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The Maine Bureau of Financial Services provided state-charted credit unions with a ransomware self-assessment tool to help mitigate the risk of a cybersecurity attack.
Register Now for Webinar on NCUA’s Response to COVID-19
Federally insured credit unions can learn more about the National Credit Union Administration’s response to the COVID-19 pandemic by participating in a webinar hosted by…
New Mask Signage Available for Download on League Site
To help credit unions communicate their compliance with Governor Mills’ latest Executive Order requiring face masks be worn in all public settings, the League has…
NCUA Hosting Webinar on Fair Lending and Consumer Compliance Updates
Credit unions can get valuable information on a range of fair lending and consumer compliance topics during an upcoming webinar hosted by the National Credit…
New Executive Order Tightens Face Mask Requirements; Limits Gatherings
Earlier this week, Governor Mills signed a new Executive Order requiring that face masks be worn, regardless of the ability to socially distance in all…
CFPB Releases Final Debt Collection Rule
The CFPB issued a final debt collection rule, making it clear that the agency is not trying to regulate “first party debt collectors,” such as…
Rapid COVID-19 Testing Is Coming to Maine
The Maine Department of Health and Human Services announced plans to distribute rapid COVID-19 antigen tests across Maine.
Maine DOL Finalizes Rules for New Earned Employee Leave Law
The Maine Department of Labor has finalized rules outlining the specifics for implementing the state’s new earned time off law. The new rules include several…
Unemployment Fraud Investigation Update
Earlier this week, the League was contacted by the U.S. Secret Service with a request concerning the state unemployment fraud investigation. Credit unions can help…
NCUA Issues Letter to CUs Regarding the Servicing of Hemp-Related Businesses
NCUA issued a letter to federally insured credit unions containing additional guidance for credit unions that are serving, or considering serving, legal hemp-related businesses.
NCUA Changing Q2 Call Reports to Reflect Coronavirus
The NCUA has announced changes to second quarter call reports as a result of the Coronavirus Aid, Relief, and Economic Security Act and recent amendments…
NCUA to Host Free Bank Secrecy Act Webinar
On June 17, the NCUA will host a free 90-minute webinar to discuss best practices in Bank Secrecy Act programs.
Unemployment Insurance Fraud Impacts Mainers and Financial Institutions
As the League has been reporting, a massive, ongoing unemployment insurance fraud scheme is impacting consumers and financial institutions throughout Maine. Because this effort is…
SBA Issues Notice Regarding PPP Loan Reporting
The SBA issued a procedural notice outlining the process for reporting Paycheck Protection Program loans to the SBA. The notice also outlines what lenders need…
FHFA Extends Loan Processing Flexibilities for Fannie Mae and Freddie Mac Customers
The Federal Housing Finance Agency extended several loan origination flexibilities currently offered by Fannie Mae and Freddie Mac designed to help borrowers during the COVID-19…
New Guidance Issued for Workplace Compliance with the ADA During COVID-19
The U.S. Equal Employment Opportunity Commission has updated its guidance to help credit unions and other employers navigate the impact of COVID-19 in the workplace.…
SBA Offers New Updates to Support the PPP
The Small Business Administration offered new updates in support of the Paycheck Protection Program. These updates follow the launch of a second round of PPP…
CUNA/League Advocacy Results in Fed Removal of Reg D Account Transfer Limit
On April 24, the Federal Reserve Board announced an interim final rule to amend Regulation D to delete the six-per-month limit on convenient transfers from…
NCUA Chairman Rodney E. Hood Joins Maine CU Town Hall Call
NCUA Chairman Rodney E. Hood addressed Maine credit union CEOs and the League on a town hall call on April 22.
Handling Expired State IDs
COVID-19 has forced the closure of Department of Motor Vehicles field offices in Maine and in other states. Many states—including Maine—have granted extensions for licenses.…
Stimulus Funds Deposits and Messaging for Members
CUNA’s Compliance team has provided guidance to answer some of the most commonly asked questions concerning stimulus funds deposits. The League also has prepared a…
Federal and State Regulators Release Updates to BSA/AML Examination Manual
The Federal Financial Institutions Examination Council released several updates to the Bank Secrecy Act/Anti-Money Laundering examination manual. The manual is used to evaluate compliance with…
Paycheck Protection Program Updates
The Small Business Administration (SBA) provided several updates to financial institutions this week regarding the rollout of the Paycheck Protection Program.
The County FCU and Penobscot County FCU Provide Merger Update
Penobscot County Federal Credit Union and The County Federal Credit Union provide an update about the proposed merger of these institutions.
Business Mileage Rate Correction for 2020
Last week, we inaccurately reported the Internal Revenue Service’s 2020 business mileage rate. Effective January 1, the standard mileage rates for the use of a…