Three Quick Compliance Notes

June 13, 2016 at 8:53 am Leave a comment

Good Morning folks. Here are three helpful compliance tidbits with which to start you week.

  1. NCUA has released a video on everyone’s favorite subject: Succession planning. I jest but in all seriousness it’s one thing for credit unions to merge because of economic realities but it’s quite another to merge because no one gave any thought to who the next leader would be. The latter is a totally avoidable self-inflicted wound on the whole industry.
  2. The OCC sent out this reminder to banks that Congress has once again extended, until December 31, 2017, protections against foreclosures and seizures of property purchased by military personnel before they entered military service. The SCRA forbids foreclosures on property during the member’s   military service and for one year thereafter.
  3. Last but not least, one of my favorite compliance tools, The Federal Reserve’s Quarterly Compliance Outlook is available on newsstands now for compliance geeks everywhere.   I exaggerate slightly but, so long as you keep in mind that not every regulation it talks about is applicable to credit unions, I have always found this to be a very useful resource.

Entry filed under: Compliance. Tags: , , .

Thinking of Merging? Read this Blog. Will Payday Loan Proposal Impact State Regulation?

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Authored By:

Henry Meier, Esq., General Counsel, New York Credit Union Association.

The views Henry expresses are Henry’s alone and do not necessarily reflect the views of the Association.

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