The NCUA has issued a Letter to Credit Unions that clarifies the agency's interest rate risk (IRR) supervisory framework and makes it more flexible. The agency stated that the changes to the IRR supervisory framework are intended to improve the “NCUA’s supervision of IRR in credit unions given current market conditions.”
The Electronics Payment Coalition (EPC) recently released a list of more than 140 organizations that oppose the Credit Card Competition Act, which was introduced in July by Senators Dick Durbin, D. Ill., and Roger Marshall, R. Kansas. The organizations listed span across finance, banking, merchant, and consumer advocate industries and all agree that the proposed credit card routing mandates included in the legislation are bad for consumers, small businesses, and financial institutions of all sizes.
Following NAFCU’s advocacy for Community Development Financial Institutions (CDFIs), Representatives Andy Barr, R-Ky., and John Rose, R-Tenn., wrote to CDFI Fund Director Jodie Harris on recent issues collected from multiple CDFI credit unions regarding CDFI application delays, lack of communication, inconsistent cure periods, and more.
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The latest episode of NAFCU’s Credit Union Policy Podcast (CUPP), which launched in early July, features a discussion between Scott Reuter, Freddie Mac’s Chief Appraiser and Director of Valuation, Single Family, Mortgage Credit Risk Management and CUPP host, NAFCU Vice President of Regulatory Affairs Ann Petros, on all things appraisal modernization and eliminating appraisal bias.
NAFCU’s offices will be closed Monday in observance of the Labor Day holiday. Credit union members will still have access to the association’s website for resources as well as regulatory and legislative updates on key issue areas.
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 top need-to-know updates and resources.
House Financial Services Committee Chairwoman Maxine Waters, D-Calif., has announced the committee’s September schedule. NAFCU will monitor several hearings on topics of note.
Attend NAFCU’s Regulatory Compliance & BSA Seminar, Sept. 27 – 29 in Louisville, to recertify your NCCO or NCBSO while giving yourself the power to confidently tackle evolving regulatory trends. View agenda.
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