Tick, Tock; NAFCU Final Regulations on New FACT Act Rules
Here's a reminder from the Compliance Guy. Last November, NCUA revised the âÂÂofficial signâ that "promotes" a credit unionâÂÂs insured status. There were two deadlines found within the final rule. By now, your credit union has placed the new official sign at teller stations and other required locations. (We hope.) But beware of the second deadline!
Please remember that federally-insured credit unions must replace the old official sign with the revised one by November 23, 2007 on every document that includes the official sign, such as advertisements, promotional materials, and disclosures. For more details, read NAFCUâÂÂs Final Regulation 06-EF-17, which is available here. (NAFCU members only.) For you non-NAFCUers, you can find the final rule here. (Scroll down, and look for Part 740.)
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Thanks to NAFCU's Regulatory Affairs gang who just published "Final Regulations" that provide detailed overviews of the Affiliate Marketing and Identify Theft Red Flags Rules.  NAFCU members can access them here.