In today’s financial services environment, keeping up with the regulatory compliance landscape is challenging, and takes an ever-increasing commitment of your credit union's time and energy. Our REGular Blog is designed to keep you informed of what’s happening in the regulatory compliance world by providing not only our thought leadership and perspective, but also linking you to helpful resources from other trade associations and industry groups. From Richmond to Alexandria to Washington, stay in the know on issues to help you stay one step ahead of the regulators.
- New NCUA Board Member Otsuka Will Have First Official Board Meeting Thursday
January 16, 2024The NCUA Board will meet on Jan. 18 to consider two items: a Board briefing on NCUA’s 2024-2026 Diversity, Equity, Inclusion, and Accessibility strategic plan and a discussion of NCUA’s 2024 Annual Performance Plan. This will be the first official meeting for new Board member Tanya Otsuka, who was sworn in earlier this month.
- League Eager to Work on CU Issues with New NCUA Board Member Tanya Otsuka
January 8, 2024The Honorable Tanya Otsuka became the 25th Board Member of the National Credit Union Administration following a private swearing-in ceremony held at the agency’s Alexandria, Virginia, headquarters today. "The Virginia Credit Union League congratulates Ms. Otsuka and looks forward to working with her as a member of the NCUA board to ensure credit unions have the tools they need to serve members," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- FinCEN Begins Accepting Beneficial Ownership Reports; League Notes Issues for CUs
January 8, 2024The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has started to accept beneficial ownership information reports, in accordance with the Corporate Transparency Act. Your League recently published a blog post covering credit union compliance issues related to BOI.
- League Comments on NCUA's Move to Simplify Share Insurance Rules; Opposes Agency's Interest in New Recordkeeping Requirement
December 28, 2023Your League this week submitted comments on NCUA's proposed amendments for regulations governing share insurance coverage.
- Regulatory Compliance Weekly Roundup: December 21, 2023
December 21, 2023Happy…Thursday everyone! With the holidays upon us, the weekly roundup is one day early this week! Here's a quick overview of some of the headlines from the week in regulatory compliance.
- Senate Confirms Otsuka to Serve on NCUA Board
December 20, 2023The Senate voted to confirm Tanya Otsuka to serve on the NCUA board Wednesday. Otsuka currently serves as senior counsel for the Senate Banking Committee and was nominated by President Joe Biden in September. "The Virginia Credit Union League looks forward to working with Ms. Otsuka as a member of the NCUA board," said League President/CEO Carrie Hunt. "We are excited to see her bring her talents to the credit union industry."
- NCUA Board Meeting Recap - December 2023
December 15, 2023We highlight key items of interest from the Dec. 14 NCUA Board Meeting, including the passage of the agency's 2024-2025 budget.
- League InfoSight Launches CU PolicyPro & RecoveryPro Platform
December 15, 2023League InfoSight has completed the first phase of its product combination, which brings CU PolicyPro and RecoveryPro together on a single, integrated platform! This is the first step in a larger initiative to bring InfoSight, CU PolicyPro, and RecoveryPro under a single sign-on for a seamless user experience.
- League Offers Archived Video of Dec. 6 Compliance Roundtable
December 6, 2023Your League hosted its 4th quarter Compliance Roundtable on Dec. 6. The archived webinar and other resources are now available. Our roundtables are designed to aid your team in building its compliance resources, boosting its regulatory expertise and saving time.
- NCUA Reinstates Civil Money Penalties for Late Call Report Filing
November 28, 2023The National Credit Union Administration today announced that it will reinstate assessing civil money penalties for credit unions failing to submit NCUA Form 5300 Call Report on time, effective January 1, 2024.
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