Dec. 4, 2020 NASCUS Report

THIS WEEK: Third member confirmed to NCUA Board; NASCUS makes key recommendations on OTR; Letter backs changes for BSA regs; Summary outlines proposal on consumer records; Advisory opinions policy finalized (and summarized); One of two Fed Board seats filled; UT earns accreditation; TRANSITIONS: in LA, KS; HAVE YOU: CUCampus365’d, Pierre Jay’d?; CUs, watch your email for membership invoices; BRIEFLY: Banking agencies urge stopping LIBOR now

With Hauptman confirmation, NCUA gets full board of ‘Hs’

(Dec. 4, 2020) A new member will be sitting at the next meeting of the NCUA Board when it gathers in about two weeks, thanks to action taken by the…

0 comments

Two key recommendations made in NCUA budget hearing

Dec. 4, 2020) NCUA should reconsider how it allocates expenses to the federal insurance fund for credit unions to pay for agency operations, in order to safeguard balance, equity –…

0 comments

Letter backs changes to BSA recordkeeping, travel rule regs

(Dec. 4, 2020) NASCUS supports making some changes to recordkeeping and travel rule regulations under rules implementing the Bank Secrecy Act (BSA) to promote calibrating the value of anti-money laundering…

0 comments

Summary outlines ANPR on financial records access

(Dec. 4, 2020) The CFPB’s proposal to develop a rule on consumer access to financial records has been summarized by NASCUS and is posted on the website; the summary –…

0 comments

Bureau finalizes advisory opinions policy (summary published)

(Dec. 4, 2020) Credit unions, banks and other entities questioning whether to comply with regulatory requirements can submit a request to the CFPB to clear up any uncertainty, the agency…

0 comments

Another board seat filled – at the Federal Reserve

(Dec. 4, 2020) Following the Senate’s action to fill out the membership of the NCUA Board, on Thursday the Senate filled one of two empty seats on the Federal Reserve…

0 comments

Utah’s regulator latest to earn accreditation

(Dec. 4, 2020) The Utah Department of Financial Institutions (DFI) is the latest state credit union regulator to earn accreditation from NASCUS, the association announced this week. The Utah DFI,…

0 comments

TRANSITIONS: In LA, Ducrest retires; In KS, Hurt begins

(Dec. 4, 2020) John Ducrest, long-time (since 2004) Louisiana commissioner of financial institutions in the state’s Office of Financial Institutions (OFI), has retired, effective Dec. 2.  Among many other contributions to…

0 comments

HAVE YOU … Become acquainted with CU Campus 365?

(Dec. 4, 2020) CU Campus 365 is an alliance between NASCUS and BAI, the industry leader in compliance training, with a history of more than 95 years in the financial services…

0 comments

HAVE YOU … Submitted a nomination for the 2020 Pierre Jay Award?

(Dec. 4, 2020) Nominations for the NASCUS 2020 Pierre Jay Award – which recognizes the individuals, programs or organizations whose contributions have benefited the state credit union system in a significant way –…

0 comments

CUs: Watch your email for ’21 membership dues invoices

(Dec. 4, 2020) NASCUS credit union members will receive their 2021 membership dues via email invoices next week, arriving from the address of officeoftheceo@nascus.org; subject line will be “NASCUS 2021…

0 comments

BRIEFLY: Banking agencies urge stop to LIBOR use now

(Dec. 4, 2020) Banks, “as soon as practicable,” should cease entering into new contracts that employ LIBOR as a reference rate in loan contracts, the three federal banking agencies said…

0 comments

For more information about NASCUS publications, or to obtain permission to reprint a NASCUS publication, please contact NASCUS' Communications Department.