Regulation E – Overdrafts and EFT:  The Federal Reserve has issued new rules for Regulation E, giving consumers the right to limit overdraft costs associated with ATM and one-time debit card transactions. Credit unions must comply with the new rules by July 1, 2010, even if you do not have a formal overdraft protection program. Gain an understanding of the opt-in requirements, exceptions, covered transactions, and more including:

           Content and format of disclosure notices
           Fees imposed and limits on fees charged
           Options for alternative plans for covering overdrafts
           Permitted modifications and additional content
           Joint relationships

S.A.F.E. Act Real Estate Lending Update:   The regulatory environment for all real estate lending is changing in response to several issues that were uncovered during the recent real estate market meltdown. In June, 2009, NCUA and other federal agencies issued the Interagency Proposed Rule to Implement S.A.F.E. Act Mortgage Loan Originator Registration Requirements.

Although the final regulations have not been determined, compliance experts indicate that NCUA will decide that registration applies to all credit union staff who perform more than routine clerical tasks. Thus, it could apply to everyone in the credit union who discusses rates, terms, loan programs and the like, which could mean member service representatives, tellers, call center staff, branch staff and others. Learn the latest information to be prepared for this pending regulation.

General Compliance Update:  Andrea invites you to bring your questions and concerns on other compliance issues. She will provide an update on key regulations affecting credit unions this year.

Speaker: Andrea Stritzke. Read bio here.