One of the benefits of your credit union's League membership is access to InfoSight--a valuable online compliance resource. This newsletter contains some timely highlights, and access to InfoSight is a benefit of League affiliation, so it is password-protected. If you have a specific compliance issue or concern, contact our Consulting Department at (800) 285-5300. Replies to this email will be directed to SVP, League Services & Regulatory Analysis Joe Guilfoy .
InfoSight Highlight
New Information: Representative Payees
Additional information and a new link were added to the  Representative Payees   topic regarding changes that become effective next month. The Social Security Administration will be conducting background checks on new and existing representative payees. Individuals with certain felonies under State and Federal law will not be permitted to serve as a representative payee. Although we don’t yet have clarity on how this change may impact credit unions, we believe awareness is important and InfoSight has been updated accordingly. We’ve contacted the Social Security Administration for more operational information. Check out the article in the “Compliance News” section for additional information.

Please review this information in the Accounts channel so you’re up-to-date on this information!
Compliance Videos
Compliance Connection Video
In this video , League InfoSight CEO Glory LeDu talks about the highlights from the 4 th Quarter of 2018 and the 1 st Quarter of 2019.

When S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act, passed in 2018 there was a lot to understand! Glory LeDu, League InfoSight CEO, provides Part 1 in this short video to break it down for you.

Just a reminder that Compliance videos since 2016 can be found on YouTube at the Compliance Connection channel , where they are generally updated quarterly.
Compliance News
SSA Amends Rules on Rep Payee Approval
The Social Security Administration has published at  84 FR 4323  in today's  Federal Register  a final rule on conducting background checks to prohibit persons convicted of certain crimes from serving as representative payees under the Social Security Act, as required by the Strengthening Protections for Social Security Beneficiaries Act of 2018. The rule will be effective March 18, 2019.

Source: Social Security Administration
CFPB Issues Reference Tool for 2019 HMDA Data Collection
On January 31, 2019, the Consumer Financial Protection Bureau issued the 2019 edition of the  Reportable HMDA Data: A Regulatory and Reporting Overview Reference Chart . The chart is a reference tool for credit unions and includes information on data points required to be collected and recorded in 2019, and reported to the CFPB in 2020 under the Home Mortgage Disclosure Act, as implemented by Regulation C.

The 2019 edition of the chart includes the revisions incorporated in the 2019  Filing Instructions Guide , along with changes from Section 104(a) of the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act.


You can find additional information about HMDA reporting requirements on the NCUA’s  Consumer Compliance Regulatory Resources page . If you have questions about this information, please contact the NCUA’s Office of Consumer Financial Protection at (703) 518-1140 or by email at  ComplianceMail@ncua.gov . You can also contact your NCUA regional office or your state supervisory authority.

Source: NCUA
Advertising rules have failed to evolve as quickly as technology.
While social media opens many doors, it can also raise serious compliance hurdles.

In this episode of the CUNA News Podcast , Kristen Tatlock, senior compliance manager for Credit Union Service Network, looks at common mistakes credit unions make when using social media, how social media risks are evolving, and some social media do’s and don’ts.

“Not only will credit unions need to understand the rules and regulations for advertising their products and services via social media,” Tatlock says, “they have to be aware of the specific rules, regulations, and terms of service that each platform has.”

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Google Play, and Stitcher Radio.

Source: CUNA
Other Articles of Interest
Source: CUNA
Advocacy Highlight
Keeping up with CUNA Advocacy
To stay abreast of the issues on which CUNA has provided input to lawmakers and regulators, here is a list of those topics .
 
CUNA Advocacy Update
The CUNA Advocacy Update is published at the beginning of every week and keeps you on top of the most important changes in Washington for credit unions--and what CUNA is doing to monitor, analyze, and influence government agencies and federal law. To receive this update, click on “Get CUNA Updates” on the CUNA Advocacy page . Additional Advocacy efforts may also be found under CUNA’s Removing Barriers blog . With the recent updates to CUNA’s website, Advocacy information has also changed. To view recent advocacy issues and see ways your credit union can become involved, visit the Priorities or Actions pages.
Weekly Regulatory Advocacy Report
The Weekly Advocacy Report provides links to information about a number of recent League, CUNA and NCUA regulatory and advocacy activities. 
   
Upcoming Education Sessions
The League has several education sessions coming up. Several focus on compliance issues. They are listed in calendar format on the League website.
   
League Consulting Department Staff
(800) 285-5300
Compliance Calendar
There's more available from InfoSight
InfoSight content is available from the League's website . Visit anytime to get sample policies, links to federal regulations and summaries of issues that are hot-topics at your credit union. 
 
Access to InfoSight is a benefit of League affiliation, so it is password-protected. If you don't have a password or if you have forgotten yours, click on the tan "Log In" button in upper right corner of the site; a box will open. Click on the blue wording to get your password.