CFPB updates Regulation E FAQs to address P2P payments and providers
Happy Friday, compliance friends! I’m coming at you today from my new office at the new house! It will take some work to get settled and make it cozy, but for now, I’m [...]
NAFCU News Archives
Six signature traits of inclusive leadership
As we celebrate Black History Month this February, we are reminded why inclusive leadership is necessary. I recently came across a report that emphasizes the importance of inclusive leadership, and teaches ways in which leaders [...]
NAFCU offers support for the inclusion of marijuana banking legislation in the America COMPETES Act
NAFCU Vice President of Legislative Affairs Brad Thaler Wednesday wrote to the House to offer support for the inclusion of the Secure and Fair Enforcement (SAFE) Banking Act as an amendment to the America COMPETES [...]
NAFCU, Trades write to FCC regarding call blocking order and notice of proposed rulemaking
NAFCU Vice President of Regulatory Affairs Ann Kossachev joined with other trade associations Monday to respond to the Federal Communications Commission’s (FCC) order allowing terminating telephone service providers (TSPs) to continue using current call [...]
NCUA issues letter to credit unions about NCUA’s automated cybersecurity evaluation toolbox
In December of 2021, the National Credit Union Administration (NCUA) issued Letter to Credits Union 21-CU-15 about NCUA's supervisory efforts to educate federally-insured credit unions on cybersecurity preparedness and how the recent release of the [...]
Banks continue to ease loan standards and terms in Q4, according to latest Fed survey
The Federal Reserve’s January senior loan officer opinion survey (SLOOS) found that over the fourth quarter, banks reported having eased standards and terms regarding C&I loans to firms of all sizes. A [...]
This week: NAFCU monitors Harper nomination, FASB meeting
NAFCU continues to monitor Congressional movement on the nomination of current NCUA Board Chairman Todd Harper to a full term on the NCUA Board. In addition, the association will keep credit unions updated as the [...]
CFPB issues request for information on excessive fees
On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) issued a statement announcing that it had launched an initiative to reduce what it calls “junk fees.” The CFPB explained that junk fees can disguise [...]
NCUA Board approves succession planning proposed rule, discusses CLF and 2022 Supervisory Priorities
The NCUA Board Thursday approved by a 2-1 vote a proposed rule requiring the board of directors of a federal credit union (FCU) to establish a process for succession planning. In addition, the NCUA staff [...]
Complex credit union leverage ratio and the MBL cap
At the beginning of the month, the National Credit Union Administration’s (NCUA) risk-based capital requirements and complex credit union leverage ratio (CCULR) went into effect. Today’s blog will discuss the effects of those [...]
The journey to self-knowledge
You may think you know yourself, until one day you realize you don’t. In life, new obstacles, opportunities, and influences taint our judgments of the outside world. As we get older, we start to [...]
Fannie Mae calls for new FEMA flood risk disclosure standard
Fannie Mae wrote to the Federal Emergency Management Agency (FEMA) earlier this month to urge the agency to set federal standards for how home sellers disclose flood risks to potential buyers. Fannie Mae noted the [...]
OSHA withdraws vaccination and testing mandate
The Department of Labor's Occupational Safety and Health Administration (OSHA) Tuesday withdrew its vaccination and testing emergency temporary standard (ETS), previously issued in November. Although OSHA has withdrawn the vaccination and testing ETS as an [...]
New Year’s resolutions Part 3: NCUA
Over the past few weeks we’ve blogged about the “New Year’s Resolutions” – i.e. the rulemaking agendas – of both FinCEN and the CFPB. Today we’ll round out this topic by discussing the [...]
White House expected to release digital asset strategy
The Biden Administration plans to release a government-wide strategy for digital assets, outlining digital assets’ opportunities and risks. Senior government officials have held multiple meetings to discuss the plan, which is being drafted as an [...]