Links in “Compliance Tips”

A recap of some of the "love letters" NCUA has issued in the last few weeks, including an announcement of the E-Calculator and a revised version of its "Your Insured Funds" booklet. (Be still my heart!) [2/14]

SVP of Technology at Rhode Island's Washington Trust Bancorp asks three questions when looking at new solutions to purchase: Will this help with compliance? Does it create revenue? Will it replace one or more things the bank already has? [2/10]

According to Jason Vitug, founder of Phroogle, that’s exactly the case. Credit unions are missing the boat if they are focused on being “like a bank, only better.” Instead, credit unions should learn from innovators like Moven, Simple, T-Mobile, and the Prosper and Lending Club. [2/3]

Regulatory Alert No. 14-RA-04 provides further guidance for compliance with RESPA’s mortgage servicing rules. The Q&A format addresses force-placed insurance, error resolution and information requests, servicing policies and procedures, early intervention with delinquent borrowers, and loss mitigation. [1/14]

The redesigned share insurance calculation tool that offers expanded content is now available at MyCreditUnion.gov. NCUA is sponsoring a free webinar on the changes to its examination process on January 22^nd at 2:00 pm EST. [1/8]

Editorial director for Bank Systems & Technology submits that bankers might be better served by investing in the reporting and analytical tools necessary to achieve compliance rather than resisting the inevitable regulatory expansions resulting from the financial crisis. [1/8]

With the Financial Accounting Standard Board’s (FASB) proposed current expected credit loss model (CECL), banks will be required to “look ahead” in the estimation of credit losses and use of a “life of loan” expected, credit loss estimate when calculating their allowance for loan and lease losses (ALLL) methodologies. Here are several key factors and steps that banks and credit unions should take into consideration while calculating year-end reserves. [1/2]

FDIC report recommends that banks test their securities portfolios' exposure to rising rates, consider increasing their holdings of shorter-maturity or variable-rate securities, lock in profits by selling longer-term securities, and prepare for shifts in customer behavior as interest rates climb. [12/27]

As the black market is being flooded with the stolen data, there are measures that credit unions can take to protect themselves and their members. This article summarizes the information resources that are available to assist you with your risk management efforts. [12/24]

Using principles from the book and movie "Moneyball," AffirmX's Ken Agle discusses what smaller institutions can learn about competing with larger institutions when it comes to compliance from the Oakland Athletics of the early 2000s, who successfully competed despite having the third smallest payroll. [11/25]