I wanted to take a moment to bring your attention to these fantastic articles that the attorneys at Howard & Howard provided in one of their newsletters. The “5 Common Credit Card Act Violations” article is very informative. If you haven’t already, sign up to be added to their mailing list by clicking here.
News
CUNA Urges Comments on Risk Based Capital Proposal
CUNA’s Small Credit Union Committee created a call to action for Credit Unions to respond to the NCUA’s proposed Risk based Capital regulation. The letter urges all credit unions to respond to the NCUA call for comments before the comment period ends on May 28th. CUNA and the NWCUA also sent this letter to all credit unions […]
Risk Based Capital and The 10th Risk
After careful review of the new 198 page Risk Based Capital rule, CU*Answers has compiled a white paper focusing on a number of sections of the rule including the discretionary ability of the NCUA to increase a credit union’s minimum RBC requirement. Patrick Sickels and I collaborated on this white paper to detail the nuances […]
Risk Based Capital Rule….. We Must React
CU*Answers as a cooperative is stepping up its marketing effort and encouraging credit unions in the network to comment on the new NCUA-proposed rule regarding risk based capital. In a recent Callahan web conference my first slide read as follows: “Never in the history of NCUA rule-making has it been necessary to classify a regulator […]
Everything You Need To Know to Effectively Comment on Risk-Based Capital
Join Chip Filson, Callahan Chairman, as he hosts a panel of industry leaders to discuss the most comprehensive and consequential regulation ever proposed, NCUA’s Risk-Based Capital Rule. Current Panelists Include: Jim Vilker, VP of Professional Services at CU*Answers Doug Alldredge, Chief Financial Officer of First Credit Union in Arizona Andrew Bolton, Senior Analyst for Callahan […]
What does compliance truly cost your credit union?
What does compliance truly cost your credit union? During last November’s CEO Strategies meeting it was stated by a number of CEOs that the cost of compliance is killing their credit union. AuditLink took this as a challenge. In June, at the Leadership Conference, CU*Answers and AuditLink announced that they will be running successive contests meant not […]
“From DC to Michigan: A Compliance Update” was a success!
For those of you who joined us in Pontiac yesterday for the “From DC to Michigan: A Compliance Update” event, thank you for attending! We were very pleased with the turnout of almost 40 attendees. We had some really great speakers Steve Van Beek from Howard & Howard, Meg Prieur from The Payments Authority and, of course, […]
Adjustable Rate Mortgages (ARMs)…. Updates to ARM notice coming soon!
In addition to the mortgage periodic statement requirement per Regulation Z , we are also addressing the changes required for ARM notices. The CU*Answers product team recently approved updates to our existing variable rate change notice. In the regulation, the sample form is in the appendix under “H-4(D)(2) Sample Form for § 1026.20(c)”. After discussions with […]
The “Best Of” Network Compliance Teacher
Another year is coming to an end and we have just released the sixth edition of the Network Compliance Teacher magazine. It was tough to choose which of the articles were the “best of” but here they are! We want to thank everyone that contributed in the success of this publication. We look forward to the […]
FFIEC weighs in on the end of Microsoft XP Support
We have sent out numerous notices related to our recommendations for clients to replace PCs utilizing Microsoft XP predicated on the fact that Microsoft is discontinuing support of the operating system on April 8th 2014. In this case discontinuing support of the XP operating system includes updates, technical assistance, and security patches. Our recommendations to […]