URLA
preferred language question now voluntary
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
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
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).
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FinCEN
update, elder financial abuse at BSA Seminar today
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
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.
