The League Site
Regulatory Calendar 2012
January

01 - FRB’s annual adjustment of Reg. Z thresholds triggering HOEPA disclosures and restrictions on high-cost/high-fee mortgage loans, to apply when total points and fees on a loan exceed $611 or 8 percent of the loan amount, whichever is greater.Restricted
See ii Release B062.


01 - Mandatory dividend rate for required real estate escrow accounts is set at 0.26% for 2012.Restricted
See ii Release B014.


01 - Reg. Z thresholds triggering HOEPA disclosures and restrictions on high-cost/high-fee mortgage loans, to apply when total points and fees on a loan exceed $611 or 8 percent of the loan amount, whichever is greater.Restricted
See ii Release B062.


01 - Truth in Lending (Reg. Z) and Consumer Lending (Reg. M) coverage increases to apply to loans with amount financed of $51,800 or less.Restricted


March

15 - ATM accessibility rules changing under ADA.Restricted


26 - Deadline for CUs to seek exemption from electronically filed (e-file) BSA reports – such as Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs).Restricted


April

01 - Reg. E Debit Card Interchange Network exclusivity and routing requirements.Restricted


July

01 - Non-individual lien holders are required to electronically process lien add and lien release transactions for Wisconsin customers. Some transactions will be exempted by departmental rule.Restricted


02 - NCUA’s new TDR rule (NCUA Rules and Regs. Part 741 App. C) requires credit unions to calculate the past due status of workout loans consistent with loan contract terms, including amendments made through formal restructures.Restricted
See ii Release B072.


30 - Wisconsin becomes a “title to lien holder” state. Any title with a lien will be sent to the lien holder rather than the owner. NEW DATERestricted


30 - Wisconsin becomes an “electronic title” state. When a lien is listed against a vehicle, lien holders are encouraged to receive titles electronically via electronic service provider. NEW DATERestricted


September

30 - NCUA requires Interest Rate Risk Management policy and program.Restricted
The rule applies to credit unions with:

  • assets of more than $50 million, or
  • assets of $10 million or more but not greater than $50 million, if the total of first mortgage loans it holds combined with total investments with maturities greater than five years, as reported by the FICU on its most recent Call Report, is equal to or greater than 100% of its net worth (i.e., a 1:1 ratio).


See ii Release 0181.


October

01 - NCUA TDR requires adoption of written policies addressing management of loan workout arrangements and nonaccrual policies for loans.Restricted
Include the discontinuance of interest accrual on loans past due by 90 days or more and requirements for returning such loans, including member business loans, to accrual status.

See ii Release Bo72.


December

15 - FASB, Accounting Standards Update No. 2011–02 (April 2011) to the FASB Accounting Standards Codification entitled, Receivables (Topic 310), ‘‘A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring.’’Restricted
This clarifies the definition of a TDR, which has the practical effect in the current economic environment to broaden loan workouts that constitute a TDR. This standard is effective for annual periods ending on or after December 15, 2012.

See See ii Release B072.


31 - Expiration of temporary unlimited NCUA share insurance coverage on noninterest-bearing transaction accounts and on corporate CU shares.Restricted


31 - NCUA requirement to collect nonaccrual status data for inclusion on Call Reports.Restricted
See ii Release B072.