Federal government funding is scheduled to expire Dec. 20, and reports indicate Congress has reached tentative agreement to prevent funding from lapsing. Should no agreement be reached by Dec. 20, the federal government would shut down.
CUNA’s efforts to attract diverse candidates to serve on its Board of Directors was recently covered in CEO Update discussing the Board Recruitment Committee’s efforts to find and encourage candidates to run for a seat on CUNA’s board.
The NCUA board approved a two-year delay on its risk-based capital rule at its Thursday meeting, in addition to approving the agency’s 2020-21 budget. NCUA staff also indicated the NOL will remain at 1.38% for 2020.
NCUA board member Todd Harper requests comment on creating a dedicated consumer compliance exam program for large, complex credit unions. Current exams in credit unions assets of $10 billion or less differs from other financial regulators.
The U.S. District Court for the Western District of Pennsylvania will hold a final approval hearing Nov. 6 for the settlement in the Wendy’s data breach lawsuit. CUNA, state leagues and a number of credit unions are among the plaintiffs in the lawsuit.
The House Financial Services Committee passed a bill Wednesday to require regulators to issue a report describing measures it has taken to strengthen cybersecurity and enhance the Federal Information Security Modernization Act
Credit unions can get valuable information about a range of consumer protection topics on a Nov. 19 webinar hosted by NCUA, including PAL IIs, HMDA review findings, Regulation B and elder financial abuse.
Protecting Americans’ financial and other personal information no matter what entity possesses it is of utmost importance to credit unions, CUNA wrote in support of the Cybersecurity and Financial System Resilience Act (H.R. 4458) Tuesday.
NCUA’s proposed 2020–2021 budget is now available for review and comment. The agency will hold a public budget briefing on Nov. 20, beginning at 10 a.m. (ET), at its Central Office in Alexandria, Va. and CUNA will present at the briefing.
CUNA attended last week’s two-day meeting of the CFPB’s Credit Union Advisory Council, which included a roundtable discussion and a conversation about HMDA. The CUAC consists of representatives from eight CUNA member credit unions.
The House passed the CUNA-supported COUNTER Act (H.R. 2514) by voice vote Monday, a bill that would index the Currency Transaction Report threshold for inflation every five years and further study the impact of Suspicious Activity Reports.
CUNA will be engaged with House consideration of the Coordinating Oversight, Upgrading and Innovating Technology (COUNTER) Act this week. The bill would index the threshold for CTRs with inflation and further study the impact of SARs.