NAFCU, CUs at NY Fed today
NAFCU continues its series of meetings at Federal Reserve Banks today with Federal
Reserve Bank of New York President John Williams. Senior members of the association's
advocacy team and member credit unions will discuss issues facing the industry,
including the outlook for the economy and interest rates, as well as faster payments.
Fed's
Quarles: LIBOR transition poses stability risks
As the London Interbank
Offered Rate (LIBOR) is set to stop publishing after 2021, Federal Reserve Vice
Chair for Supervision and Chair of the Financial Stability Board Randal Quarles
is warning that the transition away from the rate could pose financial stability risks.
Important
compliance deadlines CUs should know
NAFCU this week sent Final Regulation
alerts to member credit unions to notify them of important effective dates for
rules that will impact the industry. The rules covered include the CFPB's
innovation policies, NCUA's payday alternative loans (PALs), and the Department of Labor's (DOL) overtime rule.
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NAFCU-member reps to serve on CFPB's CUAC
The CFPB Thursday released
new appointments for its advisory boards. Three of the eight representatives who
will serve on the Credit Union Advisory Council (CUAC) are from NAFCU-member credit unions.
Compliance
seminar wraps up; register now for 2020 conferences
NAFCU's Regulatory
Compliance Seminar wraps up today with a regulatory update and sessions focused
on hot topics such as the Telephone Consumer Protection Act, NCUA model bylaws, and data breaches.
