ViClarity Compliance Update

CFPB and NCUA developments; FinCEN guidance; upcoming AI-focused training; and ViClarity compliance resources.

CFPB Releases Statement on Updates to ATR Requirements
The Consumer Financial Protection Bureau (CFPB) has issued a statement regarding the Ability to Repay (ATR) rules found within Reg Z. The statement is meant to address the requirement by President Trump, as contained within the Executive Order: Restoring Integrity to America’s Financial System, for the CFPB to consider the requirements of ATR rules and how they may be applied to those of uncertain immigration status seeking to obtain credit. Read more here.
  
NCUA Proposes Rolling Back Limits on Indirect Auto Loan Servicing
A new National Credit Union Administration (NCUA) proposal could significantly expand flexibility for credit unions involved in indirect auto lending. As part of its eighth round of deregulation proposals, the agency is seeking to eliminate long-standing limits on federally insured credit unions’ ability to purchase or participate in indirect vehicle loans serviced by third parties, shifting more decision-making authority from the regulator to the credit union boardroom. Learn more here.
 
Joint Advisory Issued for Enhanced Customer Due Diligence Procedures for ITIN Holders
The Financial Crimes Enforcement Network (FinCEN), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA), have published a joint advisory addressing President Trump’s Executive Order Protecting the American People Against Invasion. The advisory was issued in coordination with the Internal Revenue Service (IRS) and requires that financial institutions, including credit unions, remain “vigilant against fraud schemes and other suspicious or potentially criminal activities involving the unlawful employment of illegal aliens and the associated risks to the integrity of the U.S. financial system.” Read more here.
 
Q2 2026 Town Hall Webinar: Putting AI to Work Without Losing Oversight
June 24, 2026 |1 p.m. CT
Join ViClarity Compliance Specialist Tyler Draffan for a high-level overview of practical AI applications, including AI as a ‘first line of defense’ in fraud prevention, as a time-saving underwriting tool, and as a facilitator of better human service to members. We’ll explore how credit unions can use AI effectively while keeping people responsible for review, judgment, and decision-making.  Register here.
 
Recent Q&A: June 2026 – Part 1: Ensuring Due Diligence with Automated Systems

​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 George McDonald.