NASCUS Staff
COVID-19 Fraud Schemes
NCUA Risk Alert: 20-Risk-02 COVID-19 Fraud Schemes August 2020 NCUA issued Risk Alert 20-RA-02 to inform credit unions about fraud risks associated with the COVID-19 pandemic. The economic dislocation resulting...
Summary: Regulatory Alert 20-RA-07 CFPB Issues Amendments to Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule
Regulatory Alert 20-RA-07 CFPB Issues Amendments to Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule August 2020 In July, the CFPB issued a final rule amending parts of the...
Summary: Legal Opinion Automated Loan Underwriting System – Segregation of Duties for Loan Officers
Legal Opinion Automated Loan Underwriting System – Segregation of Duties for Loan Officers June 16, 2020 NCUA’s legal opinion reinterprets existing NCUA interpretations of the permissibility of loan disbursements resulting...
Summary: Legal Opinion Reasonable Proximity Analysis
Legal Opinion Reasonable Proximity Analysis June 10, 2020 NCUA’s Legal Opinion addresses FCU field of membership and the term “reasonable proximity,” as used in the Federal Credit Union Act (“FCUA”)...
Summary: FinCEN Guidance FIN-2020-G002
FinCEN Guidance FIN-2020-G002 Frequently Asked Questions Regarding Customer Due Diligence (CDD) Requirements for Covered Financial Institutions August 3, 2020 FinCEN has issued updated responses to 3 FAQs regarding CDD requirements...