Regulatory & Compliance

Credit unions should perform thorough due diligence to determine their risk exposure from using corporate credit unions compared to using third-party firms, the NCUA advised credit unions in a letter sent last week.

Championing the preservation of the federal tax exemption for all credit unions topped the list of 2011 priorities NAFCU disseminated on Wednesday.

Commenting on FinCEN's proposed rules on cross-border electronic transmittals of funds, NAFCU asked the agency to consider the regulatory burden, the amount of information it already receives and the security issues involved.

In compliance with NCUA's Jan. 27 rule on financial literacy for directors, state leagues are revving up their 2011 training and education programs.

The harsh rhetoric generated from an online debate sparked by a Michigan CUSO accusing NCUA and major trade groups of being grossly out of touch with the industry's situation continued Wednesday.

CUNA wrote the Federal Reserve Board on Dec. 22 asking it to raise the asset threshold for the small institution safe harbor in its interim final rule on appraisal independence under Reg Z.