Retired

NCUA Final Rule Summary: Cyber Incident Notification Requirements for Federally Insured Credit Unions

NCUAFinal Rule Summary: Cyber Incident Notification Requirements for Federally Insured Credit Unions NASCUS Legislative and Regulatory Affairs Department March 7, 2023 At the February 16, 2023, meeting, the NCUA Board...

Letter to Credit Unions 23-CU-02: Expansion of Permissible CUSO Activities and Associated risks

NCUA Letter 23-CU-02 Summary Expansion of Permissible CUSO Activities and Associated risks NASCUS Legislative and Regulatory Affairs Department February 7, 2023 Summary On November 26, 2021, a final rule amending...

NCUA Risk Alert: 23-RA-01 Change to HMDA’s Closed-End Loan Reporting Threshold

Risk Alert NCUA Risk Alert: 23-RA-01 Change to HMDA’s Closed-End Loan Reporting Threshold  NASCUS Legislative and Regulatory Affairs Department February 3, 2023 On February 2, 2023, the NCUA Board issued...

CFPB Request for Information Regarding Consumer Credit Card Market 

Summary re: CFPB Request for Information Regarding Consumer Credit Card Market  Docket No. CFPB-2023-0009 Section 502(a) of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act or...

CFPB Circular 2023-01 – “Unlawful negative option marketing practices”

The Consumer Financial Protection Bureau issued a circular that asked if “persons” that engage in negative option marketing practices violate the prohibition on unfair, deceptive, or abusive acts or practices...

Letter to Credit Unions 23-CU-01: NCUA’s 2023 Supervisory Priorities

Letter to Credit Unions 23-CU-01 NCUA’s 2023 Supervisory Priorities NASCUS Legislative and Regulatory Affairs Department January 19, 2023 On January 18, the NCUA issued Letter to Credit Unions 23-CU-01 outlining...

FinCEN: Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities

Notice of Proposed Rulemaking and Request for Comment FinCEN: Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities NASCUS Legislative and Regulatory Affairs Department January 13,...

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

NCUA Proposed Rulemaking Summary 2022-0185 NCUA Rules 701 AND 714: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions NASCUS Legislative and Regulatory Affairs Department January 6,...

Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices

Summary re: CFPB Bulletin 2022-06: Unfair Returned Deposited Item Fee Assessment Practices   12 CFR Chapter X  A returned deposited item is a check that a consumer deposits into their checking...

Advisory Opinion on Fair Credit Reporting; Facially False Data

CFPB Summary re: Advisory Opinion on Fair Credit Reporting; Facially False Data 12 CFR Part 1022 The Consumer Financial Protection Bureau (CFPB) issued this advisory opinion to highlight that a...

Letter to Credit Unions: Risk-Based Approach to Assessing Customer Relationships and Conducting Customer Due Diligence

NCUA Letter to Credit Unions 22-CU-08: Risk-Based Approach to Assessing Customer Relationships and Conducting Customer Due Diligence NCUA has issued LTCU 22-CU-08  as part of a joint statement with the...