New on the compliance blog: CU members’ right to inspect, NCUA’s spring 2022 rulemaking agenda

June 30, 2022

New on the compliance blog: CU members’ right to inspect, NCUA’s spring 2022 rulemaking agenda

As credit unions work to meet the needs of more than 131 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog, published every Monday and Wednesday.

Here's a roundup of what's new this week:

Executive Sessions and the Right to Inspect: NAFCU Regulatory Compliance Counsel Justin White examines a federal credit union (FCU) member’s right to inspect the books and records of a FCU so long as the member has a “proper purpose for obtaining the records” as established under Article XVI, Section 6 of the NCUA Model Bylaws. The right to do so may create a curious question as to whether this applies to all board meetings, including less formal meetings such as executive sessions, and how this requirement may create confidentiality and privacy issues relating to the potential disclosure of board member discussions.

NCUA's Spring 2022 Rulemaking Agenda - a Mid-Year Refresh: In Wednesday’s blog, Regulatory Compliance Counsel Rebecca Tetreau shares an overview of the NCUA’s recently released spring 2022 rulemaking agenda. Tetreau details changes to the agency’s previous agenda and some new actions credit unions should be aware of. These changes include NCUA’s rulemaking on digital assets and related technologies, automated valuation models (AVMs), field of membership regulations, and more.

Sign up to receive the latest Compliance Blog post in your inbox. Access additional compliance resources, including a compliance calendar, numerous final regulation summaries and more here.

Related Resources

August 18, 2022

CuneXus Digital Storefront | 2022 Innovation Award Finalist

preferred partner

CUNA Mutual Group

Video

August 18, 2022 Add to Calendar 2022-08-18 14:00:00 2022-08-18 14:00:00 Credit Union Testimonial: How BCU is Accelerating Transformation & Expanding Financial Wellness with AI About the Webinar The global economic landscape is undergoing some major changes. High inflation, rising interest rates and uncertainties surrounding economic recession have caused some credit unions to scale back on digital transformation initiatives. This is a key time, however, for credit unions to seek new areas of opportunity to achieve their desired return targets while limiting losses. AI and machine learning models offer a more targeted approach for assessing member creditworthiness than traditional methods. Discover how your credit union can tap into personal lending opportunities and expand credit access to more borrowers quickly, with minimal upfront costs. In this webinar, Dave Brydun, SVP/Chief Lending Officer, will share how BCU grew its personal loan portfolio while limiting losses and gaining new members. This webinar will cover: How BCU originates loans digitally to acquire more borrowers, without disrupting its branch network or processes. How BCU expanded its footprint nationally while providing an optimized digital experience Discover how credit unions can use sophisticated machine learning models to more accurately identify risk and approve more applicants than traditional, credit score-based lending models. Watch the Webinar On-Demand Web NAFCU digital@nafcu.org America/New_York public

Credit Union Testimonial: How BCU is Accelerating Transformation & Expanding Financial Wellness with AI

preferred partner

Upstart

Webinar

August 17, 2022

Algorithmic Action - UDAAPs and a Fine for Hello Digit

Examination & Enforcement

Newsroom