NAFCU Compliance Blog


"A daily dose of legal and compliance-related information pertaining to federally chartered credit unions."

Author: Anthony Demangone is the National Association of Federal Credit Unions' senior compliance counsel.

Blawg Related Categories: Banking Law • In-house Lawyer

Recent Posts from NAFCU Compliance Blog


  • NCUA Board Meeting

    Posted by Sarah Loats NCUA conducted a busy Board meeting yesterday. The items on the agenda were: 1. NCUA's 2010/2011 Operating Budget 2. NCUA's Overhead Transfer Rate 3. NCUA's Operating Fee Schedule 4. Proposed rule…

  • Nonmember deposits? You bet!

    Posted by Anthony Demangone Recently, NCUA issued Legal Opinion Letter 09-1022, which discusses whether funds invested through a placement service would gain pass-through insurance from the NCUSIF. NCUA responds with a simple yes, but clarifying…

  • Model Privacy Form

    Posted by Anthony Demangone Yesterday, a number of government agencies indicated that regulators, including NCUA, have released the model privacy form. There's no word from NCUA yet, but I bet they make their own announcement…

  • Odds and Ends

    Posted by Anthony Demangone The regulators do not seem to grasp the idea that some of us have Holiday shopping to do. The pace of news has been furious, and it doesn't seem to be…

  • Reg E Rule: Possible Exception Overview

    Posted by Anthony Demangone On Friday, I wrote about the recently issued final rule that amends Regulation E to provide new consumer protections concerning overdraft protection. My phone and email box starting to overheat, and…

  • Regulation E Final Regulation Released: Worst Case Scenario Realized

    Posted by Anthony Demangone Yesterday, the Federal Reserve issued a final rule to amend Regulation E to limit the ability of financial institutions to charge overdraft fees for one-time POS and ATM transactions. Under the…

  • Fed Guidance on HPMLs, "Balloons" and Ability to Repay

    Posted by Anthony Demangone Earlier this week, the Fed issued a nice guidance document to clear some confusion on higher priced mortgage loans that centered on balloon loans and verifying the borrower's ability to repay.…

  • As Tomorrow is Veterans Day...

    Posted by Anthony Demangone Tomorrow is Veterans Day. NAFCU's offices will be closed tomorrow, and there will be no blog update. In honor of the holiday, I wanted to share some resources that help explain…

  • Grab Bag

    Posted by Anthony Demangone Here are a few items of interest. HUD has issued a number of civil money penalties against financial institutions. In addition, HUD has settled allegations of non-compliance with several others. The…

  • President Signs H.R. 3606 into Law

    Posted by Anthony Demangone Earlier today, President Obama signed H.R. 3606 into law, which provides a technical fix for the 21-day issue by limiting its affects to credit card accounts. Let me know when you're…