Also: CECL, recent data breaches among things to know this week; Coronavirus fight gets emergency funding
NAFCU TODAY | The News You Need Daily.
March 6, 2020
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Luetkemeyer introduces NAFCU-supported CFPB commission bill [ [link removed] ]
House Financial Services Committee Member Blaine Luetkemeyer, R-Mo., Thursday introduced NAFCU-supported legislation that would reform the CFPB's governance structure from a single director to a bipartisan commission. NAFCU has consistently advocated that the bureau's leadership structure should be reformed to a commission-based model to ensure transparency and accountability.
4 things CU leaders need to know [ [link removed] ]
NAFCU's widely-read NAFCU Today is credit union leaders' go-to source for the latest on issues impacting the credit union industry. For those short on time, here's a roundup of this week's top need-to-know news bits.
Congress passes emergency coronavirus funding [ [link removed] ]
As the Centers for Disease Control and Prevention (CDC) releases critical resources and updates on the spread of the coronavirus – also being referred to as COVID-19 – Congress has passed a $8.3 billion emergency funding bill to fight the spread of the disease across the U.S. NAFCU is continuing to closely track the situation and encourages its members to follow government updates to stay informed and safe.
Tips for handling stop payment orders in new Compliance Blog post [ [link removed] ]
In the latest post on the Compliance Blog, NAFCU Senior Regulatory Compliance Counsel Jennifer Aguilar outlines steps and precautions credit unions should consider when handling stop payment requests from their members.
CU membership surpasses 120M [ [link removed] ]
Membership at federally-insured credit unions reached 120.4 million – representing 3.6 percent growth over the year – according to the NCUA's fourth quarter call report data. In addition, assets rose $113 billion over the year and ended the fourth quarter at $1.57 trillion.
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