Also: Democratic debates may touch on CU issues, NAFCU calls for fintech oversight



NAFCU TODAY | The News You Need Daily.

July 30, 2019



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NAFCU urges SSA to extend SSN verification database enrollment [ [link removed] ]
NAFCU's Ann Kossachev urged the Social Security Administration (SSA) to extend the initial enrollment period – which is currently set to end tomorrow at 6 p.m. Eastern – for its electronic Consent Based Social Security Number Verification (eCBSV) service. Institutions could begin enrolling in the system July 17.


NAFCU monitoring democratic debates for CU issues [ [link removed] ]
The second round of debates for the democratic presidential nomination begins tonight in Detroit. NAFCU's award-winning advocacy team will monitor the debates and watch for the candidates' positions on key credit union issues, including big bank accountability, faster payments, housing finance reform, data security and more.


NAFCU's Virkus reiterates need for fintech oversight [ [link removed] ]
Ahead of a Senate Banking Committee hearing today on cryptocurrencies and blockchain, NAFCU Associate Director of Legislative Affairs Max Virkus reiterated the need for appropriate oversight of new financial technologies to protect consumer data and compete on a level playing field with credit unions.






Today: Get Washington update from NAFCU's advocacy team [ [link removed] ]
NAFCU's Government Affairs team today is offering a free webinar for association member credit unions on the latest developments in Washington – from Congress to regulators to the administration. Some topics that will be covered include the current expected credit loss (CECL) accounting standard, NCUA's risk-based capital (RBC) rule, loan maturity limits and marijuana banking.


NAFCU to NCUA: Preserve alternative dollar limit under public unit, nonmember shares [ [link removed] ]
In a letter to the NCUA Monday, NAFCU's Andrew Morris shared the association's support for its proposal to allow federal credit unions (FCUs) to receive public unit and nonmember shares up to 50 percent of paid-in and unimpaired capital and surplus less any public unit and nonmember shares.


Rate cut expected as FOMC begins 2-day meeting [ [link removed] ]
The Federal Open Market Committee (FOMC) is expected to cut rates by 25 basis points at the conclusion of its two-day monetary-policy setting meeting, which begins today. NAFCU Chief Economist and Vice President of Research Curt Long has anticipated this move since the committee's May meeting.



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