Also: GSEs to retain earnings to satisfy capital rule; NCUA, CFPB sign MOU, update on RDC litigation, more to know



NAFCU TODAY | The News You Need Daily.

January 15, 2021



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NCUA finalizes corporate CU rule, seeks feedback on RBC requirements, more [ [link removed] ]
The NCUA Board Thursday held its first meeting of 2021 and approved three proposed rules, an advance notice of proposed rulemaking (ANPR), and a final rule that are related to several credit union hot topics – including risk-based net worth requirements for "complex" credit unions and risk-based capital requirements.


GSEs to retain earnings to meet capital requirements [ [link removed] ]
The Federal Housing Finance Agency (FHFA) and Treasury Department Thursday announced amendments to the Preferred Stock Purchase Agreements, allowing the government-sponsored enterprises (GSEs) to retain earnings until they meet capital rule requirements. In addition, the announcement indicated that Treasury will permit the GSEs to raise private capital and exit conservatorship once certain conditions are met, in addition to restructuring the department's investment in each enterprise.


5 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 related to a new agreement between the NCUA and CFPB, an update on remote deposit capture (RDC) litigation, and more.






SBA issues notice on PPP loan increases [ [link removed] ]
The Small Business Administration (SBA) issued a procedural notice Thursday regarding first draw paycheck protection program (PPP) loan increases. The notice, which impacts any loan that was approved on or before Aug. 8, 2020, details the circumstances under which borrowers may request a PPP loan increase from their original lender.


Explore January-February NAFCU Journal on new virtual hub [ [link removed] ]
NAFCU has launched a new virtual hub to host The NAFCU Journal online, providing credit unions with a user-friendly experience to explore the award-winning magazine's content and search for issue-specific articles and columns. The January-February edition is now available, with features detailing NAFCU President and CEO Dan Berger's mission to support credit union growth and senior Government Affairs team members' expectations for the year ahead.


This week on the Compliance Blog: Ancillary product disclosures, FOM, more [ [link removed] ]
As credit unions work to meet the needs of more than 123 million Americans during the coronavirus pandemic, NAFCU's award-winning Regulatory Compliance Team continues to keep credit unions informed with new posts on the Compliance Blog every Monday, Wednesday, and Friday.


NAFCU closed Monday for MLK Day [ [link removed] ]
NAFCU's offices will be closed Monday in observation of Martin Luther King Jr. Day but credit unions can still access the association's website for resources and upcoming events. Here are a few items to be aware of:



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NAFCU Calendar: [link removed]





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