Author name: Judy Dahn

Spring 2024 Supervisory Highlights: Consumer Reporting Companies and Furnishers

Compliance / / / 4 minutes of reading

The Consumer Financial Protection Bureau (CFPB) recently released its Supervisory Highlights covering consumer reporting companies and furnishers. The CFPB emphasized that inaccuracies in the credit reporting system have been a long-standing issue and as such will be prioritized in examinations of consumer reporting companies (CRCs) and furnishers, such as credit unions. This compliance blog will …

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FinCEN Publishes an Administrative Ruling Regarding Customer Identification Program and Customer Due Diligence Requirements for Designated Beneficiaries of Individual Retirement Accounts

Compliance / / 3 minutes of reading

Last week was the 2024 Regulatory Compliance School for America’s Credit Unions. It was my first time attending in person and presenting. I have to say it was spectacular. I was able to speak with so many compliance professionals and hear other presentations as well. It was a great time, and I want to say …

FinCEN Publishes an Administrative Ruling Regarding Customer Identification Program and Customer Due Diligence Requirements for Designated Beneficiaries of Individual Retirement Accounts Read More »

FFIEC Issues Statement on Examination Principles Related to Valuation Discrimination and Bias in Residential Lending

Compliance / / 4 minutes of reading

On February 12, 2024, the Federal Financial Institutions Examination Council (FFIEC) issued a statement of principles related to residential property appraisal and valuation practices for member entities to consider in their consumer compliance and safety and soundness examinations. The principles are intended to aid member entities in assessing whether supervised institutions’ compliance management systems and …

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