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New on the Compliance Blog: Biden’s COVID-19 Executive Orders, new NCUA exam procedures, and more
As credit unions work to meet the needs of more than 127 million Americans during the coronavirus pandemic, NAFCU's award-winning regulatory compliance team continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.
Here’s a roundup of what’s new this week:
Executive Order on Vaccine Mandates: NAFCU Vice President of Regulatory Compliance Brandy Bruyere provides a breakdown of the Biden Administration’s plans and Executive Orders on the pandemic, specifically the Executive Order vaccine mandates. Bruyere specifies helpful information for credit unions as they assess how they may be impacted by the order.
TISA Advertisement Trigger Term Exemptions under 707.8(e)(1): NAFCU Regulatory Compliance Counsel Keith Schostag drills down the NCUA’s Truth in Savings Regulation (TISA), Section 707.8 advertising requirements in Wednesday’s Compliance Blog. Under TISA, credit unions are required to disclose additional terms if an advertisement mentions an annual percentage yield and/or a bonus is offered.
NCUA’s Exam Modernization Efforts: In today’s blog, NAFCU Senior Regulatory Compliance Counsel Loran Jackson details the NCUA’s ongoing efforts to modernize examination procedures through new online tools or applications. Jackson goes in depth on NCUA’s latest webinar explaining the changes and features of the Admin Portal, the Data Exchange Application (DEXA), and the Modern Examination & Risk Identification Tool (MERIT).
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