The LSCU’s regulatory team is always focused on helping credit unions navigate the regulatory hurdles in their path. League expertise has been developed and procedures perfected through years of interaction with multiple state and federal regulatory agencies.
Our expertise in credit union issues is unparalleled and when it comes to facing regulatory compliance challenges, we believe no one can guide credit unions through the process better. Our regulatory professionals assist affiliate members with issues that include but are not limited to:
- Review and assistance with state agency/NCUA correspondence and exam responses
- Industry focused regulatory compliance presentations to management, staff and board of directors
- Interaction with federal and state regulators on behalf of credit unions
- Development and implementation of corrective action in response to examination issues
- Regulatory compliance overviews and assessments
- Long-term regulatory compliance program strategies for state and federally chartered credit unions.
Through the development of long-range regulatory strategies, maintaining a keen awareness of the activities of regulatory agencies, by ensuring LSCU members are fully informed of industry developments, and, speaking as one voice on regulatory issues, the LSCU works to continuously foster a regulatory environment in which credit unions can thrive.
CUNA has commissioned a study to see the real impact of regulatory burden on credit unions. This study, supported by state leagues, came about after members of Congress told CUNA that it needed hard data to show how much regulatory burden was crippling credit unions. Cornerstone Advisors commissioned the study to look at how much the financial impact on credit unions has changed since 2010. The study found that credit unions are seeing a $7.2 billion financial impact. Below are resources to help you better understand the impact and the study.
Credit Union Bill of Rights
The LSCU, along with CUNA, have put together a Guide for Credit Unions to reference during their scheduled examinations. This guide informs credit unions of their rights during and after the exam. The NCUA is working to improve communications with credit unions during the exam process.
Created by the California and Nevada Credit Union Leagues, and brought to you in partnership with CUNA, PowerComment is an innovative and highly-interactive online communication tool designed to connect credit union professionals with state and federal regulators.
By providing access to proposed rules, discussion boards, and direct commentary to agencies, every PowerComment member will be empowered to join the movement and help ensure a sustainable future.
- Alabama Commercial Code
- Alabama Credit Union Administration
- Alabama Credit Union Administration Regulations for State Chartered Credit Unions
- Florida Administrative Code
- Florida Statutes
- Office of Financial Regulation (OFR)
- OFR – Bureau of Credit Unions
- OFR – Forms and Applications
- Exam and Supervisory Issues
- CUNA Regulatory Burden (Membership) Survey Results webinar
- Federal Reserve
- Federal Trade Commission
- HMDA Guide
- NCUA Regulations for State Chartered Credit Unions
- U.S. Department of Treasury
Credit Union Letters
- Letter 97-00044 : The Alabama Credit Union Administrator has the authority to permit a credit union to utilize acceptable nonfederal deposit insurance.
- Letter 2000-012 : The State Land Sales Act does not apply to Department of Industrial Relations Credit Union in the Annex to the Industrial Relations Building.
- Letter 2015-042 : The Administrator of the Alabama Credit Union Administration is not prohibited from disclosing an enforcement action or using examination reports to support the enforcement order during an appeal of the enforcement order.
- Letter 79-00202 : The Alabama Credit Union Administration (as successor to the State Banking Department) has exclusive jurisdiction over the licensing of credit unions.
- Letter 81-00080 : Monies remaining in the Bureau of Credit Unions (succeeded by Alabama Credit Union Administration) fund at the end of the year must be transferred to the general fund.
- Letter 85-00209 : Alabama Credit Union Administrator (as successor to Supervisor of Bureau of Credit Unions) cannot differentiate the treatment between credit unions incorporated within versus without Alabama unless the treatment has a legitimate state purpose.
- Letter 85-00490 : The Alabama Credit Union Administration must follow the provisions of Act 85-457 in promulgating rules and regulations.
- Letter 89-00180 : Personal property of credit unions is exempt from the Ad Valorem Tax.
- Letter 89-00406 : A federal credit union, as an instrumentality of the federal government, is exempt from the deed and mortgage tax.
- Letter 90-00197 : A city may not require a credit union to purchase a business license.
- Letter 91-00126 : State chartered credit unions are required to have deposit insurance.
- Letter 91-00258 : Financial institutions must follow the procedures in the Act for satisfaction of a lien.
- Letter 92-00293 : Credit unions are not required to collateralize the accounts of mental health patients if they are insured by the National Share Insurance Fund.
- ACUA FIET Letter : Alabama Credit Union Administration requires transfer of net income to reserves to achiever a 12.5% Capital to Asset ratio.
- Letter 0829-FL-4-11 : Field of Membership Spin-off
- Letter AGO 78-91 : Counties, Office Space, Credit Unions
- Letter AGO 74-168 : Law Enforcement Officers on Special Duty
- Letter AGO 79-61 : National Banks, Occupational Licenses
- Letter AGO 80-89 : Reimbursement for Travel Expenses
- Letter AGO 74-20 : State Credit Unions – Furnishing Space and Services by Governmental Entity as Quidproquo for Services Rendered Entity’s Employees
- Letter AGO 2011-01 : Sunshine Public Records Law, Non-profit Foundation
- Letter AGO 75-198 : Tax liability of Lease Hold Located on air Station