|| This year's Regulatory Compliance Seminar
focused on mortgage rules and disclosures,
lawsuits and enforcement issues, pending and
final NCUA rules. The seminar concludes today.
Oct. 26, 2012 – The approximately 200 participants of NAFCU’s Regulatory Compliance Seminar in Seattle learned Thursday about regulatory changes under the Dodd-Frank Act for open-end and multi-featured credit plans, proposed changes in loan participation rules, the latest on credit union service organizations and more.
Hal Scoggins, in “Consumer Lending at the Crossroads: The Status of Open-End Lending and Multi-Featured Plans,” took participants through changes in Regulation Z that took effect in July 2010.
Katherine Weber, discussing credit union service organization rules, discussed a proposed CUSO regulation that NCUA has postponed finalizing for several months. She looked at current rule requirements, including what types of services NCUA has already approved for credit unions to offer through CUSOs and ways to ensure success. Weber also discussed NCUA’s proposed rule on loan participations, which would set hard limits on participations and subject federally insured, state-chartered credit unions to the same rules that apply to federal credit unions.
The group also heard from Andy Keeney on loan workouts and modifications. On Wednesday, it viewed NAFCU's webcast on social media and website regulatory compliance issues.
Today, Scoggins is set to discuss the proliferation of lawsuits targeting overdraft practices, and Dennis Simmons will look at common problems in automated clearinghouse transactions. Keeney will lead a session on credit union board policies.
NAFCU’s Regulatory Compliance Seminar is open to anyone interested in learning about regulatory compliance matters affecting credit unions. It’s a regular program for many NAFCU Certified Compliance Officers, who can attend to recertify to maintain their designation.
Registration for the 2013 seminar is open now.