NASCUS hosting Annual State System Summit this week in Coeur D’Alene, Idaho
COEUR D’ALENE, ID (September 19, 2013) — This week in Coeur D’Alene, ID, the state credit union system’s leaders, state and federal regulators and dual chartering supporters join NASCUS for its annual State System Summit.
“This year’s NASCUS State System Summit agenda features the credit union system’s top regulators, leaders and innovative thinkers,” said NASCUS President and CEO Mary Martha Fortney. “The discussions at our Summit focus on how regulators and credit unions can continue to operate and to thrive in this increasingly complex economic environment. This week’s meeting is already rich with dialogue and ideas on how regulators and credit unions can work together to preserve safety and soundness and promote innovation.”
Yesterday at the Summit attendees heard from Debbie Matz, NCUA Chairman. Chairman Matz discussed NCUA’s priorities for the next year and announced that agency’s Office of National Examinations and Supervision is drafting a proposed rule to require annual stress tests at credit unions with assets exceeding $10 billion.
Jeff Post, President and CEO of CUNA Mutual discussed Fraud in Credit Unions. Post discussed the five most serious fraud risks CUNA Mutual Group has identified facing credit unions and offered loss prevention recommendations. The five risks relate to employee dishonesty, funds transfer, plastic cards, data breaches and electronic crime.“Perhaps the biggest takeaway from this session is there is no single fraud loss area,” Post said. “Criminals seem to continually devise new ways to steal or defraud.”
The general session closed with a panel titled “Working Together on System Priorities: The Credit Union Leadership Forum” and included Dan Berger, NAFCU President and CEO, CUNA President Bill Cheney and NASCUS President and CEO Mary Martha Fortney. Moderated by Defense Credit Union Council President and CEO Arty Arteaga, the panelists discussed their organization’s priorities. CUNA and NAFCU explained maintaining credit union tax exemption is among their groups priorities this year. NASCUS discussed the priority of keeping the state charter strong.
Today’s sessions feature the annual Interagency Dialogue between state regulators and NCUA as well a session on the “Future of Regulatory Capital.” To learn more about this week’s Summit visit www.nascus.org.