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.

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.…

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…

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…

The Small Business Administration (SBA) provided several updates to financial institutions this week regarding the rollout of the Paycheck Protection Program.

Penobscot County Federal Credit Union and The County Federal Credit Union provide an update about the proposed merger of these institutions.

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…

The new year not only marks the start of a new decade, but also the effective date of several important rules for credit unions.

InfoSight announced several major enhancements to its online compliance platform for credit unions. InfoSight is a free compliance resource available to all Maine credit unions…

The U.S. Court of Appeals for the D.C. Circuit denied the American Bankers Association’s appeal for a rehearing en banc in its lawsuit against NCUA’s field of…

Earlier this week, four federal agencies issued a statement to clarify rules for banks providing services to hemp-related businesses.

The Consumer Financial Protection Bureau plans to issue a final rule in April that would rescind strong underwriting requirements for payday lenders.

The Bureau of Motor Vehicles has asked the League to share a memo with our credit unions concerning the titling process for motor homes. This…

Regtech may be one of the hottest new methods for financial institutions to navigate the compliance burden, but are smaller credit unions getting left behind…