Blue Light Special – Kmart breach deadline approaching

From 03/30/17 Cuna News: Credit unions have until April 18 to file a claim, request to opt out or object to the settlement reached between plaintiffs and Kmart in a data breach lawsuit. A data breach was detected at Kmart in October 2014 and could have affected the cards of anyone who shopped with a credit or debit card between … Read More

dot creditunion

From CUNA News 03/28/2017: CUNA, with the generous support of CUNA Mutual Group and CO-OP Financial Services, was able to secure the rights to the .creditunion domain from the Internet Corp. for Assigned Names and Numbers (ICANN). Beginning this summer, credit unions will be able to register and use a .creditunion domain name of their choice to serve as a … Read More

NASCUS & DFI Credit Union Executive Forum

On March 24, the DCU published bulletin B-17-08 regarding the NASCUS & DFI Credit Union Executive Forum on May 23, in SeaTac, WA.  The bulletin is reprinted below. NASCUS & DFI Credit Union Executive Forum, May 23, 2017 Still time to register for the CU Executive Forum Tuesday, May 23 in SeaTac, WA You still have time to register for the … Read More

NASCUS Cybersecurity Symposium

On March 24, the DCU published bulletin B-17-09 regarding the NASCUS Cybersecurity Symposium June 5-6 in San Diego, CA.  The bulletin is reprinted below. NASCUS Cybersecurity Symposium, June 5-6, 2017 Make plans to attend the NASCUS Cybersecurity Symposium San Diego, CA Division of Credit Unions (DCU) encourages credit unions to continue training on cybersecurity. While there are many resources available … Read More

Proposed changes to Regulation B to match Regulation C

The CFPB has issued a proposal to provide flexibility for lenders around the collection of applicants’ demographic data under the Home Mortgage Disclosure Act (Regulation C) and the Equal Credit Opportunity Act (Regulation B). Currently, under Reg B, creditors are prohibited from requesting information about consumers’ race or ethnicity, except to the extent required to monitor compliance with ECOA or … Read More

Delayed responses April 5 – April 7

FYI Jim will be out of the office April 5 through April 7, 2017, with very little access to ticket requests. During this time, if you need a more immediate response, submit your request normally through our Workfront page, AND, email with the ticket number and requested response date.  

Oregon – Proposed HB 2581 Access Device and Security Breaches

Proposed House Bill 2581 would require a person that possesses or has access to account information to report breach of security to the financial institution that issued financial access device.  Person includes:  an individual, a private or public corporation, partnership, cooperative, association, estate, limited liability company, organization or other entity. The Bill proposes to: Require a person to safeguard account … Read More

DCU Bulletin B-17-06 Obtaining Audit Reports from Third-Party Providers

The Division of Credit Unions has published Bulletin B-17-06 regarding examiners obtaining audit reports from third-party providers. Annual audit reports are required for Federally Insured State Credit Union’s (FISCUs) with $500 million or more in assets. For those with less than $500 million, either of three supervisory committee audit options are available.   See:   §715.4   Audit responsibility of … Read More

DCU Bulletin B-17-07 Assets in the Process of Liquidation

The Division of Credit Union published Bulletin B-17-07 regarding the reporting of assets in the process of liquidation.  The Bulletin is reprinted below.  Please refer to the original link for footnotes. Assets in the Process of Liquidation The purpose of this bulletin is to set guidelines for how examiners will evaluate assets in the process of liquidation during examinations. Specifically, … Read More

Proposed Delay in Prepaid Rule

The CFPB has proposed delaying the effective date of its final rule on covered prepaid accounts.  The delay would move the effective date from October 1, 2017 to April 1, 2018. From the CFPB: Today, we released a proposal to delay the effective date of our rule governing prepaid accounts by six months. The CFPB’s prepaid accounts rule will provide … Read More