CUNA hopes NCUA works to implement the recommendations released this week in a report from FFIEC agencies, part of a review of the agencies’ rules. The NCUA was not required to participate, but did so voluntarily.
The World Council of Credit Unions asked the Financial Action Task Force this week for clearer guidance on AML/CFT rules in order to reduce regulatory burdens. The FATF is the global standard setting body for AML/CFT rules.
The Financial Services Information Sharing and Analysis Center has named Heather McCalman its credit union council manager. CUNA, a member of FS-ISAC, has urged the security-minded organization to increase services for credit unions.
CUNA has written in support of a bill that would exempt financial institutions with under $50 billion in assets from CFPB rulemakings. Rep. Roger Williams (R-Texas) introduced the bill, and CUNA President/CEO Jim Nussle thanked him Monday.
Last week’s CUNA Governmental Affairs Conference brought 5,000 credit union leaders to Washington, D.C. During one of the breakout sessions, NCUA staff outlined where the agency is at regarding extending the examination cycle.
On CNBC Wednesday, CUNA President/CEO Jim Nussle continued to spread the message he’s been sending to attendees at CUNA’s Governmental Affairs Conference all week: Use the power of your voice to make an impact.
The discussion boards on CUNA’s Compliance Community featured an interesting discussion last week: what is the difference between the terms “share draft” and “checking account”? The correct use is important since credit unions pay dividends, not interest.