Also: NDAA passes House; NAFCU seeks comments on remittance threshold proposal
NAFCU TODAY | The News You Need Daily.
December 12, 2019
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Today: NCUA vote expected on RBC delay [ [link removed] ]
The NCUA Board today is expected to issue a final rule to delay the implementation of its risk-based capital (RBC) rule and finalize its proposed 2020-2021 budget. The board is also set to receive a briefing on the normal operating level (NOL) for the 2020 National Credit Union Share Insurance Fund (NCUSIF).
NDAA passes House, advances to Senate [ [link removed] ]
The House Wednesday advanced the fiscal year 2020 National Defense Authorization Act (NDAA), which was reported out of conference earlier this week. NAFCU's months-long advocacy campaign ensured a credit union-opposed provision that would have treated big banks the same as a military installation's local, not-for-profit credit union when it comes to nominal leases was not included in the final report.
Remittance proposal: Are threshold adjustments adequate? [ [link removed] ]
NAFCU is seeking feedback from member credit unions on the CFPB's proposal to increase the safe harbor threshold under its remittance rule. Although the proposed threshold is not as high as NAFCU recommended, the association acknowledges the benefits of the exemption for those credit unions that do not originate many remittance transfers.
FOMC leaves rates unchanged; NAFCU's Long predicts 'stable' rates in 2020 [ [link removed] ]
The Federal Open Market Committee (FOMC), as expected, left the federal funds target rate at a range of 1.5 percent to 1.75 percent at the conclusion of its two-day monetary-policy setting meeting. This follows three rate cuts - totaling 75 basis points - in 2019.
House committee advances NAFCU-supported bills on MDIs [ [link removed] ]
The House Financial Services Committee advanced two bills supported by NAFCU out of its markup yesterday related to minority depository institutions (MDIs). A NAFCU witness in October shared with a House Financial Services subcommittee the critical role MDIs play in serving diverse and underserved communities.
CU CFOs explore growth, fintech at NAFCU Summit [ [link removed] ]
As the industry seeks growth opportunities, how can credit unions deal with growing pains? What is the role of a chief financial officer (CFO) in regards to fintech? Attendees at NAFCU's Credit Union CFO Summit will explore these questions and more as the conference wraps up today.
Rate hike 'long way off' based on inflation, says NAFCU economist [ [link removed] ]
On a seasonally-adjusted basis, overall consumer prices increased 0.3 percent in November following a 0.4 percent rise in October. NAFCU's Curt Long, in a new Macro Data Flash report, attributed the growth mainly to increased energy and shelter prices.
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