Newsroom

NAFCU's December Compliance Monitorprovides a one-stop, year-end reviewof final rules, proposals and guidance affecting credit unions' regulatory compliance responsibilities. The issue is available now for download.

Brandy Bruyere, NAFCU's director of regulatory compliance, details both the NCUA's and the CFPB's highlights from 2016, noting NCUA's member business lending and field-of-membership rules, and the bureau's final rule amending certain mortgage servicing rules.

Other key compliance topics, among others, addressed in this month's Monitor include:

• incentive-based compensation;
• private flood insurance;
• the final prepaid accounts rule;
• arbitration;
• annual privacy notice requirements;
• payday lending;
• third-party debt collection;
• the Financial Crimes Enforcement Network's customer due diligence rule;
• the Department of Defense's Military Lending Act rule; and
• the Department of Labor's fiduciary and overtime rules.

The Compliance Forum, also in this month's issue, answers questions about, among other topics, the Bank Secrecy Act and finance charges under Regulation Z.