Regulatory & Compliance

ALEXANDRIA, Va. - Federal credit unions have the authority to invest in a mutual fund as the underlying investment for a 457(f) plan, NCUA recently reminded. In an April 26 opinion letter, the regulator addressed the inquiry from Matadors Community Credit Union, which is a federally-insured, state-chartered credit union. NCUA...

ALEXANDRIA, Va. - NCUA Vice Chairman Rodney Hood headed west for a myriad of visits with state regulators and credit unions.

ALEXANDRIA, Va. - NCUA is getting the word out to credit unions that it has updated the Your Insured Funds brochure. The Federal Deposit Insurance Reform Act and conforming amendments changed deposit insurance coverage levels. Certain retirement accounts, including Individual Retirement Accounts and Keoghs, now have federal deposit insurance coverage...

WASHINGTON - Credit counseling agencies that do not comply with the law, have been put on notice. The Internal Revenue Service has released a report on tax-exempt credit counseling agencies and announced it plans to take further steps to make sure these organizations comply with the law.

WASHINGTON - After more than four years as one of four commissioners at the Securities and Exchange Commission, Cynthia Glassman announced May 15 she plans to leave at the end of her term on June 5. Glassman did not set a specific date for her departure but according to SEC,...

WASHINGTON - The Office of Federal Housing Enterprise Oversight and the Financial Crimes Enforcement Network reached an agreement to facilitate the sharing of OFHEO examination findings with FinCEN concerning actual or suspected mortgage fraud.