Also: Thaler's call to action encourages CUs ahead of Caucus; NCUA agenda includes real estate appraisals, BSA



NAFCU TODAY | The News You Need Daily.

September 11, 2020



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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 news, including NAFCU's participation at the Federal Housing Finance Agency's (FHFA) listening session on its capital proposal, the Senate's failed vote on a "skinny" relief package, and more.


Thaler calls CU leaders to action ahead of NAFCU's Congressional Caucus  [ [link removed] ]
With NAFCU's Virtual Congressional Caucus kicking off on Monday, the association's Vice President of Legislative Affairs Brad Thaler penned an op-ed in CU Today calling credit union leaders to action to advocate for the nation's servicemembers. 


Real estate appraisals, BSA exemption among items on NCUA agenda [ [link removed] ]
The NCUA Board next week is set to issue a final rule related to real estate appraisals and an exemption under the Bank Secrecy Act's (BSA) customer identification program (CIP). The board will also receive a briefing on the National Credit Union Share Insurance Fund's (NCUSIF) quarterly report and an update on the Modern Examination and Risk Identification Tool (MERIT).






NAFCU: More details needed to encourage CU adoption of FedNow Service [ [link removed] ]
In response to the Federal Reserve's recent update on the FedNow Service, NAFCU Senior Counsel for Research and Policy Andrew Morris Thursday shared credit unions' feedback with the board. Since the announcement of the program, NAFCU has continuously worked with member credit unions to understand what they would like out of the system.


New Compliance Monitor features flood insurance basics, FAQs [ [link removed] ]
The new edition of NAFCU's Compliance Monitor – available now in its digital format – features a breakdown of flood insurance for originations as hurricane season remains in full force. In addition, the Monitor flags recent guidance issued from the Internal Revenue Service (IRS) on the implementation of a payroll tax deferment and answers some recent questions the Compliance Team has received.


CUs see strong share growth, 1st mortgage loan originations [ [link removed] ]
Credit unions saw share growth reach its highest level on record in the second quarter, according to NAFCU's new CU Industry Trends report. In addition, loan growth remained stable amid the first few months of the coronavirus pandemic, bolstered by first mortgage real estate loans.


New on the Compliance Blog: RFPA exceptions, credit card penalty fees [ [link removed] ]
As credit unions work to meet members' needs during the coronavirus pandemic and start to restore normal operations, NAFCU's award-winning Regulatory Compliance Team will continue to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.



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