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The Maine Legislature enacted a new Probate Code that will impact how your credit union establishes a single-party and multiple-party account when the new rules…
Liquidity Issues? NCUA’s Recent Nonmember Deposit Proposal May Help
A proposed rule from the National Credit Union Administration could help credit unions address looming liquidity problems.
Congress Should Seek Info From FCC on Call-Blocking Order
CUNA is encouraging the Senate Commerce Committee to press the Federal Communications Commission on what actions and rulemakings, if any, the agency will undertake to ensure…
CUs are Spending Millions Because of Outdated DMV Systems
Even though we live in a digital world, more than half of states – including Maine – still use paper to track auto liens. CU…
Consumer Advocates Endorse 36% Interest Cap on Payday Loans
At a hearing before the House Consumer Protection and Financial Institutions Subcommittee, consumer advocates endorsed plans to impose a 36% interest rate cap on short-term,…
Overdraft Suits an Issue to Watch
CU Today reports on the growing number of lawsuits that are being filed against credit unions over their overdraft practices.
Registration is Open for League Bankruptcy and Collections Conference
The League is now accepting registrations for its Bankruptcy and Collections Conference, being held on June 12 in Brunswick.
Registration Open for NCUA CURE Initiatives Webinar
The National Credit Union Administration is hosting a webinar on April 24 to discuss the NCUA Office of Credit Union Resource and Expansion’s priorities for…
League Hosts Regulator Roundtable in Augusta
On March 28, the League hosted a Regulator Roundtable as part of Credit Union Day in Augusta. The event, which was attended by 27 credit…
CUNA is Now Accepting Nominations for Compliance Champion Awards
Do you have a compliance champion at your credit union? Are you proud of the work your credit union is doing to achieve its compliance…
Hood, Harper Confirmed by Senate for NCUA Board
Last week, the Senate voted to confirm Rodney Hood and Todd Harper to serve on the NCUA board, giving NCUA a full three-person board for the…
Congress, Administration Must Address Data Privacy in a Meaningful Way
CUNA wrote to the House Energy and Commerce Committee in support of new federal protections regarding the use and security of data held by businesses and…
Compliance News: Checklist Consolidates Final Rules & Regs from 2018
CUNA’s 2018 Year-in-Review Checklist was released last week to consolidate resources and information available on the finalized rules and regulations that occurred during calendar year…
Pot Banking Goes to Washington: 3 Takeaways
With legal hurdles for financial institutions to serve marijuana businesses under the spotlight in Congress, two things are clear: Members of both parties want to…
Wipfli/Macpage Offers List of Recommendations to Comply with NCUA Priorities
NCUA recently published its annual list of supervisory priorities for the upcoming exam cycle, and to help their clients prepare with these priorities, Wipfli/Macpage developed a checklist…
CFPB Increases 2019 Asset-Size Thresholds for HMDA Reporting & Small Creditor Status
The CFPB announced increases to the maximum asset-size of credit unions exempt from collecting Home Mortgage Disclosure Act (Regulation C) data in 2019. It also raised…
New Business Mileage Rate for 2019
The Internal Revenue Service has raised the business mileage rate to 58 cents per mile effective January 1, 2019.
Legislation Will Address Multiple-Party Account Opening Procedures
Last year, the Maine Legislature enacted legislation (LD 968) that changes how financial institutions open multiple-party accounts. Recognizing that our members need additional time to comply…
League and Synergent Leading Efforts to Help Credit Unions Comply with New State Regulation
Earlier this year, the Maine Legislature passed LD 968, which makes changes to the state’s banking code. The changes will impact credit union operations as they…
Compliance: Reg. CC Rule Includes Presumption of Alteration
The Federal Reserve has published a final rule amending subpart C of Regulation CC (Availability of Funds and Collection of Checks) to address check alteration…
New Federal Law Allows Consumers to Place Free Credit Freezes and Year-Long Fraud Alerts
Consumers who are concerned about identity theft or data breaches can now freeze their credit and place one-year fraud alerts for free. The new law also…