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Summary: FinCEN Alert on COVID-19 Employee Retention Credit Fraud

FinCEN Alert on COVID-19 Employee Retention Credit Fraud FIN-2023-Alert007 NASCUS Legislative and Regulatory Affairs Department December 5, 2023 On November 22, 2023, FinCEN, in coordination with the IRS Criminal Investigation...

NCUA Final Rule Summary: Charitable Donation Accounts

NCUA Final Rule Summary: Charitable Donation Accounts NASCUS Legislative and Regulatory Affairs Department December 4, 2023 Summary In December 2013, the NCUA Board approved the current CDA rule which permits Federal...

Final Rule Summary FinCEN: Beneficial Ownership Information Reporting Deadline Extension for Reporting Companies Created or Registered in 2024

Final Rule Summary FinCEN: Beneficial Ownership Information Reporting Deadline Extension for Reporting Companies Created or Registered in 2024 NASCUS Legislative and Regulatory Affairs Department November 30, 2023 Background On September...

Proposed Rulemaking and Request for Comment NCUA Parts 701, 741, 746, 748, and 752: Fair Hiring in Banking

Notice of Proposed Rulemaking and Request for Comment NCUA Parts 701, 741, 746, 748, and 752: Fair Hiring in Banking NASCUS Legislative and Regulatory Affairs Department November 30, 2023 The...

Summary on the CFPB Proposed Rule on Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications

Summary re: CFPB Proposed Rule on Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications 12 CFR Part 1090 The Consumer Financial Protection Bureau (CFPB) proposes a...

FinCEN: Use of FinCEN Identifiers in Beneficial Ownership Information Reporting

Final Rule Summary FinCEN: Use of FinCEN Identifiers in Beneficial Ownership Information Reporting NASCUS Legislative and Regulatory Affairs Department November 28, 2023 On November 7, 2023, FinCEN issued a final...

FinCEN: Proposal of Special Measure Regarding Convertible Virtual Currency Mixing

Notice of Proposed Rulemaking and Request for Comment FinCEN: Proposal of Special Measure Regarding Convertible Virtual Currency Mixing, as a Class of Transactions of Primary Money Laundering Concern NASCUS Legislative...

NCUA: 2024 Proposed Budget Summary

NCUA: 2024 Proposed Budget Summary NASCUS Legislative and Regulatory Affairs Department November 8, 2023 A $394.5 million 2024 proposed budget[1] was posted on October 26, 2023, by NCUA; a public...

Consumer Information Requests to Large Banks and Credit Unions

CFPB Summary re: Consumer Information Requests to Large Banks/Credit Unions 12 CFR Chapter X The Consumer Financial Protection Bureau (CFPB) issued this Advisory Opinion regarding Section 1034(c) of the Consumer...

NCUA LTCU 23-CU-08: Resumption of Federal Student Loan Payments

NCUA Letter to Credit Unions 23-CU-08 Resumption of Federal Student Loan Payments NASCUS Legislative and Regulatory Affairs Department October 12, 2023 With federal student loan payments slated to resume this...

NASCUS Committee Participation Form

The Legislative & Regulatory Affairs Committee (L&R Committee) Our largest committee, consisting of over 70 members, is comprised of individuals from various segments of our membership, including regulators, credit unions,...

NCUA Rules 701 and 714: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions

NCUA Final Rule Summary NCUA Rules 701 and 714: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions (NCUA-2022-0185) NASCUS Legislative and Regulatory Affairs Department September 29,...