Regulatory & Compliance

After a bit of catch-up, NCUA is now generally viewed as "on par" with the other banking regulators regarding Bank Secrecy Act examination and credit unions' need to be ready for it, including how to respond if they are hit with a violation.

Several banking trade groups recently offered feedback on a Securities and Exchange Commission proposed regulation that would exempt banks from having to register with the agency for certain brokerage activities.

Several banking trade groups recently offered feedback on a Securities and Exchange Commission proposed regulation that would exempt banks from having to register with the agency for certain brokerage activities.

The Federal Reserve Board has issued its final rule amending Regulation E allowing financial institutions to skip making a receipt available for purchases of $15 or less.

The Credit Union Regulatory Improvements Act (H.R. 1537) recently gained three more co-sponsors bringing the total to 107.

The IRS is currently circulating proposed updates to its Form 990 for tax-exempt organizations, which has not been touched since 1979.

NASCUS President/CEO Mary Martha Fortney was recently elected to serve as president-elect of Women in Housing and Finance.

The Small Business Administration selected Mazuma Credit Union as a 7(a) program Express lender.