January 26, 2023

New on the Compliance Blog: NCUA supervisory priorities, Wells Fargo’s $3.7B fine

ComplianceAs credit unions work to meet the needs of more than 134 million Americans, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday and Wednesday. 

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

NCUA Releases 2023 Supervisory Priorities: Regulatory Compliance Counsel Justin White breaks down the NCUA’s 2023 supervisory priorities, which identify new and existing initiatives the agency will focus on throughout the year.

Of note, the NCUA will host a webinar to discuss the priorities, happening Tuesday at 2 p.m. Eastern. During the webinar, Christel Orusede, from the NCUA’s Office of Examination and Insurance, will moderate a panel of NCUA subject matter experts who will discuss the priorities and other aspects of the agency’s examination program for the year. Registration for next week’s event is open.

CFPB Enforcement Action Against Wells Fargo Orders Billions in Redress and Civil Money Penalty: Senior Regulatory Compliance Counsel Rebecca Tetreau reviews the CFPB’s enforcement action against Wells Fargo that requires the bank to pay more than $2 billion in redress to its customers and a $1.7 billion civil money penalty.

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