Exams,
risk-based net worth, more on NCUA agenda
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
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
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's State of the Industry - A Virtual
Event
Get the data, trends and takeaways you need now to keep your
operations strong.
NAFCU,
trades offer support for CFPB commission bill
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
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
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
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.
