Author name: America's Credit Unions

This week, Congress is back in Washington with America’s Credit Unions engaging lawmakers on various industry priorities. That includes an America’s Credit Unions member testifying on behalf of the industry before the House Financial Services Committee.   Elizabeth Osborne, COO of Great Lakes Credit Union in Bannockburn, Ill., will provide the credit union perspective on …

This week: Credit union COO testifying on behalf of America’s Credit Unions  Read More »

The NCUA and other federal financial regulators requested comment on a proposal to update requirements for supervised institutions to establish, implement, and maintain effective, risk-based, and reasonably designed anti-money laundering and countering the financing of terrorism (AML/CFT) programs.   The amendments are intended to align with changes concurrently proposed by the Financial Crimes Enforcement Network (FinCEN), …

Agencies request comment on updated AML/CFT requirements   Read More »

The House Financial Services Committee released the staff report from its Bipartisan Working Group on artificial intelligence (AI) Thursday. America’s Credit Unions and its members participated in the working group.  A committee hearing on AI and financial services is scheduled for Tuesday and an America’s Credit Unions member credit union will testify. The report responds …

Committee AI report echoes America’s Credit Unions position Read More »

The NCUA, CFPB, and other federal regulatory agencies issued final guidance addressing reconsiderations of value (ROVs) for residential real estate transactions advising on policies and procedures financial institutions may implement to allow consumers to provide financial institutions with information that may not have been considered during an appraisal. ROVs are requests from a financial institution …

Federal agencies release final guidance on real estate ROVs Read More »

The first Annual General Meeting of America’s Credit Unions will be held Monday, July 22 in conjunction with the World Credit Union Conference in Boston. It will take place in Room 160 of the Boston Convention Exhibition Center from 10:45 to 11:15 a.m. The meeting will provide an update to member credit unions and Leagues …

Reminder: First America’s Credit Unions Annual General Meeting scheduled for Monday at WCUC Read More »

NCUA and other federal financial regulators issued a final rule Wednesday implementing quality control standards for automated valuation models (AVMs). The final rule requires institutions that engage in certain transactions secured by a consumer’s principal dwelling adopt policies, practices, procedures, and control systems designed to: America’s Credit Unions’ Compliance Team analyzed the rule in a …

Agencies issue final rule on AVM quality control standards Read More »