Advocacy Works

Aug 17, 2020

Examining the NCUA Board’s FOM Rule Changes

Last month, the NCUA Board unanimously approved a final rule that would help facilitate greater access to safe and affordable financial services by changing the agency’s chartering…

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Aug 14, 2020

BSA/AML Requirements Enforcement Statement Issued by Joint Federal Agencies

The federal banking agencies issued a joint statement updating their existing enforcement guidance to enhance transparency regarding how they evaluate enforcement actions that are required by statute…

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Aug 13, 2020

CrossState InfoSight Topic Highlight: Complaint Management

Because the Federal Financial Institution Examination Council (FFIEC) provides guidance that a credit union should have an effective complaint management system (CMS) in place, it…

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Aug 12, 2020

CFPB Issues Additional Small Dollar Lending FAQs

The Consumer Financial Protection Bureau (CFPB) issued several frequently asked questions (FAQs) about the Small Dollar Lending Rule.  The FAQs pertain to the compliance with the Payday…

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Aug 11, 2020

Equifax Data Breach Settlement Claim Information Sent to All Eligible CUs

The settlement administrator for the Equifax data breach settlement has now sent out information on making a claim to credit unions it knows to be…

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Aug 10, 2020

FinCEN Issues FAQs Regarding Customer Due Diligence Requirements

The Financial Crimes Enforcement Network (FinCEN), in consultation with the federal functional regulators, issued responses to three frequently asked questions (FAQs) regarding customer due diligence (CDD) requirements for…

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Aug 7, 2020

Hood Appoints Harper to NeighborWorks America Board of Directors

The National Credit Union Administration (NCUA) Chairman Rodney E. Hood announced the appointment of Board Member Todd M. Harper as the agency’s representative on the Board…

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Aug 6, 2020

Come Check Out CrossState’s Newly Launched InfoSight

CrossState launched its new and improved InfoSight. Members have access to a variety of topics and resources like our latest highlighted topic: Non-Traditional Mortgage Products.  Here’s a…

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Aug 5, 2020

SBA Releases Loan Forgiveness FAQs

The Small Business Administration (SBA), in consultation with the Department of the Treasury, is providing guidance to address borrower and lender questions concerning forgiveness of…

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Aug 4, 2020

FinCEN Advisory on Cybercrime and Cyber-Enabled Crime Exploiting COVID-19

The Financial Crimes and Enforcement Network (FinCEN) issued a FinCEN Advisory, FIN-2020-A005, to alert financial institutions to potential indicators of cybercrime and cyber-enabled crime observed during…

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