New Compliance Blog posts address NCUA call reports, bank bribery 

America’s Credit Unions keeps credit unions informed with new posts on the Compliance Blog, published every Tuesday and Thursday.

Here’s a look at what’s new on the blog:

Call Report Deadline Looms: This post discusses changes to the NCUA’s call report that “requires credit unions with assets of $1 billion or more to report the income earned through overdraft fees and NSF fees” on their call report. The post also details the letter sent by America’s Credit Unions that requests the agency “refrain from publicly releasing the overdraft and NSF fee data.”

The Bank Bribery Act: The most recent post addresses the Bank Bribery Act and what is classified as a bribe. According to the post, a bribe of more than $1,000 is punishable by up to 30 years in prison and/or a fine of “up to $1,000,000 or three times the value (whichever is greater) of the bribe.” A bribe of $1,000 or less is “a misdemeanor, punishable by up to one year in prison and/or a similar fine.” The post highlighted an interpretive ruling and policy statement from the NCUA that urges credit unions to create policies and codes of conduct that prevent accepting things of value in connection with credit union business. 

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