Regulatory & Compliance

Of the few dozen financial services representatives in the room for their first meeting with the new Treasury secretary, CUNA President and CEO Dan Mica and the heads of the three banking trades made certain to be part of the handful that actually stood up to speak.

The Federal Trade Commission and Federal Reserve Board issued a joint report to Congress last week on compliance with the consumer dispute provisions of the Fair Credit Reporting Act.

The Federal Financial Institutions Examination Council, which includes NCUA, recently released a revised version of the Bank Secrecy Act/Anti-Money Laundering Examination Manual.

The Federal Trade Commission issued a final rule at the end of last month increasing the annual fee for access to the Do Not Call Registry.

The Federal Communications Commission amended its "junk fax" rules to codify the exemption of those with established business relationships effective Aug. 1.

Richard C. Stearns has been named the new director of enforcement and compliance at the Office of the Comptroller of the Currency.

Last week, NCUA determined it necessary to place Mt. Hebron Baptist Federal Credit Union into conservatorship to bring it back to a safe and sound operating status.

Newly installed Treasury Secretary Henry Paulson announced last week that Adam Szubin will serve as the next director of Treasury's Office of Foreign Assets Control.