Compliance

Federal regulators propose to overhaul CAMELS rating system

COMMENT CALL:  The Federal Financial Institutions Examination Council (FFIEC) – which is made up of five federal financial regulators, including the NCUA – has proposed to overhaul what is commonly known as the CAMELS rating system. One nationally recognized law firm called this, “the most significant overhaul of the CAMELS supervisory rating system in nearly 30 years, signaling a major philosophical shift in bank supervision.”

Help The League support NCUA preemption rule against state interchange fee laws

COMMENT CALL:  The NCUA has published an Interim Final Rule to clarify the power of federal credit unions (FCUs) to charge non-interest charges and fees, including interchange fees, on credit and debit card transactions, under the Federal Credit Union Act. The rule is intended to preempt any state law affecting such charges and fees, including the Illinois Interchange Fee Prohibition Act (IFPA).

FinCEN promotes 314(b) sharing with new fact sheet

NEWS: We all know too well that fraud schemes quickly work their way through local institutions. Real-time and proactive communication would help mitigate losses and, hopefully, prevent these schemes from spreading.

On June 12, 2026, FinCEN issued guidance to clarify how financial institutions can share information about suspected fraud under section 314(b) of the USA PATRIOT Act. Section 314(b) lets financial institutions share information with one another, under a safe harbor that offers protections from liability, to improve the identification and reporting of activities that may involve money laundering or terrorist activities.

NCUA eases record preservation rules for disaster planning

NEWS:  The National Credit Union Administration (NCUA) issued a final rule revising record preservation requirements for credit unions in the event of a catastrophic act.  NCUA Chairman Kyle Hauptman commented on the rule saying, "This final rule will ease unnecessary and overly prescriptive preservation requirements, while ensuring that credit unions retain the critical documents needed in instances of disaster."  As you may recall, The League submitted a comment letter urging NCUA to do all it can to update and modernize its record retention guidance.