CUs discuss NCUA, CFPB updates during Reg Committee meeting

NAFCU’s Regulatory Committee met Tuesday and discussed several proposals and issues open for comment, including several from the CFPB and NCUA.

In addition, the group discussed digital asset regulation and the formulation of digital assets policy priorities to protect the interests of credit unions, consumers, and the financial system, as well as the Social Security Administration’s Electronic Consent Based SSN Verification service, which was created to assist financial institutions and credit agencies in curbing synthetic ID fraud.

Items open for comment discussed during the meeting included:

• the NCUA’s interpretive ruling and policy statement regarding its Minority Depository Institution (MDI) Preservation Program;

 

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