The latest 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 Leagues member-only password.

Inside this newsletter edition:

Register for ViClarity's Q2 Town Hall - June 9, 2022
Join the ViClarity team as they go over the "Ability to Repay and Qualified Mortgage" rule: what changed with the new rule, when the mandatory compliance date lands, and the different ways in which this could apply to your credit union.

Compliance Hot Topics 1st Quarter 2022
ViClarity saw a high volume of topics trending within its League Support Hotline Services.

CFPB Addresses Unfair Discrimination in Consumer Finance
On March 16, 2022, the Consumer Financial Protection Bureau announced changes to its supervisory operations in order to address discriminatory situations that may not be covered within lending laws and regulations.

Credit Union Governance Modernization Act
Credit Union Governance Modernization Act updates the Federal Credit Union Act’s provisions for expulsion of members.

Adjustable Interest Rate (LIBOR) Act
On March 15, the Adjustable Interest Rate (LIBOR) Act, was signed into law by President Biden as part of an omnibus spending bill.

NCUA Letter to Credit Unions: NCUA Definition of Service Facility Final Rule
On March 22, 2022, the National Credit Union Administration issued a letter to credit unions regarding the amendment of the definition of “service facility” for multiple common-bond federal credit unions, which originally became effective in December of 2021.

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