Regulatory & Compliance

The Credit Union Regulatory Improvements Act has added seven more co-sponsors in the latter half of this week for a total now of 114 with primary sponsor Paul Kanjorski (D-Pa.).

NCUA has brought its Bank Secrecy Act Examination expectations to the same level as the other banking regulators after once being thought of in catch-up mode one expert told Credit Union Times' BSA conference yesterday.

The Federal Reserve Board has announced that it is seeking nominations to its Consumer Advisory Council and the national credit union trade associations will make their recommendations heard.

Do not be too hasty in closing certain accounts despite suspicious or potentially criminal activity, the Financial Crimes Enforcement Network asked of financial institutions in recent guidance.

The Office of Thrift Supervision recently announced that it has entered an agreement with the Conference of State Banking Supervisors on a model for sharing consumer complaint information.

Colorado's Division of Financial Services recently earned re-accreditation from NASCUS.

The co-sponsorship of the Credit Union Regulatory Improvements Act (H.R. 1537) has grown to 104, including primary sponsor Paul Kanjorski (D-Pa.), in just the first three months.

The FDIC Board followed up at its last board meeting on talk of helping banks provide a payday loan alternative with formal guidelines.