CU Times covers the NCUA, CUNA, NAFCU, CFPB as well as Congress to keep credit union executives up-to-date on regulatory and compliance changes coming out of Washington, D.C.
TAMPA, Fla.--There should be no letup in the push for credit union influence in the Federal Reserve System even though progress remains slow, according to Wendell "Bucky" Sebastian, nearing his first year as a director at the a Fed bank branch.
WASHINGTON--On the eve of a Senate Finance Committee hearing held today, the federal financial regulatory agencies yesterday issued a request for public comment on a statement encouraging federal financial institutions to follow best practices to guard against garnishment of protected federal benefit payments.
House Financial Services Committee Chairman Barney Frank (D-Mass.) reiterated once again that he plans to hold a full committee hearing on the Credit Union Regulatory Improvements Act (H.R. 1537) this fall.
Following the death of House Financial Services Committee Member Paul Gillmor (R-Ohio), Committee Ranking Member Spencer Bachus (R-Ala.) announced two new ranking member positions.
Community banks and credit unions that use technology as part of their Bank Secrecy Act and anti-money laundering programs are much more confident in their compliance with BSA requirements than those financial institutions that rely on more manual approaches, according to a recent survey conducted by Wolters Kluwer Financial Services.
The Washington Credit Union League is going high-tech with compliance and in three months has more than 330 subscribers to an online service in which CU executives are promised answers to common regulatory questions "within eight business hours."