NCUA
finalizes corporate CU rule, seeks feedback on RBC requirements, more
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
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
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.
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SBA
issues notice on PPP loan increases
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
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
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
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:
