At the 2019 American Institute of Certified Public Accountants Annual Credit Union Conference, Tim Segerson, the Deputy Director in the Office of Examination and Insurance at the National Credit Union Administration (NCUA), presented a session on NCUA priorities and emerging issues. He said the NCUA will be focusing on the following compliance risk areas in 2020:

  • Fair Credit Reporting Act
  • Late fee practices
  • Regulation E disclosures and error resolution
  • Regulation Z APR
    • Closed-end, non-mortgage loans
    • Small dollar lending

Segerson indicated this list is not final and more compliance risk areas could be added in the next few months.

Author

John Zasada, JD, CAMS – Compliance Consulting Director, Financial Institutions Group. John can be reached at zasada@doeren.com.