The National Credit Union Administration is seeking public comment on potential emergency liquidity regulations for federally-insured credit unions, and CUNA has asked credit unions to add their voices to a pending comment letter on this NCUA proposal. More
New National Credit Union Administration interest rate risk regulations are "regulatory overkill" and only increase "the already hefty regulatory burden on credit unions," CUNA President/CEO Bill Cheney said following Thursday's NCUA open board meeting. More
The Consumer Financial Protection Bureau will establish an advisory council for credit unions to help the agency gauge how its actions are impacting the credit union industry, CFPB Director Richard Cordray said during a Tuesday House Oversight and Government Reform subcommittee hearing. More
The Consumer Financial Protection Bureau Friday adopted new protections for consumers who transfer money internationally. Under a new rule, remittance transfer providers must disclose the exchange rate and all fees associated with a transfer so consumers know exactly how much money will be received on the other end. More
A $67 million verdict Wednesday against a bank for allegedly aiding in a $1.2 billion Ponzi scheme is rare, but should serve as a cautionary note for credit unions and other financial institutions on the importance of compliance with the Bank Secrecy Act and its anti-money laundering provisions. More
The Treasury Department's Office of Foreign Assets Control (OFAC) published the name of one individual and one entity whose property and interests in property have been unblocked pursuant to Executive Order 13315 of August 28, 2003, ``Blocking Property of the Former Iraqi Regime, Its Senior Officials and Their Family Members, and Taking Certain Other Actions,'' as amended by Executive Order 13350 of July 30, 2004.
The following designation is removed from the SDN List by OFAC:
AL-HABOBI, Dr. Safa Haji J (a.k.a. AL-HABOBI, Dr. Safa; a.k.a. AL-
HABUBI, Dr. Safa Hadi Jawad; a.k.a. HABUBI, Dr. Safa Hadi Jawad; a.k.a.
HABUBI, Dr. Safa Jawad; a.k.a. JAWAD, Dr. Safa Hadi), Flat 4D Thorney
Court, Palace Gate, Kensington, United Kingdom; Iraq; DOB 01 Jul 1946;
Former Minister of Oil (individual) [IRAQ2]
The National Credit Union Administration has clarified that new questions addressing minority credit unions and workplace diversity, which were added to fourth quarter call report documents with no explanation from the agency as to why, are required by the Dodd-Frank Wall Street Reform Act. More
Credit unions that wish to comment on two Consumer Financial Protection Bureau interim final rules, one that addresses Truth in Lending and another on disclosures and other requirements for privately insured credit unions and non-federally insured depository institutions, should forward their comments to CUNA by early next week. More
The data security standards followed by credit unions and other financial institutions are strong, and the addition of new, potentially duplicative, data security standards could create issues for credit unions, CUNA said following Monday's release of a Government Accountability Office report on cyber security guidance. More
*Government Accountability Office Guidance Report