Dec. 23, 2020 NASCUS Report

THIS WEEK: OTR goes up 100 bp, NASCUS comments; Hauptman named vice chairman, taps staffer; Rule outlines disclosures in collection communications; Digital virtual currencies would be tracked; Joint rule on security alerts issued; NASCUS MEMBER UPDATE – 2021 invoices, CU Campus 365, Pierre Jay Awards; BRIEFLY: Waller joints Fed Board; Big banks pass stress test (but no easing on capital); Human trafficking webinar planned; NASCUS Report takes a week off – Happy Holidays!

OTR 2021 increase a sign for agency to reconsider expense allocation, Ito says

(Dec. 23, 2020) A 2021 budget of $341.4 million – with an overhead transfer rate (OTR) of 62.3% — was approved by the NCUA Board on a split vote of…

Hauptman now vice chairman; names top adviser

(Dec. 23, 2020) A new title has been bestowed on the newest member of the three-member board for the NCUA, who is now “vice chairman,” according to a release from…

Rule outlines ‘detailed disclosures’ in collection communications

(Dec. 23, 2020) Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers…

Proposal would track virtual currency transactions

(Dec. 23, 2020) New requirements for certain transactions involving convertible virtual currency (CVD) or digital assets with legal tender (LTDA) status were proposed by the Treasury’s financial crimes arm today,…

Bank regulators issue joint rule on security alerts

(Dec. 23, 2020) All three federal banking agencies late last week jointly released a proposal requiring banks and banking organizations they supervise to promptly notify their primary federal regulator in…

NASCUS MEMBER UPDATE: Invoices on way; NASCUS 365 in full swing; Last call for Pierre Jay Award nominations

(Dec. 23, 2020) NASCUS 2021 membership invoices NASCUS credit union and associate members were sent their 2021 membership renewal invoices Tuesday from info@nascus.org. Please contact NASCUS member relations staff if…

BRIEFLY: Waller joins Fed Board (nothing more yet on Shelton); Big banks pass stress test (but get no relief on capital); NCUA plans human trafficking webinar; NASCUS Report takes a break next week (see you again Jan. 8); Happy Holidays – and have a terrific New Year!

(Dec. 23, 2020) The Federal Reserve Board now has six (out of a total seven) members, as newest Gov. Christopher Waller joined the board after taking his oath of office…

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