February’s Regulatory Recap is now available. Check it out here. If you have questions, please contact us. The compliance professionals at CSG are not attorneys and, therefore, the services we provide should not be considered a legal opinion or other legal analysis pertaining to the information covered. We urge you to consult with your legal advisor before revising products or … Read More
Private Flood Insurance Requirements Effective July 1, 2019 The OCC, Federal Reserve, FDIC, FCA, and NCUA issued a joint final rule, effective July 1, 2019, requiring regulated institutions to accept certain private flood insurance policies in addition to the National Flood Insurance Program (NFIP) policies. A Private flood insurance is an insurance policy that: 1. Is issued by an insurance … Read More
Payday, Vehicle Title, and High-Cost Installment Lending Rule (Payday Lending Rule) Status & Timeline Currently, the Payday Lending Rule is stayed pursuant to a court order issued in Community Financial Services Association v. CFPB, No. 1:18-cv-00295 (W.D. Tex. Nov. 6, 2018) Compliance with the Rule is not required until the court-ordered stay is lifted. October 5, 2017 – The … Read More
January’s Regulatory Recap is available here. It includes information on HMDA, penalty adjustments, and Washington & Oregon legislative sessions. If you have any questions, please let us know. If you want the Recaps emailed to you, please complete the Contact Us information below. Law-Related Services Disclaimer. Please be advised, CSG provides financial services compliance audit and consulting services to … Read More
August’s Regulatory Recap is available here, and contains almost everything you need to know about what happened during the month. It includes the changes to Regulation Z thresholds, the “new” Privacy rules under Regulation P, proposed regulations, and links to resources to make life just that much easier. If you have any questions, please contact us.
March’s Recap is now available here.
February’s Recap is now available here. It contains the change to the Prepaid Rule effective date, resources for financial institutions, a summary of interesting news of the month, and updates on Washington and Oregon’s legislative activity. Please contact us if you have questions. Blog posts generally contain only a summary of any requirements, and do not represent all potential impact … Read More
On January 8, 2018, the DCU released bulletin B-18-01 highlighting its examination focus areas for 2018 to help credit unions prepare for their examinations. The Bulletin is reproduced below, but the original should be referred to for additional references: Examination Focus for 2018 This Bulletin establishes the Division of Credit Unions’ (Division’s) examination focus areas for 2018 and will help … Read More
On January 4, 2018 the DCU released (revised) Bulletin B-17-17 and Revised Interpretive Letter I-17-04, regarding virtual and hybrid annual or special membership meetings. The Bulletin and Interpretive Letter were originally released on November 20, 2017, and then immediately pulled from the DCU’s website. The new releases amend the information regarding these types of meetings, and should be referred to. … Read More
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