IRS Proposes Regulations for Excise Tax on Executive Compensation
In June, the Internal Revenue Service (IRS) issued proposed regulations under Section 4960 of the Internal Revenue Code (Code). Section 4960 originated from the...
Modifying Loans During Hardship or Crisis
Credit unions have a long history of working to help their members during hardships or unexpected challenges, and the current situation is no different....
Alternative Data: Growth Opportunity or Fair Lending Risk?
Credit unions are committed to providing members with access to financial products and services. Whether it is banking the unbanked or reaching the credit-invisible,...
NCUA Modernizing Exams in 2020
For the past few years, NCUA has worked on various exam modernization initiatives. This includes modernizing the Call Report, improving the coordination of shared...
Compliance Risk and Compliance Culture
Compliance failures can lead to catastrophic consequences for a credit union. Regulatory violations can result in costly fines and civil penalties, which could —...
Hemp Banking and Other Developments
State legislatures around the country continue to pass a variety of legalization laws related to marijuana, hemp and other cannabis-derivative products. At the federal...
IRS Clarifies Excise Tax Reporting Rules for Federal Credit Unions
On Dec. 15, 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), which changed the tax treatment for certain compensation that a credit...
Adverse Action Notices
In its list of supervisory priorities for 2019, the National Credit Union Administration (NCUA) has included compliance with the adverse action notice requirements found...
Compassion in Action: Stopping Elder Financial Abuse
The number of compliance concerns a credit union must worry about in its day-to-day operations seems to grow continuously. One such concern that has...
Cybersecurity Exam Preparation
Once again, the National Credit Union Administration (NCUA) placed cybersecurity as a focus for exams this year. In 2019, the agency will use the...
- Advertisement -
