Overview The NCUA is proposing a new requirement that certain federally insured credit unions must have a written policy for interest rate risk management as part of their asset liability management responsibilities. This rule will take effect on September 30, 2012. What are the penalties for non-compliance? The NCUA will use compliance with this rule […]
Upcoming regulations
Regulation CC changes
Effective July 21, 2011, section 1086 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 amends the Expedited Funds Availability Act by increasing the amount from $100 to $200 that must be available for withdrawal by opening of business on the next day. Your credit union will need to review your disclosures relating […]
AuditLink Advisor – Edition 10 / April 12, 2010
Multi-Featured Open-End Lending (MFOEL) Note: It appears that only CUNA Mutual is requesting the following changes. If your credit union is using another MFOEL lending platform, please contact Jim Vilker with your provider’s specific changes, if required. Three weeks ago, a few credit unions began to receive instructions from CUNA Mutual Group (CMG) regarding the […]
Update from NAFCU on the Credit CARD Act
21-Day Fix on to President’s Desk; Reg Z Proposal: Timely Settlement of Estates Posted: 29 Oct 2009 11:08 PM PDT – NAFCU Compliance Update by Anthony Demangone 7:55 p.m., Thursday evening I just received an email from our lobbying dynamo, Brad Thaler. Just minutes ago, the U.S. Senate passed H.R. 3606 by unanimous consent. This […]