Also: NCUA releases interim guidance on hemp; NAFCU's Berger talks growth in Associations Now



NAFCU TODAY | The News You Need Daily.

August 20, 2019



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CFPB Director Kraninger to speak at NAFCU Caucus [ [link removed] ]
Credit unions attending NAFCU's Congressional Caucus will get an inside-look at the CFPB's current efforts and priorities directly from bureau Director Kathy Kraninger. She joins a notable lineup that includes NCUA Board Chairman Rodney Hood and Board Member Todd Harper, Federal Housing Finance Agency Director Mark Calabria and President Donald Trump's Acting Chief of Staff and Director of the Office of Management and Budget Mick Mulvaney.


NCUA releases interim guidance on hemp for CUs [ [link removed] ]
The NCUA Monday released interim guidance allowing federally insured credit unions to provide certain financial services to legally operating hemp businesses. This is the first guidance offered by the agency on the issue, under which credit unions will be able to provide a traditional range of financial services including loans to business that fall within their field of membership.


Berger details NAFCU's recipe for membership growth [ [link removed] ]
Since 2013, NAFCU's membership has risen 37 percent and its revenue has grown 31 percent – an impressive feat among today's trade associations. In an Associations Now feature, NAFCU President and CEO Dan Berger detailed the association's recipe for success.






Fair lending, hemp banking featured in new digital Compliance Monitor [ [link removed] ]
New this month, NAFCU's Compliance Monitor is now digitally housed on the association's website to make reading articles and accessing other sections of the enewsletter easier for member credit unions. This month's Monitor features two hot topics: the impact of alternative data on fair lending and providing banking services to hemp-related businesses.


CUs asked about impact of CECL delay [ [link removed] ]
Following the Financial Accounting Standards Board's (FASB) release of a proposed Accounting Standards Update (ASU) to delay the current expected credit loss (CECL) standard by an additional year, NAFCU is seeking credit unions' feedback on how they would be impacted by the pushed-back effective date.


Compliance Blog tackles payday rule during delay [ [link removed] ]
Yesterday would have been the compliance deadline for the CFPB's payday lending rule, but litigation surrounding the rule and the bureau's decision to delay the ability-to-repay provisions until Nov. 19, 2020, has it in some limbo. In light of this, NAFCU's Reginald Watson details the implications of the rule on certain covered loans in a new Compliance Blog post.



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