November’s legislative recap is available here.
The DFI released Bulletin B-17-17, along with Interpretive Letter I-17-04, regarding the ability to conduct virtual membership meetings. The short answer is “Credit unions may amend their bylaws to allow for virtual membership meetings, including annual and special meetings.” The longer answer is: The guidance for a virtual membership meeting is as follows: The credit union should review the Interpretive … Read More
The White House announced that the president has signed H.J. Resolution 111, striking down the CFPB’s Arbitration Rule. The Rule will not take effect on March 19, 2018, and a similar rule cannot be enacted without specific authorizing legislation. This does not change any state specific requirements or restrictions regarding arbitration clauses. Passwords to access the blog posts, and blog … Read More
October’s Recap is now available here. 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. For further details on any blog post, contact … Read More
On October 5, 2017, the CFPB released its anticipated 1690-page Rule regarding payday, auto title, and balloon-payment loans. The Rule, while pared down from the June 2016 CFPB’s proposed rule, still covers the ability-to-repay and underwriting requirements, payment restrictions and requirement, and new information reporting for covered loans. (A version of the Rule, with Official Interpretations incorporated is available here.) … Read More
October 9, 2017 Electronic Exam Report Transmission The Division of Credit Unions (Division) is pleased to announce the transition of sending all examination reports through encrypted email for a more efficient process. The Division will begin sending all examination reports electronically beginning on November 1, 2017. If your credit union is unable to receive encrypted email with attachments, please contact … Read More
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
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
July’s Legislative Recap has been uploaded here. Let us know if you have questions.
From the NCUA – NCUA Board seeks comment on Stabilization Fund Closure and Share Insurance Fund Normal Operating Level Credit union system stakeholders are invited to comment on NCUA’s proposed plan to close the Stabilization Fund in 2017. To facilitate the closure and ensure the Share Insurance Fund has sufficient equity to absorb potential losses on NCUA’s claims against the … Read More
