MADISON, Wis. (8/11/10)--Updated regulations could affect credit union boards and supervisory committees, so the Credit Union National Association encourages credit unions to obtain the latest updates in two new handbooks. The Credit Union Supervisory Committee Handbook, fourth edition, gives committee members information about a typical supervisory committee profile. The edition describes supervisory committee relationships with members, directors, other committee members, management and staff, external and internal auditors, and regulatory agencies. It also discusses:
* Qualifications; * Makeup of the committee; * Duties and responsibilities; * Legal considerations; * Insurance protection; and * Conflicts of interest.
The Directors Handbook for Credit Union Regulations, third edition, contains the recent changes to the National Credit Union Administration (NCUA) Rules and Regulations and includes a new appendix about NCUA auditing guidance. The edition has new information on:
* The increase in the National Credit Union Share Insurance Fund insurance limit; * Trust account beneficiaries and share insurance coverage; * Real Estate Lending Regulations, including Real Estate Settlement Practices Act and Home Mortgage Disclosure Act; * Regulation Z changes; * Credit Card Accountability, Responsibility and Disclosures Card Act; * Fair and Accurate Credit Transaction Act and Fair Credit Reporting Act; * An updated list of activities in which credit union service organizations can engage.
For more information, use the links.