The Federal Reserve extended the comment deadline on its interchange proposal to May 12, an additional 90 days past the original Feb. 12 deadline. CUNA and NAFCU — prior to the formation of America’s Credit Unions — requested the Fed extend the deadline to give stakeholders adequate time to analyze the data underlying the proposal …
The Financial Crimes Enforcement Network (FinCEN) should revisit its convertible virtual currency (CVC) mixing proposal to avoid covering the majority of financial institutions by a rule that should be targeted at a “relative few,” America’s Credit Unions wrote Monday. FinCEN’s proposal would establish certain reporting and recordkeeping requirements for those that participate directly in CVC …
NCUA issued a Letter to Credit Unions Monday outlining the agency’s supervisory priorities for 2024: credit risk, liquidity risk, consumer financial protection, information security, and interest rate risk. These represent the “areas posing the highest risk to credit union members, the credit union industry, and the National Credit Union Share Insurance Fund,” according to the …
The NCUA advisory issued Wednesday noted that while the credit union industry remains stable, the agency “continues to see growing liquidity stresses within the system.” The agency stated that credit unions “experiencing lower share growth, high loan growth, and declining levels of available liquidity as a result” need to focus on liquidity management. It called …
.jpg?width=350&upscale=true&name=ACU24_DailyEmail_AlliedSol%20(1).jpg)
