NCUA released its inaugural Office of the Ombudsman 2023 Annual Report Tuesday highlighting information and statistical data on the Ombudsman’s core programs, stakeholder feedback from the Post Examination Survey, and more. The report defines the Ombudsman Office’s standards of practice and the conditions under which someone should contact the Ombudsman Office. It also provides information …
Certain updates and changes would make it less burdensome for credit unions to comply with anti-money laundering/counter-financing of terrorism (AML/CFT) rules and regulations, America’s Credit Unions wrote to the Financial Crimes Enforcement Network (FinCEN) Tuesday. The comments are in response to a notice of proposed rulemaking (NRPM) required by the AML Act of 2020. It …
Adequate time needed to implement required AML Act changes Read More »
The NCUA last month permanently prohibited Luz Araceli Davila-Hernandez from participating in the affairs of any federally insured depository institution. Davila-Hernandez is a former employee of Magnifi Financial Credit Union, Melrose, Minn. An Order of Prohibition prohibits a party from ever working for a federally insured depository institution. Agency enforcement orders and notices are searchable …
The League of Southeastern Credit Unions & Affiliates (LSCU & Affiliates) and the Virginia Credit Union League (VACUL) have signed a letter of intent to consolidate, a plan that would bring together Alabama, Florida, Georgia, and Virginia credit unions. Virginia credit unions will vote on consolidating with LSCU, including the merger of both associations, foundations, …
Virginia League member credit unions to vote on consolidating with LSCU Read More »
On August 23, 2024, the Small Business Administration (SBA) published an interim final rule (IFR) titled, “Business Loan Program Temporary Changes; Paycheck Protection Program—Extension of Lender Records Retention Requirements” to lengthen the required records retention for lenders that made loans under the Paycheck Protection Program (PPP) to ten years. The provisions of this IFR are …
SBA Extends Paycheck Protection Program Lender Records Retention Requirements Read More »
This week marks the last of the Congressional recess, with another primary election bringing voters to the polls. America’s Credit Unions PAC and the Cooperative Credit Union Association are supporting six candidates in today’s primary elections in Massachusetts. Sept. 10 will mark the final primaries of the 2024 cycle in Delaware, New Hampshire and Rhode …
This week: Primaries, comment deadlines, Caucus approaches Read More »
The Federal Financial Institutions Examination Council (FFIEC) has issued a new booklet to help examiners assess information technology practices. The “Development, Acquisition, and Maintenance” booklet: It replaces the “Development and Acquisition” booklet issued in April 2004.
