On December 28, 2016, the NCUA released Letter to Credit Unions 16-CU-12, detailing their exam scheduling policy which goes into effect January 1, 2017. For state-charted, federally insured credit unions, the Letter details that: Credit unions meeting any one of the following three criteria will receive NCUA exams that will begin between 8 and 12… Read More »
It’s that time again… Homeowners that the credit union has provided a Notice of Default to, and lived in their home when the foreclosure processes started, are eligible to participate in Washington State’s Foreclosure Fairness Act Mediation Program, unless the credit union has conducted less than 50 foreclosure sales during the previous year, and claimed their… Read More »
Back in May we blogged about this (reprinted below), and since it goes into effect January 1, 2017, we thought we might refresh everyone’s memory… The Washington State Legislature passed Senate Bill 5635, which repeals the Washington State Power of Attorney Act and replaces it with a slightly modified Uniform Power of Attorney Act. The… Read More »
NCUA released guidance on the new member business lending (MBL) rules, which go into effect in January. The guidance is incorporated into the NCUA’s new online Examiner’s Guide. Letter to credit unions 16-CU-11 states “Guidance that elaborates on the principles of sound commercial lending reflected in revised Part 723, along with those addressing the statutory… Read More »
The Washington State DCU plans on restarting to conduct website compliance exams beginning mid-December. These exams will not be performed in conjunction with regular safety and soundness examinations, nor will there be giving a separate website compliance rating. Examiner’s concerns and findings will be included in a separate website compliance exam report. The exam report… Read More »
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