The latest America’s Credit Unions’ Compliance Blog posts cover NCUA’s latest Letter to Credit Unions, how to navigate potential updates to the Treasury Check Verification System (TCVS), and advice on breaking ties in credit union board of directors’ elections.

“NCUA Letter to Credit Unions 24-CU-03 Overdraft and Non-Sufficient Funds Fee Practices” outlines what constitutes consumer harm stemming from certain overdraft and non-sufficient funds fee practices.

America’s Credit Unions expressed concerns that the letter is an attempt by NCUA to push credit unions out of providing overdraft services.

Other recent entries include:

• “A Gift (for the Fraud Prevention Toolbox)” provides guidance on how to utilize a new feature to verify the payee information on U.S. Treasury Checks and how to access this feature through the TCVS Application Programming Interface (API).
• "Tie Breakers: BOD Elections” looks at the process of tie-breaking for federal credit unions’ board of directors’ elections referencing Article V of the model bylaws and an opinion letter from the NCUA.

The Compliance Team provides new blog entries every Tuesday and Thursday. Subscribe to receive email updates from the Compliance Blog.