Also: NAFCU offers feedback on interagency BSA/AML RM guidance; 4 things to know



NAFCU TODAY | The News You Need Daily.

June 11, 2021



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Mancini to join NAFCU’s Board of Directors; Grinnell, Schlehuber re-elected [ [link removed] ]
NAFCU has announced the results of its Board of Directors election. A new board member, Frank Mancini, President and CEO of Connex Credit Union (North Haven, Conn.), will fill the position of board member and current Board Chair Debra Schwartz, President and CEO of Mission Federal Credit Union (San Diego, Calif.), whose final term will be completed in July. In addition, NAFCU Board Secretary Brian Schools announced Lisa Schlehuber, CEO of Elements Financial Federal Credit Union (Indianapolis, Ind.) was re-elected to her at-large seat and Gary Grinnell, President and CEO of Corning Federal Credit Union (Corning, N.Y.) was re-elected outright to the Eastern Region Director position after running uncontested.


NAFCU offers feedback on interagency BSA/AML risk management guidance [ [link removed] ]
NAFCU Senior Regulatory Affairs Counsel Kaley Schafer wrote to the NCUA Thursday to offer comments on an interagency request for information (RFI) seeking feedback on whether or not 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.


4 things to know [ [link removed] ]
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 updates and resources:






New on the Compliance Blog: NCUA derivatives rule, ransomware, Reg E [ [link removed] ]
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.


Year-over-year CPI up in May; Fed is unlikely to raise rates any time soon [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices rose 0.6 percent in May, with the Bureau of Labor Statistics reporting the overall consumer price index (CPI) grew 4.9 percent over the 12-month period. In a new Macro Data Flash report, NAFCU Chief Economist and Vice President of Research Curt Long noted that the year-over-year rise is the "Year-over-year measures are distorted by base effects, but the price index has grown by 2 percent over the past three months, which is the fastest pace since 2005"



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