NAFCU
warns GSE capital proposal could have negative outcomes
In response
to the Federal Housing Finance Agency's (FHFA) re-proposed rule to establish
capital requirements for the government-sponsored enterprises (GSEs), NAFCU's
Elizabeth LaBerge urged the agency to "adopt a realistic capital framework
for the GSEs to begin moving toward exiting conservatorship." She warned
that excessively high capital requirements could negatively impact credit unions
and increase the cost of mortgage credit across the system, limiting access for vulnerable borrowers.
Treasury,
IRS offer clarification on employment tax deferral ordered by President Trump
The Treasury Department and the Internal Revenue Service (IRS) Friday released
guidance to clarify the implementation of an executive order allowing employers
to defer withholding and payment of an employee's portion of the payroll
tax if the employee's wages were below a certain amount. The executive order
was issued by President Donald Trump Aug. 8.
NAFCU
reiterates call for FCC to protect legitimate callers
In response to
the Federal Communications Commission's (FCC) recent order and fourth further
notice of proposed rulemaking on methods to target and eliminate unlawful robocalls,
NAFCU's Elizabeth LaBerge reiterated NAFCU's call for the agency to
protect legitimate callers and ensure consumers receive important information.
Watch
Sec. Condoleezza Rice keynote Virtual Congressional Caucus
Then
provide insights to Congress on how to help CUs grow.
Keynote presentation with support by Allied Solutions
NAFCU
raises CU COVID-19 relief priorities ahead of hearing
Treasury Secretary
Steven Mnuchin is set to testify today before the House Select Subcommittee on
the Coronavirus Crisis as he has played an integral role in negotiating packages
and implementing programs amid the pandemic. Ahead of the hearing, NAFCU Vice
President of Legislative Affairs Brad Thaler reiterated the association's
call for additional credit union relief measures to be included in the next coronavirus-related package.
Cybersecurity
and payments committee to discuss FedNow, OCC charter
NAFCU's
Cybersecurity and Payments Committee today is set to hear an update on the Federal
Reserve's FedNow Service from the Federal Reserve Bank of Chicago's
Tim Boike. The committee will also discuss activity related to the Office of the
Comptroller of the Currency's (OCC) payments charter and U.S. Coin Task Force.
NCUA
bans 1 from future work in FIs
The NCUA in August issued one prohibition
notice, prohibiting an individual previously associated with credit unions from
any future participation in the affairs of a federally-insured financial institution.
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