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.
Hosted by CUNA Technology Council and CUNA Operations, Sales and Service Council, the CUNA CIO/COO forum brings together credit union executives to explore the major trends and issues affecting their roles.
CUNA President/CEO Jim Nussle appeared on CNBC's Closing Bell Thursday afternoon to discuss the introduction of budget materials from the administration of President Donald Trump. Nussle served as director of the OMB from 2007 2009.
The New Mexico state legislature passed a credit union-supported data breach notification bill Wednesday night. The Data Breach Notification Act passed unanimously, and requires affected parties to be notified within 30 days if there is a risk of fraud.
A bill with multiple pro-credit union provisions to help improve operations and alleviate compliance burdens passed the Georgia State Senate Thursday, and will now head to Gov. Nathan Deal for consideration. The bill is a legislative priority for the GCUA.
The DOL should delay its fiduciary rule by at least 180 days, CUNA wrote Thursday, also calling for additional efforts and research to ensure that credit union members are not harmed by broad regulations.
The Federal Open Market Committee decided Wednesday to raise the federal funds interest rate range to 0.75% to 1%. CUNA Senior Economist Perc Pineda says the action was expected, and CUNA anticipates similar actions later this year.
CUNA has officially launched the CUNA Small Credit Union Community, an online platform that will allow small credit union professionals nationwide to network, share ideas, and solve problems collectively.
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.