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
Board Responsibilities: Fidelity Bonds
The  Director Responsibilities topic has been updated to reflect the recent changes made by the NCUA related to fidelity bond requirements for federally insured credit unions. These requirements are located under the Board Responsibilities channel since there are new requirements for the Board to follow in the review and approval of fidelity bond insurance for the credit union.
Compliance Videos
Compliance Connection Videos
Our Compliance Connection channel provides credit unions with detailed information on the regulatory issues they face in the ever-changing world of compliance.
Compliance News
FinCEN Prohibits Iranian Correspondent Accounts
FinCEN has issued a  final rule  to prohibit the opening or maintaining of correspondent accounts in the United States for, or on behalf of, Iranian financial institutions, and the use of foreign financial institutions’ correspondent accounts at covered U.S. financial institutions to process transactions involving Iranian financial institutions. The rule will be effective 10 days after publication in the  Federal Register .

Source: FinCEN
FTC Files Case Against Stalking Apps
The FTC has  announced  it has filed a  complaint  barring the developers of three “stalking” apps from selling apps that monitor consumers’ mobile devices unless they take certain steps to ensure the apps will only be used for legitimate purposes. The settlement resolves allegations that these apps compromised the privacy and security of the consumer devices on which they were installed. Andrew Smith, Director of the Commission's Bureau of Consumer Protection, said "This is our first action against a so-called 'stalking app.' "

Source: FTC
New Strategic Plan for Fannie and Freddie
The Federal Housing Finance Agency has  released  a new  Strategic Plan  for the conservatorships of Fannie Mae and Freddie Mac and a new 2020 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions. The Strategic Plan provides a framework for how FHFA will guide Fannie Mae and Freddie Mac to fulfill their statutory missions, focus on safety and soundness, and prepare for a responsible end to the conservatorships. The Scorecard aligns the Strategic Plan with the Enterprises’ tactical priorities and operations, serving as an essential tool to hold the Enterprises accountable for the effective implementation of the Strategic Plan.
 
Source: FHFA
Advocacy Highlight
Deadline Approaching: Comment Call for CFPB Tech Sprints RFI
The CFPB is tasked with facilitating innovation in the consumer financial services market as part of its statutory mission. In fulfilling this objective, the Bureau has sought to strengthen its collaboration with stakeholders in order to develop solutions to shared problems.

The Bureau is currently exploring the use of Tech Sprints as a model for collaborative innovation. Tech Sprints gather regulators, technologists, financial institutions, and subject matter experts from key stakeholders for several days to work together to develop innovative solutions to clearly-identified challenges. These initiatives have been used by the Financial Conduct Authority (FCA) in the United Kingdom and several U.S. regulators, including the Census Bureau and Department of Health and Human Services.  Here is detailed information on this initiative and how to comment.
CUNA's Advocacy Resources
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.