Regulatory Compliance
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What’s going on at the NCUA?

The CFPB’s mortgage rules have dominated everyone’s attention lately so I thought it would be a good time to check in with the NCUA to point out a few recent items. 

If you have an upcoming exam with the NCUA I recommend you read through their recent Letters to Credit Unions including 13-CU-09, which provides clarification on DORs and exam findings as well as the examiners’ follow-up procedures.

The most recent NCUA board meeting had three interesting items. Two final rules pertaining to federally insured credit unions that covered planning for liquidity events and electronically filing call report information. The meeting also included a proposed rule to require annual stress tests for certain credit unions.

And don’t forget to check out the recent edition of the NCUA Report. Among other items, this issue discusses the Charitable Donations proposed rule. This rule would allow federal credit unions to create and fund charitable donation accounts to facilitate charitable activities by credit unions.

Whew! There is a lot going on in the compliance world! But just in case you are already missing your favorite topic, mortgages, I should also mention that the NCUA is hosting two upcoming webinars on the new remittance transfer rule and the mortgage lending rules. Click here for more information and to register.

I know it is difficult to keep up with the most recent events at the CFPB but we also can’t forget about the NCUA!

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