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New on the Compliance Blog: Government shutdown, AI
As credit unions work to meet the needs of more than 138 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:
The Looming Government Shutdown: Regulatory Compliance Counsel JaMonika Williams details guidance from the NCUA on business operations during a government shutdown and highlights how a lapse of FEMA’s authority to issue flood insurance is concerning for the industry. Williams also notes other compliance considerations for credit unions if there is a government shutdown.
Artificial Intelligence and Adverse Actions: Director of Regulatory Compliance Nick St. John highlights the CFPB’s recently published Consumer Financial Protection Circular regarding Artificial Intelligence (AI) and Adverse Action Notices. St. John notes the new circular is consistent with the CFPB’s previous statements regarding those topics, including the regulatory commentary on the use of the CFPB’s model notices.
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