Summaries
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NASCUS Summary: NCUA Risk Alert 21-RA-03, Submission of 2020 Home Mortgage Disclosure Act Data
21-RA-03 Submission of 2020 Home Mortgage Disclosure Act Data February 2021 NCUA Regulatory Alert 21-RA-03 informs credit unions subject to HMDA reporting requirements in calendar year 2020 that loan/application... -
NASCUS Summary: NCUA Risk Alert 21-RA-02 — CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V
21-RA-02 CFPB Publishes 2021 Threshold Adjustments Under Regulation C, Regulation Z and Regulation V NCUA issued Regulatory Alert 21-RA-02 to inform credit unions on the CFPB’s threshold adjustments to Regulations... -
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations
Summary: Answers to Frequently Asked Questions Regarding Suspicious Activity Reporting and Other Anti-Money Laundering Considerations Prepared by NASCUS Legislative & Regulatory Affairs Department February 2021 On January 19, 2021,... -
Summary: LTCU 21-CU-02, NCUA’s Supervisory Priorities
Letter to Credit Unions 21-CU-02 NCUA’s 2021 Supervisory Priorities January 2021 NCUA’s Letter to Credit Unions (LTCU) 21-CU-02 identifies the agency’s supervisory priorities for 2021. NCUA also notes that... -
Summary: LTCU 21-CU-01, Summary of the Consolidated Appropriations Act 2021
Letter to Credit Unions 21-CU-01 Summary of the Consolidated Appropriations Act 2021 January 2021 NCUA’s LTCU 21-CU-01 discusses the provisions of the Consolidated Appropriations Act, 2021 (CAA 2021) that... -
Summary: Regulatory Alert 21-RA-01: CFPB Amends Ability-to-Repay/QM Rule under TILA
Regulatory Alert 21-RA-01 CFPB Amends Ability-to-Repay/QM Rule under TILA January 2021 The CFPB has issued 2 final rules amending the Ability-to-Repay/Qualified Mortgage Rule (ATR/QM Rule) in Regulation Z. Both final... -
Summary: Regulatory Alert 20-RA-09 2021 Exemption Thresholds Adjustments Under the Truth in Lending Act (Regulation Z) and the Consumer Leasing Act
Regulatory Alert 20-RA-09 2021 Exemption Thresholds Adjustments Under the Truth in Lending Act (Regulation Z) and the Consumer Leasing Act December 2020 NCUA’s Regulatory Alert notifies credit unions of the... -
Summary: Federal Banking Agencies Issue Joint Statement on Enforcement of Bank Secrecy Act/Anti-Money Laundering Requirements
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 NCUA and the other federal banking agencies (FBAs) have issued a joint statement updating their guidance regarding how they evaluate... -
Summary: FinCEN Final Rule — BSA, CIP, BSA Programs, and Beneficial Owner Rules for PICUs
Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 FinCEN has issued a final rule applying BSA compliance program requirements to privately insured credit unions (PICUs) and other financial... -
Summary: Joint Statement on Additional Loan Accommodations Related to COVID-19
Joint Statement Summary Joint Statement on Additional Loan Accommodations Related to COVID-19 August 2020 The Federal Financial Institutions Examination Council (FFIEC) has issued a Joint Statement to provide prudent risk... -
Summary: Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires
Joint Statement Summary Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Hurricane Laura and California Wildfires September 2020 NCUA, the Federal... -
Summary: Anti-Money Laundering Program Effectiveness
FinCEN Advance Notice of Proposed Rulemaking (ANPR) Anti-Money Laundering Program Effectiveness Summary Prepared by NASCUS Legislative & Regulatory Affairs Department September 2020 The Financial Crimes Enforcement Network (FinCEN) has issued...