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 .
Compliance Videos
Compliance Connection Video - NEW 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
Bureau adjusts CMPs for inflation
The Consumer Financial Protection Bureau has posted an  announcement of a Final Rule  adjusting for inflation the maximum amount of each civil penalty within the Bureau’s jurisdiction. The inflation adjustments mandated by the Inflation Adjustment Act serve to maintain the deterrent effect of civil penalties and to promote compliance with the law. The  Final Rule  will be effective on publication in the  Federal Register . They represent a 2.522 percent increase over the limits published for 2018. The Bureau's CMP limits are found in its "Civil Penalty Adjustments" regulation at 12 CFR Part 1083.
Other Helpful Links:
Advocacy Highlight
Comments Requested for Funds Availability/Regulation CC
By February 8, 2019, comments must be submitted regarding the proposed rule for the Availability of Funds and Collection of Checks (Regulation CC). The new proposal requests a change in dollar amounts including:
  • Minimum Amount: the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits;
  • Cash Withdrawal Amount: the amount a bank must make available when using the EFA Act’s permissive adjustment to the funds-availability rules for withdrawals by cash or other means;
  • New-Account Amount: the amount of funds deposited by certain checks in a new account that are subject to next-day availability;
  • Large-Deposit Threshold: the threshold for using an exception to the funds-availability schedules when the aggregate amount of checks on any one banking day exceed the threshold amount;
  • Repeatedly Overdrawn Threshold: the threshold for determining whether an account has been repeatedly overdrawn; and
  • Civil Liability Amounts: the civil penalties allowed for failing to comply with the EFA Act’s requirements.
 
For additional information:
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
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.