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The NCUA today issued a rule finalizing the interim final rule issued in June for golden parachute and indemnification payments to institution affiliated parties.  The interim final rule made technical corrections to Part 750 of NCUA’s rules and clarified that post-employment payments pursuant to qualified 457 plans are excluded from the definition of “golden parachute payment.”  The final rule issued today adopted the interim final rule without change.  Read More.

The Jan. 1 mandatory compliance date for the National Credit Union Administration's new share insurance advertising requirements is rapidly approaching, CUNA has reminded credit unions in a recent CompBlog post.  Read More

The Consumer Financial Protection Bureau on Tuesday announced it would accept public input on how to best streamline over one dozen rules that it will soon inherit from seven federal agencies "to make it easier for banks, credit unions and others to follow the rules."  Read More

The Treasury Department's Office of Foreign Assets Control (``OFAC'') removed the name of one of individual, whose property and interests in property were blocked pursuant to Executive Order 12947 of January 25, 1995, Blocking Property and Prohibiting Transactions With Persons Who Threaten to Disrupt the Middle East Peace Process, from the list of Specially Designated Nationals and Blocked Persons (``SDN List'').  More

The Treasury Department's Office of Foreign Assets Control (``OFAC'') is removing from the list of Specially Designated Nationals and Blocked Persons (``SDN List'') the names of 42 entities that are listed pursuant to Executive Order 13566 of February 25, 2011, ``Blocking Property and Prohibiting Certain Transactions Related to Libya.''  Read More

CUNA has welcomed H.R. 3461, which would allow financial institutions to appeal examination reports from federal financial regulators and provide further clarity to those regulators, saying the bill is "recognition that Congress is taking the concerns that we and others have raised regarding examinations seriously."  Read More

The National Credit Union Administration on Thursday approved an expanded community credit union charter, and separate final rules that correct its golden parachute and indemnification rule and add remittance transfers to the list of international electronic funds transfers that may be offered by federal credit unions. Read More

A statement that explains how the total assets of an insured bank, thrift or credit union will be measured for purposes of determining supervisory and enforcement responsibilities under the Dodd-Frank Wall Street Reform and Consumer Protection Act was issued today by five federal financial supervisory agencies. Read More

Credit unions with less than $50 million in assets should be exempt from the Financial Crimes Enforcement Network's new Bank Secrecy Act electronic filing requirements, and those that that demonstrate substantial core-processing or system costs should also be allowed to waive the rules, CUNA said in a comment letter.  Read More

FinCEN released Two Guidance Documents, 2011-A014 and 2011-A015, to Financial Institutions Based on the Financial Action Task Force Public Statements on Anti-Money Laundering and Counter-Terrorist Financing Risks.  Read More