News & Insight

NAFCU talks CU issues during day 1 of DNC

Tuesday, July 26, 2016

NAFCU met with key lawmakers and policymakers on the first day of the Democratic National Convention in Philadelphia on Monday to bring the regulatory burden on credit unions to their attention and tell the story of the good work credit unions are doing for their members across the country.

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Hunt: GAO report confirms CU impact of CFPB's mortgage rules

Tuesday, July 26, 2016

NAFCU's Carrie Hunt said Monday that a new Government Accountability Office report confirms concerns held by the association regarding how CFPB's mortgage servicing rule impact credit unions – especially regarding increased compliance costs.

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BSA Blast Article: Another Layer Added to Customer Due Diligence

Tuesday, July 26, 2016

We knew it was coming and on May 11, 2016, it finally did. FinCEN issued its final rule amending the Bank Secrecy Act (BSA) regulation to clarify, enhance and strengthen customer due diligence (CDD) requirements for credit unions. The final rule clarifies existing requirements, as well as adding a new requirement for a credit union to now identify and verify beneficial owners of legal entity accounts, subject to certain exclusions and exemptions. (Member-only article; login required.)

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TFCU 'Getting to Know' Article: Tyrone Muse

Tuesday, July 26, 2016

Learn more about your credit union peer Tyrone Muse, President and CEO of Visions Federal Credit Union. Muse discusses his successes in the credit union sector that may not have been possible in a traditional banking institution.

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Issues & Regulations

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New NAFCU FFIEC Cybersecurity Assessment Tool Workbook

Cybersecurity Compliance

An editable, self-tallying file that allows credit unions to self-test cyber risk and readiness in a shareable format with a visual result (member-only).

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Military Lending Act Compliance Resources

Compliance Deadline: October 3, 2016

Find credit union resources for MLA compliance implementation, including compliance guide, final rule summary, insightful blog posts, articles and webcasts, to help you get up-to-speed before the deadline later this year.

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