Regulatory & Compliance

ALEXANDRIA, Va. -- NCUA has ended the use of the CAMEL matrix in favor of risk based examinations, according to a letter to federal credit unions released Dec. 18.

Members of NAFCU's board took the opportunity Dec. 5 to tour the headquarters of the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) headquarters in Virginia. The visit was highlighted by a discussion with FinCEN Director James H. Freis, Jr.

Credit unions which are issuing gift cards through their membership in the Atira program have found a sharp increase in demand this holiday season, according to The Members Group, the CUSO which offers the program.

The Treasury Department and Federal Reserve should be told to put a hold on their pending regulations seeking to control Internet banking and the full House Financial Committee should look more closely into the regulatory burdens imposed by the Bank Secrecy Act, according to a Dec. 10 letter CUNA sent...

NASCUS has appointed Orla Beth Peck, supervisor of credit unions for the Utah Department of Financial Institutions, to its board of directors.

NCUA Executive Director, Leonard Skiles, told a Dec. 12 hearing of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit that the agency supports the notion of allowing consumers to use only one phone number to reach their financial institutions but wants to make sure that it would...