The Banking Brotherhood (FRB, FDIC, NCUA and OCC) released a list of frequently asked questions regarding the new accounting standards that introduced the Current Expected Credit Losses (CECL) methodology.  The intent of releasing the questions is to help institutions and examiners understand and abide by the new requirements. The new FAQs, which join 23 others originally published in 2016, cover … Read More

Home Depot Suit Deadline Soon

From CUNA: Credit unions have until Sept. 14 to file a claim for payment under the settlement reached between plaintiffs and Home Depot in that data breach lawsuit. CUNA, as well as leagues and credit unions, are among the plaintiffs in the lawsuit, which stems from a 2014 data breach that compromised 56 million credit and debit cards. A website is … Read More

NCUA Has Disaster Resources

The National Credit Union Association released the following, in preparation for Hurricane Irma.  While, thankfully, we are not inline for Irma, those of us in the Pacific Northwest do occasionally experience disasters.   NCUA Has Disaster Resources for Areas Affected by Hurricane Irma ALEXANDRIA, Va. (Sept. 7, 2017) – The National Credit Union Administration recognizes the serious threat Hurricane Irma poses … Read More

OCC Bulletin 2017-35: Flood Disaster Protection Act Booklet

OCC Bulletin 2017-35 The Office of the Comptroller of the Currency (OCC) issued the “Flood Disaster Protection Act” booklet of the Comptroller’s Handbook. This revised booklet replaces a similarly titled booklet issued in May 1999. The revised booklet provides information on changes to the flood insurance requirements resulting from recent amendments to the Flood Disaster Protection Act (FDPA) and the … Read More

FFIEC Industry Outreach Website

The Federal Financial Institutions Examination Council (FFIEC) announced the launch of a new Industry Outreach website designed to share information about financial institution supervision with financial institutions, regulators, the public and other stakeholders, and to provide updates to supervisory guidance and regulations. The website also provides access to upcoming FFIEC-sponsored webinars and includes archived webinars, such as the Military Lending … Read More

August Legislative Recap

August’s Legislative Recap is now available.  Let us know if you have any questions. Passwords to access the blog posts, and blog posts are only for CSG owners and retained clients. These should not be shared outside of the organization. Blog posts generally contain only a summary of any requirements, and do not represent all potential impact on the organization. … Read More