U.S. Dept. of Treasury invites CUs to join roundtable

The U.S. Department of the Treasury’s Office of Critical Infrastructure Protection and Compliance Policy extends an invite to credit unions to join a discussion on the information risks posed to small financial institutions. Hosted on May 7, the roundtable will explore the operational and cybersecurity risks of in-house and outsourced technology platforms. Key areas of […]

JMFA advises fresh look at overdraft strategy

According to Jim Griffis, regional director for John M. Floyd & Associates, Overdraft Program Strategy is critical to any credit union and “complacency is comfortable, but the results can be costly.” He explains from his point of view in the article below: There are myriad reasons why organizations fall behind when it comes to updating their […]

CUNA provides first quarter update for MLA fee comparison spreadsheet

In September of 2017 CUNA announced that it had worked with a third party to develop an interactive MLA Fee Comparison spreadsheet for determining whether certain credit card fees they charge are considered Reasonable and Bona Fide. At the request of a number of credit unions, CUNA has agreed to update the spreadsheet on a […]

New tool will enhance NCUA’s cybersecurity assessments at credit unions

This year, the NCUA will begin using a new tool to help our examiners assess a credit union’s level of cybersecurity preparedness. Called the Automated Cybersecurity Examination Tool, it provides the NCUA with a repeatable, measurable and transparent process that improves and standardizes its supervision related to cybersecurity in all federally insured credit unions. Developed […]

March NCUA board meeting video available

The video recording of the March 15 open meeting of the National Credit Union Administration Board is now available on the agency’s website. Archived videos of past Board meetings may be viewed here, and each video remains on the site for one year. At the March open meeting, the Board unanimously approved two items: An advance […]

Compliance: NCUA loan participation regulations

NCUA General Counsel Michael McKenna recently issued a legal opinion letter from the agency on loan participations. An inquiry was made about whether a loan participation must meet the requirements of NCUA’s loan participations regulation throughout the life of the transaction. “Yes, certain provisions of the loan participation must be met throughout the life of the transaction,” […]