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Regulatory Requirements Credit Unions Banking Sector

Husch Blackwell LLP

New Exemption Order Creates More Flexibility and More Considerations with the Customer Identification Program Rule

Husch Blackwell LLP on

By an exemption order dated June 27, 2025, federal prudential regulators have given banks and credit unions some welcomed flexibility when collecting an individual’s or entity’s taxpayer identification number (TIN) during...more

Holland & Knight LLP

Georgia Governor Updates Legislation Impacting Banking and Financial Services Industries

Holland & Knight LLP on

Georgia Gov. Brian Kemp recently signed legislation that will impact the banking and financial services industries in the state. It becomes effective July 1, 2025. The Georgia General Assembly adjourned the 2025 legislative...more

Orrick, Herrington & Sutcliffe LLP

Georgia amends banking and finance laws with new act

On May 14, the Georgia General Assembly passed HB 15 revising various banking and finance provisions. The bill revises procedures for incorporators of credit unions. It also addressed licensure requirements for money...more

Sheppard Mullin Richter & Hampton LLP

Fourth Circuit Rejects Rehearing in ACH Fraud Suit Alleging Violations of KYC Rules and NACHA Operating Standards

On April 22, the Fourth Circuit declined to reconsider a panel ruling that found a credit union could not be held liable for a scam in which fraudsters diverted over $560,000 from a metal fabricator through unauthorized ACH...more

Orrick, Herrington & Sutcliffe LLP

Trump signs executive order to reduce the federal bureaucracy, eliminates community bank and credit union advisory committees

On February 19, President Trump issued an executive order to significantly reduce the federal bureaucracy’s size, following the administration’s policies to minimize government waste, reduce inflation, and encourage...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

Goodwin on

In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

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