Regulatory Compliance Newsletter: October 25, 2021

10.25.21 Regulatory Compliance Newsletter

  • NCUA Issues Guidance, Announces Upcoming ECIP Action
  • Risk Alert: Business Email Compromise through Exploitation of Cloud-Based Email Services
  • Ransomware Information: Virtual Currency
  • OFAC Guidance for Virtual Currency Industry
  • What’s Happening with LIBOR??
  • Registration Open for the NCUA Automated Cybersecurity Evaluation Toolbox Webinar

Regulatory Compliance Newsletter – October 12, 2021

10.12.21 Regulatory Compliance Newsletter

  • Task Force Issues Guidance for Federal Contractors Vaccine Mandate
  • CFPB Responds to Residents’ Rights Month
  • Canada Makes AML/CFT Progress
  • NCUA FAQs Related to COVID-19 for Federally Insured CUs

2.22.2021 Regulatory Compliance Newsletter

Regulatory Compliance Newsletter – February 22, 2021

  • Virtual Compliance Update & Roundtable
  • HMDA Data Must Be Submitted by March1
  • CFPB Issues Rule on HPML Escrow Exemption
  • Fed Extends PPP Exception Under Reg O
  • Another PPP Procedural Notice From SBA
  • SBA PPP Progress Report
  • Enterprises Extend Loan Origination Flexibilities


2.16.2021 Regulatory Compliance Newsletter

Regulatory Compliance Newsletter – February 16, 2021

  • Virtual Compliance Update & Roundtable
  • FinCEN Advisory on COVID-19 Fraud
  • Fate of QM and Debt Collections Rules Uncertain
  • Procedural Guidance on Lender PPP Processing Fees
  • Some Things CUs Should Know about Direct Deposit Tax Refunds
  • New Guide Helps Military Families with Financial Challenges
  • Upcoming Nacha rules changes
  • ECIP Clarification


2.8.2021 Regulatory Compliance Newsletter

Regulatory Compliance Newsletter – February 8, 2021

  • Acting CFPB Director Warns of Strict Enforcement for COVID-19 Related Regulatory Violations
  • FinCEN Changes Comment Date For CVC/LTDA Transactions Proposal Again
  • OFAC Upgrades SDN List Search Tool
  • SBA Adds PPP FAQs
  • FinCEN Affirms PPP FAQs
  • CFPB Updates List of Consumer Reporting Companies
  • Virtual Compliance Update & Roundtable





MWCUA Sends Letter to NCUA Chairman Rodney Hood

This week, the Mountain West Credit Union Association sent a letter to NCUA Chairman Rodney Hood, written on behalf of the credit unions we serve expressing our appreciation for the work of the NCUA to bring about regulatory relief during this current crisis. The letter also included the Association’s recommendations for … Read More

The SBA has taken down the PPP portal

The Small Business Administration’s $349 billion Paycheck Protection Program has officially run out of money. A notice, posted on the SBA’s website, states the “SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding. Similarly, we are unable to enroll new PPP … Read More

Treasury Department Updates Guidance – with forms

Last night and earlier this morning, the U.S.Treasury released additional documents for lenders participating in the Paycheck Protection Program. The new documents include: Lender Electronic Data Form Final Borrower Application Form SBA Form 3506 Both forms are outlined in the PPP Final Rule that was released on Thursday afternoon. To … Read More

Treasury Department Issues Guidance

The U.S. Treasury Department and the Small Business Administration have finally released their long awaited guidance for the Paycheck Protection Program (PPP). We have been working with our state governments to help compile a list of available lenders that are participating or planning to participate in the program in order … Read More

CECL resources available

Stephen Nelson, VP of Credit Union Support at the Utah Credit Union Association, recently shared some resources primarily geared toward helping smaller and mid-sized credit unions meet CECL requirements.  The resources are on the Utah Credit Union Association website and include: 8 videos covering just about everything in the … Read More