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…
Advocacy Works
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…
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…
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…
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…
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…
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…
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…
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…
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…