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
Resources found in InfoSight
What are some resources that are available for everyone in InfoSight?
  • Easy-to-read compliance summaries give a general overview of the topic and typically includes a definition as well as how the topic affects credit unions.
  • Some topics provide a Detailed Analysis which dives deeper into the topic, providing more background and details. The Sub-Prime Lending topic has a good example of this!​
  • Many checklists have been provided as quick references to help with compliance and are compiled on the Checklist list.
Login to InfoSight today to take advantage of these great resources!
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
FinCEN replaces Part 561 List with CAPTA List
OFAC has  posted an announcement  that it is replacing its List of Foreign Financial Institutions Subject to Part 561 with the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”).
 
Source: OFAC
Bureau highlights bill-pay disclosure problems
In its latest  Supervisory Highlights , the CFPB discussed findings that one or more of the institutions it examined deceptively represented that payments made through an institution’s online bill-pay service would be debited on the date selected by the consumer or a few days after the selected date, while failing to disclose or failing to disclose adequately that, in instances where a payee accepts only a paper check, the debit may occur earlier than the selected date. Several other findings are also included in the Supervisory Highlights that may be of interest.
 
Source: CFPB
Advocacy Highlight
Ohio Court Dismisses ADA Suit
In another litigation victory for credit unions, the U.S. District Court for the Southern District of Ohio dismissed a lawsuit filed against a federally-chartered credit union based in Dublin, Ohio. The lawsuit alleged the credit union’s website violated the Americans with Disabilities Act (ADA). 

CUNA and the Ohio Credit Union League filed an amicus brief in support of the credit union’s motion to dismiss.
Setting the Record Straight on Elizabeth Warren’s New Bill
Recently, a lot of questions have been raised in the press about whether Senator Elizabeth Warren’s new American Housing Economic Mobility Act of 2019 would increase credit unions’ regulatory burdens—despite removing them from an obligation to comply with the Community Reinvestment Act. Another trade association has specifically claimed that the bill adds new reporting, comment, and hearing requirements that do not presently exist and that they, presumably, oppose.   Additional information and a comparison chart may provide more insight.

Source: CUNA Removing Barriers Blog
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.