Also: GSE patch focus of NAFCU, CFPB meeting; Stay committed to cybersecurity with these resources
NAFCU TODAY | The News You Need Daily.
October 30, 2019
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NCUA proposes $316M in spending for 2020 [ [link removed] ]
The NCUA Tuesday released its proposed budget for 2020 and 2021, which estimates $316.2 and $325.9 million, respectively, for its operating budget. The 2020 budget also includes an increase of the number of staff by three positions. The agency will hold a budget briefing Nov. 20, before its November Board meeting.
NAFCU, CFPB meet on GSE patch [ [link removed] ]
NAFCU's Carrie Hunt, Ann Kossachev, and Kaley Schafer met Tuesday with representatives at the CFPB to discuss the possible expiration of the temporary government-sponsored enterprises (GSE) qualified mortgage (QM) patch (or GSE patch). NAFCU has engaged with the bureau on the issue throughout the year; the bureau in July issued an advance notice of proposed rulemaking (ANPR) to revise the general QM definition.
NAFCU to CUs: Prepare for cyber threats year-round [ [link removed] ]
As National Cybersecurity Awareness Month comes to a close, NAFCU is reminding credit unions to effectively prepare for and address cyber threats to keep institutions and members safe throughout the year.
Hemp production rule released [ [link removed] ]
The U.S. Department of Agriculture (USDA) released an interim final rule this week that outlines provisions for legal hemp production. The NCUA in August released interim guidance allowing federally insured credit unions to provide certain financial services to legally-operating hemp businesses, and is expected to release additional guidance taking into account the USDA's rule. NAFCU met with FinCEN recently to discuss potential guidance related to hemp banking.
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