Today:
NCUA vote expected on RBC delay
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
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?
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.
Free NAFCU
Member Call-in Dec. 18
Join us as we review updates on NCUA and
CFPB Fall rulemaking agenda's, efforts to avert a government shutdown and NAFCU's
advocacy priorities for 2020.
FOMC
leaves rates unchanged; NAFCU's Long predicts 'stable' rates in 2020
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
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
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
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.
