Also: Reg Committee talks CFPB proposals, subordinated debt; Answers on adverse action notices for cosigners



NAFCU TODAY | The News You Need Daily.

August 13, 2019



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URLA preferred language question now voluntary [ [link removed] ]
A preferred language question on the government-sponsored enterprises' (GSEs) redesigned Uniform Residential Loan Application (URLA) will now be voluntary instead of mandatory, the Federal Housing Finance Agency (FHFA) announced last week. NAFCU flagged for the FHFA credit unions' cost and legal concerns about the addition of the question.


Subordinated debt, CFPB proposals on NAFCU committee agenda [ [link removed] ]
NAFCU today will update members of its Regulatory Committee on proposed rulemakings currently open for comment from the CFPB, as well as the association's perspective on subordinated debt.


Compliance Blog details adverse action notices for cosigners [ [link removed] ]
Is a credit union required to provide a cosigner with an adverse action notice? In a new post on the Compliance Blog, NAFCU Senior Regulatory Compliance Counsel Jennifer Aguilar explains these requirements under Regulation B and the Fair Credit Reporting Act (FCRA).






FinCEN update, elder financial abuse at BSA Seminar today [ [link removed] ]
NAFCU's BSA Seminar continues in Minneapolis today and attendees will hear directly from the Financial Crimes Enforcement Network (FinCEN) and legal experts on Bank Secrecy Act (BSA) compliance. Of note, there are sessions on high risk accounts, elder financial abuse, BSA/anti-money laundering (AML) training and recent FinCEN efforts.


Key CU regs detailed at Compliance School [ [link removed] ]
Attendees at NAFCU's Regulatory Compliance School today will hear from members of the association's compliance team on important credit union governances, including Regulations E, CC and D, as the conference continues in Minneapolis. Those working to obtain the NAFCU Certified Compliance Officer (NCCO) designation also have the opportunity to take the first exam of the four-part series.



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