Links in “Credit Unions”

Questioner asks if an employee convicted of a felony can be a MLO. Responder suggests that may not even be the right question to be asking. [11/11]

All the inclusions and exclusions make the new definitions of points and fees in Reg. Z "more complicated than the tax code." [11/8]

A growing concern about staff safety has prompted NCUA to establish a new office focused solely on security and continuity. NCUA examiners found 10,000 rounds of ammunition and semi-automatic weapons in a storage room when they seized Taupa Lithuanian Credit Union several months ago. [11/7]

NCUA announced that it will be offering free consulting services to small, new, and low income-designated credit unions during the first half of 2014.  The program offered through the Office of Small Credit Union Initiatives will include consulting services related to budgeting, marketing, policy development, strategic planning and operational and regulatory issues. [11/7]

Settlement would again avert the Supreme Court's ruling on the issue of disparate impact, in which it is not necessary to show intent to discriminate, only that a policy has had a disproportionate effect on racial minorities. [11/6]

While it would not be prudent to put the brakes on your institution's efforts to prepare for the January implementation of the Ability-to-Repay and Qualified Mortgage rules just yet, 118 members of the House have signed a letter urging CFPB to delay implementation of the rules for one year. The House members claim that the 4,000 pages of regulations followed by four amendments to further clarify the requirements make it unrealistic for financial institutions and their software providers to be ready to comply in time. [11/6]

This article provides seven reasons for applying a variable APR to your credit cards. With interest rates expected to rise and funding costs likely to increase, variable rate pricing may be your best risk management strategy. [11/6]

NCUA has posted a three-part video series on its consumer website www.mycreditunion.gov  that explains the requirements of the new mortgage and remittance rules. The videos present NCUA’s plan for implementation of the new rules. [11/6]

Here's a concise recap of the new compliance requirements you will be facing in January, as well as IRS and liquidity changes that go into effect in March. [11/5]

How do you balance the desire to provide your members with a friendly environment based on trust with the need to protect your credit union from fraud. The answer is in knowing how to identify the most common areas of fraud. [11/5]