CECL,
cybersecurity, more discussed in NAFCU Board meeting with Fed's Bowman
The NAFCU Board of Directors met Thursday at the Federal Reserve with Board Governor
Michelle Bowman to review various economic and regulatory trends affecting credit
unions. The meeting, which NAFCU holds annually at the Fed, coincides with the
association's release of its Report on Credit Unions – now available for download.
NAFCU
Board, NCUA's Hood discuss key CU concerns
Members of the NAFCU
Board of Directors yesterday met with NCUA Board Chairman Rodney Hood to discuss
issues affecting credit unions, including cybersecurity, capital reform, and exam
modernization. NAFCU President and CEO Dan Berger and senior members of NAFCU's staff accompanied the group.
5
things CU leaders need to know
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 need-to-know news bits.
2019 Most Popular
Member Resources
See the list and more in our 2019 accomplishments.
NCUA
responds to FOM case petition
The NCUA Thursday filed its response
to the American Bankers Association's (ABA) petition for an en banc rehearing
of its lawsuit challenging the NCUA's 2016 field of membership (FOM) rule.
The appeals court three-judge panel decision in August was largely in favor of the NCUA on key issues in the lawsuit.
NCUA
Board approves IRPS, moves forward with real estate appraisal increase
The NCUA Board Thursday unanimously approved two items during its meeting: A proposed
rule to raise the current residential real estate appraisal threshold, and a final
Interpretive Ruling and Policy Statement (IRPS), known as the Second Chance IRPS.
Members of NAFCU's Executive and Regulatory Affairs teams, and the association's
Board of Directors attended yesterday's meeting.
CECL,
RBC on NCUA's fall rulemaking agenda; HMDA, debt collection on CFPB's
Administrative agencies – including the NCUA and CFPB – Thursday released
their fall regulatory agendas. A number of issues on the agendas are hot-topics,
such as the current expected credit loss (CECL) standard, and rulemakings already
underway; see what can be expected in the coming months.
ICYMI:
Google shares checking account plan with NAFCU
Technology companies
are increasingly seeking ways to enter the financial services marketplace, and
Google last week detailed its intentions to start offering checking accounts during
a meeting at NAFCU's headquarters with association President and CEO Dan
Berger and Executive Vice President of Government Affairs and General Counsel Carrie Hunt.
NAFCU
predicts more 'modest' growth as existing-home sales rise in October
Existing-home sales rose 1.9 percent in October to a seasonally adjusted annual
rate of 5.5 million units, with sales decreasing only in the West region. NAFCU
Chief Economist and Vice President of Research Curt Long reacted to the growth
and noted that the market is still constrained by supply in a Macro Data Flash report.
