Risk Based Pricing Notices on Business Purpose Loans Question: Are risk-based pricing notices (RBPN) required on business purpose loans? Answer: No. RBPN’s are on required “in connection with an application
What does NCUA going to CAMELS mean? Effective in April of this year, NCUA will switch its exam framework from CAMEL to CAMELS. This means that interest rate risk sensitivity
Providing Mortgage Disclosures on a Denial Q. Good morning Heather, I feel like this is a silly question – but I want to clarify it. If we receive a mortgage application
Lending to minors Q. Can we do loans for people under 18? I have never heard of it but apparently the credit union has made loans for members under 18 in
Overdraft Opt-In for Recurring Debit Card Transactions Q. Heather, What does Reg E say regarding recurring debit card transactions? We have a member that opted out of overdraft coverage, but our
Got BSA Training? We understand mandatory Bank Secrecy Act (BSA) training can get old, stale, annoying, difficult, etc. To that end, the Utah Credit Union Association would like to introduce
Compliance training Some of you may already know that we are conducting our annual compliance training series a bit differently this year. While making plans for 2022, Liz White (our
Holiday counting and Reg Z Federal Holidays that fall on a weekend (like Christmas and New Year’s Day do this year) always bring up questions with how financial institutions count
Overdraft programs present big risks for credit unions Overdraft fee programs are shaping up to be a top risk for credit unions during 2022. Any credit union that maintains an
