Washington Wire – Aug. 21, 2018

Though the House of Representatives remains in recess until Sept. 4, the Senate reconvenes today to consider H.R.6157, the Minibus Appropriations Act (Defense and Labor/HHS). Of primary interest this week to credit unions is Thursday’s Senate Banking and Urban Affairs Committee’s consideration of the nomination of Ms. Kathleen Laura Kraninger of Ohio to be director, Bureau of Consumer Financial Protection. That same day, […]

InfoSight Spotlight: BCFP issues Regulation P relief

Last week, the Bureau of Consumer Financial Protection issued a final rule amending Regulation P. The rule provides regulatory relief by exempting credit unions that meet specific criteria from the requirement to send annual privacy notices to their members. The changes are intended to align Regulation P with changes made to the Gramm-Leach-Bliley Act (GLBA) by […]

Best Practices Lead to Best Results

 As regulators shift focus, fully disclosed financial services still matter by Cheryl Lawson, EVP-Compliance Review   Following the recent passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) – which was intended to roll back some of the regulations of the Dodd-Frank law for smaller financial institutions – the Bureau of Consumer Financial Protection […]

Comments on NCUA risk-based capital rule due Sept. 7

NCUA’s risk-based capital proposed rule has been published in the Federal Register, and comments will be due Sept. 7. CUNA called the proposal a step in the right direction, but still questions the need for such a rule. The proposal would delay implementation of the risk-based capital rule by one year, to Jan. 1, 2020, back from the currently scheduled Jan. […]

InfoSight Spotlight: Fed announces Outlook Live presentation

The Federal Reserve will present “Complaints as a Supervisory and Risk Management Tool” as part of its Outlook Live webinar series on consumer compliance topics, on Aug. 29 at 2 p.m. ET. The presentation and Q&A segment will run for a total of one hour and will summarize what an effective complaints management system looks […]

Protect your credit union from cybercrimes

Some of the largest corporations with the best access to security have been hacked and breaches are in the news almost every week. LEVERAGE, an affiliate of the League of Southeastern Credit Unions has cyber security solutions tailored for credit union needs, including monitoring, audit, and compliance services. LEVERAGE is introducing two new products specifically designed […]