Also: NAFCU flags CCPA's confusion, compliance burdens; A roundup of this week's top news



NAFCU TODAY | The News You Need Daily.

December 6, 2019



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NCUA Board set to finalize budget, RBC delay [ [link removed] ]
The NCUA Board Thursday is set to finalize its proposed 2020-2021 budget and issue a final rule to delay the implementation of its risk-based capital (RBC) rule. The board will also receive a briefing on the normal operating level (NOL) for the 2020 National Credit Union Share Insurance Fund (NCUSIF).


NAFCU on CCPA: Law shouldn't apply to CUs as it creates confusion, compliance burdens [ [link removed] ]
In a letter to California Attorney General Xavier Becerra, NAFCU's Mahlet Makonnen outlined a number of concerns the association and its member credit unions have related to the California Consumer Privacy Act (CCPA), which is set to take effect Jan. 1., 2020. NAFCU is an advocate for a uniform federal standard – not a patchwork of state privacy laws – and this week unveiled principles for a national data privacy standard.


5 things CU leaders need 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 need-to-know news bits.






FinCEN's BSA analysis reflects rise of elder financial abuse [ [link removed] ]
In light of a recent increase in suspicious activity report (SAR) filings, the Financial Crimes Enforcement Network (FinCEN) Wednesday published a strategic analysis of Bank Secrecy Act reporting over the past six years. The report indicates that elder Americans face increased threats to their financial security from domestic and foreign actors.


NAFCU talks marijuana banking landscape with state AGs, regulators [ [link removed] ]
NAFCU Regulatory Affairs Counsel Kaley Schafer yesterday provided insights into regulatory challenges facing financial institutions that serve marijuana-related businesses (MRBs). Schafer was part of a panel at a Regulator Roundtable, hosted by the Maryland Medical Cannabis Commission, which also featured representatives from state credit union and bank supervisory groups.


NAFCU seeks input on residential real estate appraisal proposal [ [link removed] ]
As the NCUA considers raising the threshold requirement to $400,000 for an appraisal of a single one-to-four family residential property, NAFCU is seeking credit unions' feedback on how the increase would impact institutions' operations.


Save big on NAFCU webinars next week [ [link removed] ]
For two days only, NAFCU is offering a flash sale on all webinars. Credit unions can save 50 percent off each webinar purchased Tuesday and Wednesday. One purchase provides unlimited access to that webinar for a year.



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