Also: Compliance Blog reviews CFPB supervisory findings; Hood talks data security, more at NAFCU-attended event
NAFCU TODAY | The News You Need Daily.
January 16, 2020
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Lawmakers talk CECL's negative impacts, lack of understanding at hearing [ [link removed] ]
Several lawmakers flagged the potential economic consequences of the current expected credit loss (CECL) standard and criticized the lack of understanding about its impact during a House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets hearing Wednesday featuring Financial Accounting Standards Board (FASB) Chairman Russell Golden.
Compliance Blog reviews CFPB supervisory report findings [ [link removed] ]
In a new post on the Compliance Blog, NAFCU Regulatory Compliance Counsel Reginald Watson discusses the CFPB's recently released Fall 2019 Supervisory Highlights, which feature supervisory observations from recent examinations.
NCUA's Hood gives updates on data privacy, BSA/AML [ [link removed] ]
NAFCU Government Affairs staff attended an event yesterday during which NCUA Chairman Rodney Hood shared updates on several issues, including data privacy, regulatory relief, consumer protection, and fintech.
Beige Book: 2019 ends with 'modest' economic expansion [ [link removed] ]
The Federal Reserve's Beige Book released Wednesday revealed the economy expanded modestly in the final weeks of 2019, which was likely supported by "solid" holiday shopping. Several districts highlighted the importance of online shopping during this time.
CPI sees growth; No rate changes expected [ [link removed] ]
On a seasonally adjusted basis, overall consumer prices increased 0.2 percent in December following a 0.3 percent rise in November. NAFCU's Curt Long, in a new Macro Data Flash report, attributed the growth mainly to increased energy, medical care, and shelter prices.
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