Compliance Update with Amy K
by Amy Kleinschmit
Chief Compliance Officer
4/11/2019

NCUA.

The National Credit Union Administration’s Office of Credit Union Resources and Expansion will be hosting a free webinar on April 24 regarding what it has planned for 2019. The webinar is appropriately named, “What’s Happening in CURE for 2019.” Register for this webinar here.

Martha Ninichuk and Jean Marie Komyathy, Director and Deputy Director of the Office of Credit Union Resources and Expansion, will discuss topics including:

  • Programs and initiatives for Minority Depository Institutions;
  • The credit union chartering process;
  • The upcoming grant round for low-income credit unions;
  • CURE’s training programs schedule; and
  • New upgrades for the agency’s Learning Management Service.

This webinar will be closed captioned and archived online approximately three weeks following the live event.

HDMA.

The Consumer Financial Protection Bureau (CFPB recently announced the release of the HMDA modified Loan Application Registers are now available online. The 2018 HMDA Modified LARs are available here and include data for approximately 5,400 financial institutions.

EIN.

The Internal Revenue Service (IRS) recently announced new processes for the EIN application process that will start May 13. Under the enhanced security process only individuals with tax identification numbers may request Employer Identification Number (EIN), which will prohibit entities from using their own EINs to obtain additional EINs.

Individuals named as responsible party must have either a Social Security number (SSN) or an individual taxpayer identification number (ITIN). Generally, the responsible party is the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity. 

 

As always, CUAD members may contact Amy Kleinschmit with any compliance related questions.

 

 

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