Proposed Debit Interchange Rule’s Effect on Credit Union Relationships with Payment Card Networks
Recent changes proposed by the Board of Governors of the Federal Reserve System (the “Board”) affecting debit interchange fees and routing of debit transactions may potentially impact credit unions’ contractual relationships with payment card networks such as Visa or MasterCard.
California SB 94 – A Useful Tool to Combat Unscrupulous Loan Modification Providers
Although not directly applicable to credit unions, and not widely publicized, SB 94 should serve as a useful tool in protecting members from unscrupulous players in the cottage “loan modification” industry.
Preventing FMLA Abuse: Why Call-In Policies Are a Good Idea
Written ''call-in'' policies can help control the potential abuse of FMLA leave in a number of ways. Does your credit union have one?
Should Your Credit Union Prepay Its Corporate Bailout Assessment?
NCUA recently announced a proposed plan to permit credit unions to voluntarily prepay their annual assessments for the corporate credit union bailout, which the agency projects to be $2.94 billion for the next two years.
CUNA Mutual’s Condition 9
Your Credit Union’s management team needs to keep Condition 9 of CUNA Mutual’s Bond in mind.
SW&M Comments on NCUA Proposed Rule on Incentive Based Compensation Arrangements
On May 31, 2011, our office responded to the NCUA's request for comments concerning the Interagency Proposed Rule on Incentive Based Compensation Arrangements.
Final Debit Interchange Rule Issued by Federal Reserve
The Federal Reserve has issued final rules on debit interchange fees, effective October 1, 2011.
Maxed Out Medical Leave: Does Your Policy Require Automatic Termination?
The EEOC has criticized leave policies that provide for automatic termination of disabled employees who request leave beyond the set periods.
California DFI Assessing Penalties for Late Audit Reports
The California Department of Financial Institutions is assessing penalties of up to $1,000 per day for delays in concluding CPA year-end audits.
California Senate Bill (“SB”) 458 Prohibits Junior Lien Holders Collecting Post-Short Sale Deficiencies
SB 458 expands the protections available to borrowers by applying to all mortgages or deeds of trust, regardless of lien position, on a dwelling of four units or less.
NCUA's Report on “Unresolved” DOR Items - What It Means for Your Credit Union
NCUA Office of Inspector General's report on the NCUA's Document of Resolution follow-up process signals increasing attention to supervisory actions.
Increase in Minimum Salary for Computer Software Employee Exemption
Recent amendment to statute increases the minimum rate of pay for exempt computer software employees.