NCUA
proposals focus of Harper, Berger meeting
NCUA Board Member Todd Harper
was at NAFCU headquarters Tuesday meeting with NAFCU President and CEO Dan Berger
on a number of credit union priorities, including updates to the federal credit
union bylaws, payday alternative loans (PALs) and subordinated debt – all three
of which were included on the NCUA's spring rulemaking agenda.
NAFCU-sought
change in final rule on credit score models
The Federal Housing Finance
Agency (FHFA) issued a final rule Tuesday to evaluate new credit scoring models
for use by the government-sponsored enterprises (GSEs) that includes a NAFCU-sought
change to encourage competition by allowing more developers to submit models for consideration.
What
do CUs want in Fed's real-time payments service?
NAFCU Tuesday
sent a Regulatory Alert to member credit unions seeking feedback on the Federal
Reserve's FedNow Service – a real-time gross settlement service that will
feature integrated clearing functionality designed to process individual payments within seconds.
Save $250 on
Summer Training for your staff and board
Use code SUMMER by 8/30/19
to get $250 off ALL NAFCU Online Training Subscriptions
Law
enforcement, FBI discuss BSA compliance with CUs
Law enforcement leaders
and agents from the FBI are in Minneapolis today at NAFCU's Bank Secrecy
Act (BSA) Seminar to discuss firsthand how sophisticated criminals get away with
money laundering schemes and typical investigation methods. The seminar concludes today.
Mortgage
rules, military lending at Reg Compliance School
NAFCU's Regulatory
Compliance School continues today with sessions focused on various lending issues
related to mortgages, servicemembers, discrimination and more. Those working to
become a NAFCU Certified Compliance Officer (NCCO) will also take the second of
four exams to earn the prestigious designation.
Rate
cut questionable based on inflation, says NAFCU economist
On a seasonally-adjusted
basis, overall consumer prices increased 0.3 percent in July, with the Bureau
of Labor Statistics reporting that the overall consumer price index (CPI) grew
1.8 percent over the 12-month period. NAFCU Chief Economist and Vice President
of Research Curt Long, in a new Macro Data Flash report, noted that "core
inflation reached its highest level since the end of 2018."
