The National Credit Union Administration issued three letters to credit unions in the early days of 2021. The letters covered the COVID-19 relief/government funding bill,…

Topics in this week’s edition include: NCUA Proposes Amendment of SAR Regs 2019 Terrorist Assets Report FinCEN Issues COVID-19 Scam Alert OFAC Adds FAQs On…

The CFPB issued a final rule to implement Fair Debt Collection Practices Act requirements regarding certain disclosures for consumers.

The National Credit Union Administration Board has released its monthly meeting schedule for 2021. NCUA also announced it will be making several enhancements to its…

Senators Collins and King voted in favor of Kyle Hauptman’s nomination to the NCUA Board of Directors. Hauptman will replace former NCUA Chair and Board…

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.

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…

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…

The Maine Department of Health and Human Services announced plans to distribute rapid COVID-19 antigen tests across Maine.

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…

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 issued a letter to federally insured credit unions containing additional guidance for credit unions that are serving, or considering serving, legal hemp-related businesses.

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…

On June 17, the NCUA will host a free 90-minute webinar to discuss best practices in Bank Secrecy Act programs.

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…

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…

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…

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.…

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…

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 addressed Maine credit union CEOs and the League on a town hall call on April 22.