Regulatory Affairs Resources – Coronavirus

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To access PPP related info, visit:

https://mwcua.com/ppp-related-information/

Resources:

Policy Pro

InfoSight

CUNA Compliance Community

ALL Info related to the PPP loan program can be found here

GENERAL Guidance and Regulatory Relief

NCUA Letter to Credit Unions 20-CU-20 Phased Approach to On-site Operations

CFPB Policy Statement on Electronic Credit Card Disclosures

NCUA Letter to Credit Unions 20-CU-17 Update to Offsite Examination and Supervision Approach

Financial Services Sector Coordinating Council Releases Return to Normal Operations Resource Guide

NCUA Interim Final Rule on Prompt Corrective Action

OSHA Guidance – Preparing Workplaces for COVID-19 (pdf)

Cybersecurity Considerations for Remote Work

NCUA Letter to Credit Unions 20-CU-09 – Temporary Regulatory Relief in Response to the COVID 19 Pandemic

Deposits/Savings

IRS Economic Impact Payment Information Center- Updated FAQs

NCUA Regulatory Alert 20-RA-02 Federal Reserve Board Issues Rule Allowing Credit Unions to Remove the Monthly Limit on Savings Withdrawals

NACHA’s ACH Network Rules Pandemic-Related Frequently Asked Questions (FAQs)

U.S. Secret Service – Detecting counterfeit Treasury checks

Treasury Dept. – Treasury Check Information System

Treasury Dept. – U.S. Treasury Check Security Features

CUNA’s Compliance Blog – common questions about stimulus checks

Lending

Federal Financial Institutions Examination Council Joint Statement on Additional Loan Accommodations Related to COVID-19

NCUA Regulatory Alert – Treatment of Certain COIVID-19-Related Loss Mitigation Options Under RESPA

Joint Agency Guidance on CARES Act Forbearance and Foreclosure

FHFA Extends Foreclosure and Eviction Moratorium

FHFA Extends Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers

CFPB Guidance on Mortgage Appraisals and Other Valuations Under ECOA

CFPB Interpretive Rule – Application of Certain Provisions in the TILA-RESPA Integrated Disclosure Rule and Regulation Z Right of Rescission Rules in Light of the COVID-19 Pandemic

NCUA Letter to Credit Unions 20-CU-13 – Working with Borrowers Affected by the COVID-19 Pandemic

Interagency Statement – Appraisals and evaluations for real estate related financial transactions affected by the coronavirus

NCUA IFR- Amending real estate appraisal regulations to permit “desktop” appraisals and changing timing requirements for receiving appraisals

NCUA IFR – Increasing appraisal threshold from $250,000 to $400,000 for 1-4 family real estate loans.

NCUA TFR – Regulatory relief for loan participations, purchases of eligible obligations and disposal of property that is abandoned or not used in credit union operations.

Guidance from Fannie Mae and Freddie Mac as it relates to mortgage loans in forbearance:

Revised Interagency Statement – Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus

FHFA – Servicer Liquidity Concerns, Announces Four Month Advance Obligation Limit for Loans in Forbearance

FHFA – Guidance on mortgage forbearance payments

CFPB – Mortgage Servicing Rules FAQs

Bank Secrecy Act

FinCEN Advisory on Cybercrime and Cyber-Enabled Crime Exploiting the Coronavirus Disease 2019  (COVID-19) Pandemic

FinCEN Issues Guidance for BSA Reporting of COVID 19-Related Crimes

The Office of Foreign Assets Control (OFAC) guidance on COVID 19-related filing delays

LIQUIDITY

NCUA Letter to Credit Unions 20-CU-18 Prompt Corrective Action Regulatory Relief Measures in Response to Covid-19 Pandemic

NCUA Letter to Credit Unions 20-CU-14 Establishment of CLF Agent Membership

NCUA Issues CLF Operating Circular

NCUA Enhancements to Central Liquidity Facility Membership and Borrowing Authority

 

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