NCUA
proposes expanding CUs' use of subordinated debt
The NCUA Board
Thursday unanimously approved four items during its meeting: A proposed rule that
would expand credit unions' ability to issue subordinated debt; a proposed
rule to clarify requirements for credit unions seeking to assume liabilities,
merge or consolidate with other financial institutions; the extension of the 18
percent loan interest rate ceiling to Sept. 2021; and the agency's 2020 Annual Performance Plan.
Berger
asks Kraninger for FFIEC to lead on data privacy guidance
NAFCU President
and CEO Dan Berger, in a letter Thursday, asked CFPB Director and Federal Financial
Institutions Examination Council (FFIEC) Chair Kathy Kraninger to provide interagency
guidance related to the Gramm-Leach-Bliley Act (GLBA) to help credit unions and
other financial institutions comply with data privacy laws.
5
things CU leaders need to know
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 need-to-know news bits.
NAFCU's 2020
Advocacy Priorities
Supporting legislation and regulation that helps
credit unions grow.
ECU
Monitor: CUs affected by privacy laws, compliance cost
The January
edition of NAFCU's Economic & CU Monitor report – now available for
download – found over half of survey respondents have been affected by the implementation
of the California Consumer Privacy Act (CCPA), with 20 percent indicating that
they were also affected by the European General Data Protection Regulation (GDPR). The CCPA went into effect Jan. 1.
NCUA's
Fazio, Jones promoted to new positions
Following Thursday's meeting,
NCUA Board Chairman Rodney Hood announced several changes to the agency's leadership.
