Also: 12 issues for policymakers to tackle; NAFCU cautions FinCEN on BSA recordkeeping, travel threshold increases



NAFCU TODAY | The News You Need Daily.

November 30, 2020



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This week: NAFCU meets with key agencies; NCUA reviews budget, awaits board member vote [ [link removed] ]
As Congress returns to Washington to tackle several big issue items before the end of the year, NAFCU's award-winning advocacy team will be engaged on Capitol Hill ensuring the credit union industry voice is heard while also meeting with key agencies to discuss industry priorities.


NAFCU to policymakers: 12 key issues for immediate action [ [link removed] ]
As the end of the year approaches, NAFCU's government affairs team remains hard at work to secure even more wins and relief for the credit union industry. To help bolster these efforts, the association is leading the fight for action on 12 key issues that should be addressed in the congressional lame duck session and with regulators in the transition to a new administration.


NAFCU urges FinCEN against increase of thresholds under BSA recordkeeping, travel rule reg [ [link removed] ]
NAFCU's Kaley Schafer – in response to a joint notice of proposed rulemaking, issued by Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve, to amend the Bank Secrecy Act's (BSA) recordkeeping and travel rule regulations – asked that FinCEN not increase the cross-border threshold as the costs of credit union compliance and to the payments systems outweigh the usefulness when Bank Secrecy Act (BSA) reports provide duplicate information.






ECU Monitor: CUs reveal mixed feelings on virtual NCUA exams [ [link removed] ]
The November edition of NAFCU's Economic & CU Monitor report – now available for download – found the median length of NCUA exams increased to 14 days – potentially due to coronavirus-related disruption to operations or the piloting of the agency’s new Modern Exam and Risk Identification Tool (MERIT). Overall, credit unions revealed mixed feelings regarding the NCUA's adoption of virtual examination procedures.


Today: Save on 2021 NAFCU conferences [ [link removed] ]
Today on Cyber Monday, credit unions can take advantage of savings for most NAFCU 2021 conferences to ensure compliance staff, rising leaders, boards of directors, lending professionals, and more have access to the industry's top-rated education and training opportunities. Take $333 off registrations for in-person conferences with code INPERSON and $111 off registrations for virtual conferences with code VIRTUAL.



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