The January edition of the ViClarity Newsletter is now available. ViClarity, a benefit of League membership, is an award-winning RegTech solution tailored for your Governance, Risk and Compliance (GRC) needs. Please check your email or click here to access the newsletter using your email address and your California or Nevada Credit Union League members-only password.

Inside this month's newsletter:

CA DFPI Finalizes Amendments to CA Credit Union Regulations—IMPORTANT
The California Department of Financial Protection and Innovation (DFPI) recently finalized the amendments to the California Credit Union regulations.

2021 Information Returns and Disclosures—IMPORTANT
As a member of the California Credit Union League, your credit union has access to a helpful chart outlining important dates for 2021 Information Returns and Disclosures.

NCUA Letter to Credit Unions: 2022 Supervisory Priorities
The NCUA recently released Letters to Credit Unions outlining its supervisory priorities and examination program for 2022.

Final Rule: Complex Credit Union Leverage Ratio and Risk-Based Capital
Effective Jan. 1, 2022, a new NCUA final rule providing a simplified option for measuring the capital adequacy of some credit unions will go into effect. This change is part of an NCUA effort that began in 2016 to modernize the Call Report Form 5300 process.

Knowing the Risks of Cryptocurrency
Cryptocurrency is by no means the “new kid”, in fact it has existed for more than a decade, however, there is still room for credit unions to be involved in these digital assets. As cryptocurrency rises, the regulators are encouraging credit unions work with their Board and Senior Management to know what it is and be aware of the risks involved.

Interagency Collaboration on Amplifying DEI Efforts
At the front of 2022, CUNA teamed up with the National Association of Latino Credit Unions & Professionals (NLCUP) to announce a collaborative partnership to further diversity, equity, and inclusion (DEI) within the credit union movement.

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