CUNA President/CEO Jim Nussle spoke with NCUA Vice Chairman Kyle Hauptman Monday on credit union pandemic-related issues and how NCUA can work to support credit unions through the pandemic and economic recovery.
Federally insured credit unions can get valuable information on Bank Secrecy Act and anti-money laundering compliance during a National Credit Union Administration webinar scheduled for April 14. Registration is now open, and it is scheduled to begin at 2 p.m. (ET).
NCUA awarded $75,000 in grants to three low-income, minority depository institution credit unions to support mentoring programs with larger credit unions. The grants were funded through the NCUA’s Community Development Revolving Loan Fund allocation.
President Donald Trump announced Monday the nomination of Kyle Hauptman to the NCUA board. He is currently an advisor for Sen. Tom Cotton (R-Ark.) on economic policy and staff director of the Senate Banking Committee’s subcommittee on economic policy.
The NCUA board issued a corporate credit union proposal, adopted a final interagency policy statement on the CECL standard at its Thursday meeting, in addition to hearing briefings on credit union mortgage rates and the NCUSIF.
NCUA should only promulgate new or expand existing rules only if they are warranted based on “a compelling need,” CUNA wrote to NCUA Thursday. CUNA also noted ways NCUA’s regulatory review could be improved.
CUNA and credit unions saw a historic victory with the signing of S. 2155 last month, but the question remains: when and how will the regulatory relief provisions in the bill become effective?