This
week: NAFCU engaged as NCUA takes up key issues, Congress debates funding
NAFCU's award-winning advocacy remains active in Washington as Congress and
the NCUA are poised to address several issues before the end of the year. The
association is keeping credit union priorities for additional relief amid the
coronavirus pandemic – and beyond – top of mind with lawmakers and regulators.
Senate
passes gov't funding extension, NDAA
The Senate Friday passed
two important pieces of legislation: A continuing resolution to extend federal
government funding to Dec. 18 and the fiscal year 2021 National Defense Authorization
Act (NDAA). While President Donald Trump signed the funding bill to avert a shutdown,
he has threatened to veto the NDAA; however, the NDAA passed both chambers by veto-proof majorities.
NAFCU outlines priorities for CFPB
To ensure credit unions have a healthy and appropriate regulatory environment
in which they can thrive, NAFCU has outlined for the CFPB several opportunities
ripe for reform. While NAFCU continues to urge the bureau to use its exemption
authority to exempt credit unions from its rulemakings, the association acknowledges
that CFPB regulations have significant impacts on the credit union industry and will keep fighting for relief.
Save up to
$300 on NAFCU conferences and online training!
'Tis the season to
save! Act now to get up to $300 off most 2021 NAFCU conferences and online training
subscriptions! Sale ends 1/8/21.
FinCEN
issues new fact sheet on information sharing
The Financial Crimes Enforcement
Network (FinCEN) last week issued a new fact sheet on section 314(b) of the USA
PATRIOT Act to enhance utility of the program and make clarifications on information
sharing between financial institutions. The fact sheet replaces an existing fact
sheet that was previously issued in 2016.
New
Compliance Monitor reviews 2020 reg compliance highlights, NCUA Board updates, more
The new edition of NAFCU's Compliance Monitor – available now in its digital
format – features a year-end review of federal regulatory compliance highlights
and recent actions taken by regulators. In addition, the Monitor answers some
recent questions the Compliance Team has received.
