Posted by Anthony Demangone
I hope everyone enjoyed their long weekend. Winter appears to be loosening its grip on the Washington, D.C. area. There's nothing like the sun on one's shoulders to put a skip in your step. Of course, by just thinking that out loud, I've ensured that we'll have a terribly cold spring. Here are a few things to kick off the week.
Consumer complaints. Last week, NCUA’s Chairman Debbie Matz and senior NCUA staff held a Webinar that covered a range of timely issues. One of those concerned NCUA’s practice of handing consumer complaints. As you may know, NCUA has established a new Office of Consumer Protection, which, among other things, will handle member complaints. Previously, after receiving the complaint, NCUA would contact the credit union and ask it to reply to the member and copy NCUA. This practice has now changed. Now, after receiving a complaint, NCUA will contact the credit union (specifically, the credit union’s supervisory committee) and ask that it responds to NCUA’s office of consumer protection. This is an important change and credit unions should be aware of it.
Archives. I'm embarrassed to pass along something that I learned about NAFCU's own compliance blog. Check out this archives page, which provides archives back to the beginning of the blog, as well as links to each of the blog's categories. Here's how the conversation went.
Steve: Check out this archive page.
Anthony: That's on our blog?
That's right - nothing gets by me.
Sale of non-deposit investments. NCUA has published a legal opinion letter, which is their response to NACUSO on a number of issues related to NCUA's recent guidance on the sale of non-deposit investments.
SCRA Notice. HUD has updated its SCRA notice.
HPML. The Bankers Compliance Consulting Blog has a nice post on HPMLs and how the issue of truncating versus rounding can make a big difference.