NAFCU
advises NCUA against NCUSIF premium, calls for more investment opportunities
Following last week's NCUA meeting during which the agency discussed the
impact of the coronavirus pandemic on credit unions' share growth and the
National Credit Union Share Insurance Fund's (NCUSIF) equity ratio, NAFCU's
Curt Long advised the NCUA Board to consider measures to allow credit unions additional
investments – even on a temporary basis – rather than assess a premium to lower the ratio.
House
passes deal to avert gov't shutdown
After House Democrats'
short-term funding proposal released earlier this week received pushback, Speaker
of the House Nancy Pelosi, D-Calif., and Treasury Secretary Steven Mnuchin –
who's leading the administration's funding negotiations – continued
negotiations and reached a bipartisan deal Tuesday evening to fund the government
through Dec. 11. The House passed the measure last night; the Senate is expected to approve it later this week.
New
report calls for greater law enforcement access to BSA reports
The
Government Accountability Office (GAO) Tuesday released a new report reviewing
law enforcement agencies' use of Bank Secrecy Act (BSA) reports and the cost
of BSA compliance for financial institutions. NAFCU is an ardent advocate for
BSA/anti-money laundering (AML) modernization, and has previously shared with
the Financial Crimes Enforcement Network (FinCEN) ways to improve information
sharing between financial institutions and law enforcement.
NAFCU's Credit Union Compliance Roadmap
is now available!
NAFCU's Credit Union Compliance GPS is now the
Credit Union Compliance Roadmap. Download a sneak peek today!
NAFCU's
Thaler outlines data privacy principles, urges national standard ahead of hearing
Ahead of today's Senate Commerce Committee hearing reviewing the need for
federal data privacy legislation, NAFCU Vice President of Legislative Affairs
Brad Thaler reiterated NAFCU's call for national data privacy and security
standards and explained the urgent need to protect consumer information.
Mnuchin,
Powell discuss PPP issues during testimony
Treasury Secretary Steven
Mnuchin and Federal Reserve Board Chairman Jerome Powell Tuesday addressed concerns
related to the paycheck protection program (PPP) during a House Financial Services
Committee hearing to examine the agencies' response to the pandemic.
Register
now: Reg Compliance Seminar offers advanced training in BSA, existing trends, more
As regulatory trends continue to evolve, credit union compliance professionals
can sharpen Bank Secrecy Act (BSA) and compliance knowledge with advanced training
at NAFCU’s Virtual Regulatory Compliance Seminar happening Oct. 27-30.
Existing-home
sales continue rise in August, reach highest level since 2006
Existing-home
sales continued to rise in August, reaching a seasonally-adjusted rate of six
million units and marking its highest level on record since December 2006. This
represents a 10.5 percent increase in sales versus a year ago.