NCUSIF
not expected to need restoration plan; Derivatives rule finalized
The
NCUA Board Thursday received a quarterly briefing on the National Credit Union
Share Insurance Fund (NCUSIF) that indicated the equity ratio is not expected
to fall below the threshold to require a restoration plan. However, it is predicted
to reach 1.22 percent in June, which would be below the level at which the NCUA
can charge a premium. NAFCU continues to advocate against a premium assessment in 2021.
Senators
introduce bipartisan bill to better protect CUs, members
Senate Banking
Committee members Tina Smith, D-Minn., and Ben Sasse, R-Neb., Thursday introduced
a NAFCU-sought, bipartisan bill – the Credit Union Employee and Member Safety
Act – that would improve existing language in the Federal Credit Union (FCU)
Act related to expulsion in order to protect credit unions, members, and employees.
FASB
discusses CECL implementation with FIs, regulators
A representative
from NAFCU-member Mission Federal Credit Union Thursday shared the credit union
perspective during the Financial Accounting Standards Board (FASB) roundtable
on the current expected credit loss (CECL) standard. Representatives from several
financial institutions that have already adopted the standard were also present.
Congratulations
to the 2021 Innovation Award Finalists
The Innovation Awards honor
the transformational & valuable contributions to the credit union industry.
New
on the Compliance Blog: CTR refresher, Regulation Z, QM requirements
As credit unions work to meet the needs of more than 124 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.
