Regulatory & Compliance

ALEXANDRIA, Va. -- NCUA appears to be following through with the agenda of greater emphasis on consumer protection that the Democratic Congress has signaled it wants.

ALEXANDRIA, Va. -- NCUA appears to be following through with the agenda of greater emphasis on consumer protection that the Democratic Congress has signaled it wants.

WASHINGTON -- As credit union lobbyists prepare for more possible movement on CURIA this year, they have urged credit unions to make a special visit to their members of Congress or their staff during this year's August recess.

Responding to NAFCU's letter to Washington's Department of Financial Institutions recently that private primary deposit insurance "threatens" the dual chartering system, NASCUS stated that the state regulators can handle oversight of their credit unions.

The recently concluded session of the Oregon legislature provided key victories for credit unions including the right to handle an array of nonmember products, accept homeowner and condo deposits, plus new oversight on financial literacy.

House Financial Services Committee leaders have requested a Government Accountability Office study of the mission and operational capacity of Treasury's Financial Crimes Enforcement Network and the increasing number of Bank Secrecy Act-related filings.

Freshman Congressman Joe Sestak (D-Pa.) signed on as a co-sponsor to the Credit Union Regulatory Improvements Act (H.R. 1537) in the waning hours of Congress prior to the August recess.

State chartered credit unions in California will operate under an updated set of rules next year, thanks to a Credit Union Modernization Bill that sailed through the legislature with no opposition.