Also: Berger, NCUA's Hauptman discuss top CU issues; Fed offers synthetic ID fraud definition
NAFCU TODAY | The News You Need Daily.
April 7, 2021
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New NAFCU video urges policymakers to provide much needed fintech regulation [ [link removed] ]
NAFCU Tuesday released a new video to alert policymakers and consumers of the growing issue of financial technology companies applying to become a bank or acquiring a bank. In the video, NAFCU urges policymakers and federal financial regulators to make necessary changes to combat the risk this poses to the financial system.
NCUA's Hauptman meets with NAFCU on pressing CU issues [ [link removed] ]
NAFCU President and CEO Dan Berger met with NCUA Vice Chairman Kyle Hauptman Tuesday to discuss top credit union issues and priorities, including capital-related flexibilities and rulemakings, the National Credit Union Share Insurance Fund (NCUSIF), and using new technologies and innovation to better serve members.
Fed recommends synthetic ID fraud definition [ [link removed] ]
The Federal Reserve Tuesday released an industry-recommended definition of synthetic identity fraud: The use of a combination of personally identifiable information (PII) to fabricate a person or entity in order to commit a dishonest act for personal or financial gain.
NAFCU reiterates concerns about costs, limitations of GSEs' PSPA changes [ [link removed] ]
NAFCU joined with several other trade groups Tuesday to reiterate concerns to the Treasury Department and Federal Housing Finance Agency (FHFA) about recent amendments to the government-sponsored enterprises' (GSEs) Preferred Stock Purchase Agreements (PSPAs). NAFCU last month month flagged that the changes would add to the GSEs' compliance costs and could result in increased fees for borrowers and lenders.
CDRLF grant applications open May 3 [ [link removed] ]
Low-income designated credit unions can begin applying for grants through the NCUA's Community Development Revolving Loan Fund (CDRLF) May 3. The agency plans to give out approximately $1.5 million in grants, according to the notice of funding opportunity.
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