBOR reference rate is the latest summary to be posted by NASCUS; it is...

FAQs look at proposed effectiveness of AML requirements

(Jan. 22, 2021) Suspicious activity reporting and other anti-money laundering (AML) requirements are subjects of new frequently asked questions (FAQs) issued by NCUA, federal banking regulators and the Treasury’s Financial...

Proposal would track virtual currency transactions

(Dec. 23, 2020) New requirements for certain transactions involving convertible virtual currency (CVD) or digital assets with legal tender (LTDA) status were proposed by the Treasury’s financial crimes arm today,...


(Dec. 11, 2020) Shane Foster is the new deputy director of financial institutions at the Arizona Department of Insurance and Financial Institutions (DIFI, a consolidated agency, as of July 1,...

SBA Releases Paycheck Protection Program Interim Final Rule

The SBA has published an Interim Final Rule related to the Paycheck Protection Program. The rule is available on SBA’s website immediately.

FFIEC Issues 2020 Edition of the Guide to HMDA Reporting

The 2020 edition of the “Guide to HMDA Reporting: Getting It Right!” is now available. The guide was developed by member agencies of the Federal Financial Institutions Examination Council (FFIEC),...

NASCUS members join CFPB Credit Union Advisory Council

CFPB Director Kathy Kraninger  announced the appointment of members to the Credit Union Advisory Council (CUAC). Among the appointees are NASCUS members Teresa Campbell, President & CEO, San Diego County Credit Union and Brian Holst, General Counsel, Elevations Credit Union.

CFPB to Host Symposium on Behavioral Economics

The CFPB will host a symposium on Behavioral Economics. The session will feature remarks from CFPB Director Kathleen Kraninger and Deputy Director Brian Johnson.

NASCUS Summarizes NCUA’s Fidelity Bond Rule

NCUA has finalized amendments to Part 713 and Part 704 regarding fidelity bond coverage for natural person and corporate credit unions. Part 713 applies to federally insured state-chartered credit unions...

NASCUS Summarizes NCUA Interim Hemp Guidance

NCUA has issued “interim guidance” for credit unions interested in serving the legalized hemp industry. The guidance will be updated as needed as necessary regulations are issued by the United States Department of Agriculture (USDA) and others regarding the growth, processing, manufacture, and retail sale of hemp.

NASCUS Summarizes First 2019 NCUA Risk Alert

NCUA issued the first Risk Alert of 2019 to remind credit unions of the risks related to Business Email Compromise (BEC) fraud and steps that institutions should consider in order to mitigate the risk of falling prey to such scams.