This
week: NAFCU readies advocacy on fintech chartering
The House and Senate
are back in session this week and lawmakers are set to discuss several key issues
ranging from housing to the LIBOR transition and financial institution chartering.
NAFCU last week launched a new campaign to bring awareness to chartering risks
of fintech banks if lawmakers and regulators do not ensure proper oversight.
Biden
proposes boosting CDFI, SBA, FinCEN funding
President Joe Biden Friday
released his fiscal year 2022 discretionary funding request, which the administration
indicated "outlines a strategy for reinvesting in the foundations of our
country's resilience and strength." Of note for credit unions, the proposal
would boost funding for the Small Business Administration (SBA) and Community
Development Financial Institution (CDFI) Fund compared to the 2021 enacted levels.
Financial
Literacy Month: Members 1st of NJ takes educational seminars virtual
April is Financial Literacy Month, and NAFCU is celebrating the resourceful and
creative ways credit unions provide financial education to their members. This
week, we’ll learn about Members 1st of New Jersey Federal Credit Union, a $73
million shop located halfway between Philadelphia and Atlantic City in Vineland, N.J.
CEOs
and Senior Executives Conference
Gain insights from growth-oriented
executives and industry thought leaders as they outline today and tomorrow's most
impactful forces affecting your credit union.
CUs:
Share insights on AI usage, beneficial ownership reporting
NAFCU Friday
sent two new Regulatory Alerts to members breaking down the federal financial
regulators' request for information (RFI) seeking insights into financial
institutions' use of artificial intelligence (AI) and the Financial Crimes
Enforcement Network's (FinCEN) advance notice of proposed rulemaking (ANPR)
related to the implementation of the beneficial ownership information reporting
provisions included in the Anti-Money Laundering Act (AMLA).
FI
regulators seek feedback on risk management guidance
Federal banking
regulators, including the NCUA, today published a request for information (RFI)
to see if the principles included in interagency supervisory guidance on model
risk management (MRMG) effectively support compliance with Bank Secrecy Act (BSA)/anti-money laundering (AML) requirements.
Explore
new strategies for today's challenges at NAFCU's CEOs Conference
Credit union CEOs and senior executives looking to discover best-in class strategies
for adapting to members' needs and insider insights can look no further than
NAFCU's CEOs and Senior Executives Conference. The hybrid conference, happening
May 12-14, will take place both virtually and in-person in Key West, Fla.
