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CUNA Advocacy report

Federal Reserve Reviewing Liquidity Sources at Largest Banks

Dec
17

The Federal Reserve Board (Fed) is examining liquidity sources at some of the largest U.S.

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Posted By Sharon Bahr read more

Treasury Settlement with HSBC Bank on BSA and OFAC Violations

Dec
17

The U.S. Department of the Treasury announced this week a collective settlement with HSBC Bank, reached by the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), and the Office of Foreign Assets Control (OFAC), as part of a combined federal, local, and international government action.  It was the largest bank settlement regarding the Bank Secrecy Act (BSA) and sanctions in U.S.

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NCUA Launches Budget Web Page

Dec
17

The National Credit Union Administration (NCUA) has developed a new webpage on its budget.

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CFPB News and Updates - 12/14/2012

Dec
17

CFPB May Allow Financial Services Companies to Float Trial Disclosures

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Reminder: Federal Benefit Payments are Transitioning to Electronic Only

Dec
11

Federal benefit payments (e.g., payments from the Social Security Administration and Veterans Affairs) will transition entirely from paper to electronic form as of March 1, 2013.  Federal benefit payments will be delivered electronically to recipients either by direct deposit via ACH or transfer to a Direct Express Debit MasterCard card, which is administered by Comerica Bank.

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FinCEN Summaries of Public Roundtables

Dec
11

The Financial Crimes Enforcement Network (FinCEN) has released summaries of its public roundtable meetings held in Los Angeles, New York City, and Chicago regarding the agency’s advance notice of proposed rulemaking (ANPR) on customer due diligence (CDD) requirements that would apply to financial institutions, including credit unions.

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Financial Services Sector Coordinating Council Discusses Cyber-Security

Dec
11

Last week, Credit Union National Association (CUNA) staff attended the Financial Services Sector Coordinating Council (FSSCC) all-day meeting to discuss coordination efforts between federal government entities and the financial services sector on critical infrastructure, cyber-security, and crisis management.  Senior staff from the Department of Homeland Security, Treasury, and other government entities discussed current critical infrastructure initiatives and their ongoing

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NCUA Final Rule on Alternatives to the Use of Credit Ratings

Dec
10

As noted in the Credit Union National Association's (CUNA) summary of the National Credit Union Administration (NCUA) Board meeting on December 6, the Board approved a final rule on alternatives to credit ratings to assess creditworthiness that will apply to federal natural person and corporate credit unions, effective 180 days after publication in the Federal Register; this rule change was required under the Dod

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New CUNA Examination Survey

Dec
10

The Credit Union National Association (CUNA) has developed a new survey to allow credit unions to provide CUNA and the state leagues with feedback on their most recent examination by the National Credit Union Administration (NCUA) and/or their state regulator.  The survey was emailed to all CUNA/league affiliated credit unions, except those in NCUA's Region 2, on Thursday, December 6.  Credit unions in Region 2 have already participated in

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State-By-State Quarterly Financial Report Available

Dec
10

The National Credit Union Administration (NCUA) has issued its “Quarterly U.S.

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