Data breaches and cybersecurity incidents happen every day, and credit unions need to be considering what to do when – not if – they are attacked. Please click here to read more. This article is from the October 19, 2016 issue of Credit Union Times Magazine. [Subscription may be required]. Jennifer Winston is an Associate […]
Please click here to read more. [Subscription may be required]. Amanda Smith, Partner with Messick and Lauer P.C., is quoted in this article written by Palash R. Ghosh, which was originally published in the Credit Union Journal on October 13, 2016.
The insurance industry presents a unique opportunity for credit unions to grow strategically. Insurance is not only a way to add value for members, but also presents a source of non-interest income. Chances are your members have some type of insurance, whether its healthcare, auto, property, or life and if they’re not getting these services […]
CUSO 101 from Messick & Lauer on Vimeo.
Cybersecurity and Data Breaches – How to Prepare, Protect, and Respond from Messick & Lauer on Vimeo.
The Military Lending Act (MLA) has traditionally applied to three (3) types of loan products: payday loans, vehicle title loans, and refund anticipation loans. Under the Final Rule, beginning October 3, 2016, the MLA will apply to products generally covered by the Truth in Lending Act and Regulation Z, including deposit advance loans, installment loans, […]
The Department of Labor (“DOL”) has released its final rule that is intended to provide stronger overtime protection and clarity to both workers and employers. Read the Final Rule here. This general summary email is the first in a series our office will publish on the new overtime rule. To determine if a white collar […]
On June 14, Jack Antonini, NACUSO President and Guy Messick, NACUSO General Counsel met with NCUA Staff on the results of the CUSO Registry and the thinking on how CUSO Reviews will be handled. The CUSO Registry sign-up period and the follow-up by NCUA found there were approximately 900 CUSOs. NCUA believes that there are […]
As a follow up to correspondence sent out a couple of weeks ago regarding the elimination of the personal guarantee requirement under the new MBL rule, we received feedback that this is not the case for federally insured state-chartered credit unions in Illinois. Illinois state-chartered credit unions must still obtain personal guarantees on all MBLs. […]
Under the new NCUA MBL regulation, the personal guarantee requirement was set to be eliminated sixty (60) days after the final rule’s publication in the Federal Register. May 13 was the 60th day. For once Friday the 13th is a lucky day. Credit unions are now permitted to evaluate a particular member business loan’s risk […]