CFPB
Director Kraninger to speak at NAFCU Caucus
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
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
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.
Built by CFOs,
for CFOs
The actionable info you need to advance your CU further
Fair
lending, hemp banking featured in new digital Compliance Monitor
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
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
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.
