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 edition: 

Call Report 5300 Form Updated Instructions Available
With another round of Call Reports due on July 30, credit unions are preparing to complete the Form 5300 for submission to the NCUA. For credit unions seeking guidance and resources as they begin this process, the NCUA’s Call Report Forms and Instructions Archive provides helpful tools.

CFPB Credit Card Late Fee (Advance Notice of Proposed Rulemaking)
On June 22, the Consumer Financial Protection Bureau (CFPB) issued an Advance Notice of Proposed Rulemaking (ANPR) requesting information from credit card issuers, consumer groups, and the public regarding credit card late fees and card issuers’ revenue and expenses.

Banking Independent ATM Owners or Operators: A Risk-based Approach
FinCEN released a statement in June clarifying the risk of ATM owners and operators suggesting that not all present high risks and that nothing prohibits financial institutions (FIs) from opening accounts for these individuals.

Compliance Hot Topics 2nd Quarter 2022
ViClarity is proud to serve credit unions nationwide by providing regulatory compliance guidance. During quarter one of 2022, our compliance officers saw a high volume of topics trending within our League Services Compliance Hotlines.

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