Oregon – Proposed House Bill 2161

House Bill 2161 has been introduced to update the State’s Credit Union Act. Included in the Bill are a provision allowing the expulsion of a member that creates undue risk of loss, the elimination of the requirement that the credit union’s board of directors meets 10 times a year (the minimum sill be established by the director), and changes the … Read More

NCUA 17-RA-01

The NCUA issued its first 2017 Regulatory Alert to credit unions regarding the recent amendments to the Mortgage Servicing Rule, the CFPB’s FDCPA interpretive rule regarding safe harbors from FDCPA liability. The recent amendments to the Mortgage Servicing Rule clarify (i) Regulation X (RESPA) provisions regarding force-placed insurance notices, mortgage servicing policies and procedures, early intervention, and loss mitigation requirements, … Read More

Contaminated Currency

From the Federal Reserve: January 30, 2017 In response to customer feedback, the Federal Reserve updated its procedures for submitting deposits of contaminated currency. The updated procedures are available on the Contaminated Currency and Coin page of FRBservices.org. In addition, the FedCash® Services Contaminated Currency Notification Form (CASH-04) and Deposit Visual Reference Guide were updated to reflect the changes. Effective … Read More