Also: Long in testimony, Hunt in op-ed stress accountability in NCUA budget; GSEs' capital rule to be re-proposed
NAFCU TODAY | The News You Need Daily.
November 20, 2019
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NAFCU's Hunt provides CUs with RDC update; New Compliance Blog tackles issue [ [link removed] ]
NAFCU's Carrie Hunt updated credit unions and discussed unresolved legal questions relating to remote deposit capture (RDC) patent litigation in an email sent Tuesday to members. Earlier this month, a jury in Texas determined that Wells Fargo had intentionally infringed on USAA's mobile RDC patents, resulting in $200 million in damages to be paid by Wells Fargo to USAA.
Accountability, efficiency among Long's recommendations for NCUA budget [ [link removed] ]
NAFCU's Curt Long is set to testify before the NCUA Board today on the agency's proposed 2020 and 2021 budgets. Long will reiterate the association's call for prudent management of funds by suggesting ways to improve accountability, specifically through cost-benefit analysis of NCUA programs as well as rules.
FHFA to re-propose capital rule for GSEs [ [link removed] ]
The Federal Housing Finance Agency (FHFA) announced Tuesday that it will re-propose its rule – likely sometime next year – to set capital requirements for the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. FHFA Director Dr. Mark Calabria indicated that this was a possibility while at NAFCU's Congressional Caucus in September.
NAFCU cites accountability as key issue for NCUA budget in new op-ed [ [link removed] ]
Ahead of the NCUA public budget briefing, NAFCU's Carrie Hunt published an op-ed in Credit Union Journal expressing the association's commitment to ensuring the NCUA properly manages credit union funds throughout the budgeting process.
House passes 1-month budget extension; Senate vote expected [ [link removed] ]
The House Tuesday passed a short-term spending bill to extend federal government funding through Dec. 20. As current funding is set to expire at midnight tomorrow, Senate leaders said the chamber will vote on the continuing resolution before the deadline in order to avert a shutdown. President Donald Trump has indicated he will sign the short-term extension.
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