ViClarity Compliance Update

NCUA Publishes Supervisory Priorities for 2025; CFPB Finalizes Medical Debt Rule; FinCen Alert of Fraud Scam

The Dakota Credit Union Association’s dues-supported compliance solution –  ViClarity – is a world leader in credit union compliance. To read the complete articles/answers that are linked, you will need to log in with your username and password. If you have questions about establishing your members-only account with ViClarity, click here for detailed instructions or contact DakCU's John Alexander.

NCUA Publishes Supervisory Priorities for 2025
The National Credit Union Administration (NCUA) has published its supervisory priorities for 2025. In a Letter to Credit Unions, the NCUA noted that its priorities focus on areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund. More on the topic here.

CFPB Finalizes Medical Debt Rule
The Consumer Financial Protection Bureau (CFPB) has finalized a rule prohibiting financial institutions from using medical debt in credit eligibility decisions. The rule was originally proposed in June 2024. The final rule was published on January 7, 2025. Full details can be found here.

FinCEN Publishes Alert of Fraud Scam Using FinCEN’s Name
The Financial Crimes Enforcement Network (FinCEN) has issued an alert to raise awareness of fraud schemes using FinCEN’s name, insignia, and authorities for financial gain. Specifically, the FinCEN-specific fraud schemes include scams that exploit beneficial ownership information reporting; misuse FinCEN’s Money Services Business Registration tool; or involve the impersonation of, or misrepresent affiliation with, FinCEN and its employees. Read on now.

CFPB Recognizes FDX as Standard Setting Body for Personal Financial Data Rights Rule
The Consumer Financial Protection Bureau (CFPB) has issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body for the CFPB’s Personal Financial Data Rights rule. The recognition of FDX is the first to be issued under the rule. Read the full article here.