Also: Updates on failed corporate CUs, PPP, more to know this week; Lawmakers introduce bills to help smallest biz



NAFCU TODAY | The News You Need Daily.

June 19, 2020



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Exams, risk-based net worth, more on NCUA agenda [ [link removed] ]
The NCUA Board next week is set to issue a request for information related to the future of exams and supervision using digital technology, a final rule on technical amendments, and a proposed rule on risk-based net worth. Additionally, the board will receive a briefing on the agency's guaranteed notes oversight program and an annual report on minority depository institutions (MDIs).


4 things to know this week [ [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 updates on NCUA's plan to remit distributions to former members of failed corporate credit unions, the paycheck protection program (PPP), and more.


Lawmakers introduce bills to support smallest biz [ [link removed] ]
A pair of bills were introduced in Congress Thursday to allow small businesses hardest hit by the coronavirus pandemic to receive a second paycheck protection program (PPP) loan. The Prioritized Paycheck Protection Program (P4) Act is in response to the recent Office of Inspector General's flash report that determined the PPP did not prioritize underserved and rural areas as Congress had intended.






NAFCU, trades offer support for CFPB commission bill [ [link removed] ]
NAFCU joined with more than a dozen other financial services industry trade groups Thursday to offer support for Sen. Deb Fischer's, R-Neb., legislation that would reform the CFPB's leadership structure from a single director to a bipartisan commission.


Fed's Fraud Definitions Work Group releases new classification model [ [link removed] ]
The Federal Reserve's Fraud Definitions Work Group Thursday released a new fraud classification model, the Fraud Classifier, for payments. The model, designed to help organizations better understand the magnitude of fraud involving payments, can be applied across an organization to ensure internal consistency.


Compliance Blog roundup: LIBOR transition, e-sign, elder abuse [ [link removed] ]
As credit unions work to meet the needs of their members and communities amid the coronavirus pandemic and restore normal operations, NAFCU's award-winning Regulatory Compliance Team is continuing to keep the industry informed with on the Compliance Blog every Monday, Wednesday, and Friday.


Reminder: NAFCU's Online Training Center under maintenance next week [ [link removed] ]
NAFCU's Online Training Center will not be accessible Monday and Tuesday as the site gets revamped to give credit unions easier access to new content and improve the overall user experience.



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