Compliance Monthly Newsletter

Compliance Monthly is intended to keep you informed of regulatory changes in advance of their effective date. With current information, your institution can prepare the necessary policies, procedures, and processes and be compliant at the time of enactment.

REGULATORY COMPLIANCE CALENDAR


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March 2020 Compliance Newsletter

By Compliance Monthly Newsletter

In July 2015, the DOD issued a final rule amending its regulation implementing the Military Lending Act (MLA)  primarily for the purpose of extending the protections of the MLA to a broader range of closed-end and open-end credit products, rather than the limited credit products that had been defined as “consumer credit.” 

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January 2020 Compliance Newsletter

By Compliance Monthly Newsletter

This rule requires Originating Depository Financial Institutions (ODFIs) to identify and register their Third-Party Sender customers. The registration process promotes consistent customer due diligence among all ODFIs, and serves as a tool to support Nacha’s continuing efforts to maintain ACH Network quality. This requirement became effective on March 1, 2018.

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