Attempts to tighten Durbin Amendment regulations would make it increasingly difficult for financial institutions to provide robust core banking services, CUNA and other organizations wrote to the Federal Reserve this week.

The Financial Accounting Standards Board Wednesday agreed to a CUNA-supported update to the current expected credit loss (CECL) standard, eliminating Troubled Debt Restructuring (TDR) accounting requirements for entities upon adoption of CECL.

The Federal Communications Commission (FCC) should require voice service providers to transition to the use of specific codes to notify callers of a blocked call, CUNA and other organizations wrote to the FCC Tuesday. This includes providing a specific date to use the required codes.

The House and Senate are back in session this week. The Senate Banking, Housing and Urban Affairs Committee will hold nomination hearings for several Federal Reserve nominations and other hearings will cover financial barriers and homelessness.

CUNA has updated its Military Lending Act (MLA) credit card fee spreadsheet for the fourth quarter of 2021. A credit union may exclude a bona fide credit card fee from the military annual percentage rate if it is considered “reasonable."

NCUA issued a proposed rule on succession planning and heard briefings on supervisory priorities and the Central Liquidity Facility (CLF) Thursday. The board also finalized a rule on statutory inflation of civil money penalties.

The CFPB issued a request for information Wednesday on fees imposed on consumers by financial services providers. The input received will be used to craft rules, issue industry guidance, and focus supervision and enforcement resources, according to the CFPB. 

Credit unions can get valuable information on changes to the NCUA’s Call Report Form 5300 during an upcoming webinar hosted by the NCUA Feb. 10. Registration is now open. The webinar will begin at 2 p.m. ET and will run for approximately 90 minutes.

CUNA Chief Products and Services Officer Todd Spiczenski and EventsDC Chief Operating Officer Samuel Thomas spoke with CUTimes about the latest safety and health protocols at the 2022 CUNA Governmental Affairs Conference.

CUNA supports the high-level goals of NCUA’s strategic plan and provided suggestions on achieving  them in comments submitted Monday to the agency. NCUA’s draft strategic plan covers goals and objectives for the next five years.