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
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CIP Flexibility
I spoke with a credit union that was thinking of getting into the student loan business. But here was their dilemma: they were going to be making loans to some students that had not been…
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Data Breaches
Here's a great blog posting on data breaches. The blogger quotes a study that shows that data breach reporting is up almost 70 percent. That can mean one of two things: there are more breaches,…
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Environmental Risk in Real Estate Lending; NAFCU Softball
NCUA recently issued Letter to Credit Union 08-CU-13, which warns federally-insured credit unions about the environmental risk that exists in real estate lending. In NCUA's words: The purpose of this letter is to inform all…
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NCUA Happenings
(Editor's note. I originally had a long and happy post on things happening at NCUA. Then the computer crashed, and the post was lost. As was the 30 minutes I spent putting it together. What…
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Plug Those Leaks
A while ago, I penned this article for the CU Times. I was trying to describe what I do to some friends when the article almost wrote itself. I hope you enjoy it, and keep…
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HSA....Q and A!
You know how much I love "question and answer" guidance. (Here's an earlier post that lists some of my favorite FAQ's.) Yesterday, Treasury released this "question and answer" guidance document that addresses Health Savings Accounts.…
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Enough Fidelity?; Married Life
I just spoke with a federal credit union that was shocked to learn that it was not holding enough fidelity bond coverage, based on its assets. This credit union had been examined and audited a…
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BSA Consent Order
Earlier this month, the Comptroller of the Currency (OCC) issued this consent order against Eastern National Bank of Miami, Florida. Now, you have to take another person's consent order with a grain of salt. It…
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A Good FREE Risk Management Tool
Every once in a while, I read a document and ask myself this: "Yikes! How long have I overlooked this?" And so it was as I read Chapter 2 of NCUA's Examiner's Manual. At the…
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Red Flags; And the winner is.....
I've been getting a lot of calls about Red Flags lately. Folks want to know if there are any templates out there or any good guidance. Well, here're (is that a word?) my thoughts: Beware…