Complementary Webinar
The 5th Circuit’s Decision on the CFPB’s Funding: What Does it Mean for the Bureau and are there Implications for NCUA and other Federal Agencies?
Join us in a discussion with our friends from the Manatt, Phelps & Phillips law firm about the implications of the 5th Circuit Court of Appeals decision in Community Financial Services Association of America v. Consumer Financial Protection Bureau, ruling that the CFPB’s independent funding structure is unconstitutional.
During this live webinar, we will walk through what was at issue in the case, what the court actually said, and what it means for the CFPB now.
We will also discuss the broader implications of the court’s ruling concerning the future of the CFPB and the scope of its delegated authority, and what the ruling could mean for other agencies, such as the NCUA, that also do not go through the Congressional appropriations process.
Guest speakers include:
- Scott Pearson, Partner, Manatt, Phelps & Phillips
- Bryan Schneider, Partner, Manatt, Phelps & Phillips
- Mehul Madia, Counsel, Manatt, Phelps & Phillips
Registration is unlimited. This webinar is free of charge.
For more background, see this article from the attorneys at Manatt:
https://www.manatt.com/insights/newsletters/financial-services-law/lights-out-fifth-circuit-finds-cfpbs-funding-mech
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The Federal Financial Institutions Examination Council (FFIEC) is offering a new Industry Outreach webinar on Friday, November 18, 2022, that focuses on multifactor authentication. The event sponsored by the FFIEC Task Force on Supervision–Cybersecurity and Critical Infrastructure Working Group. The FFIEC Industry Outreach is an alternative delivery program that provides timely updates on changes in supervisory guidance or regulations and information on current issues in the financial industry. The target audience for the FFIEC Industry Outreach program includes representatives from financial institutions, trade associations, third party providers, and consultants.
Federal and state financial institution examiners are also welcome to participate in FFIEC Industry Outreach programs. Participants can view PowerPoint slides and listen to the presentations via computer or phone.
Date: November 18, 2022
Time: 1:00 pm – 2:00 pm EST
Registration Information
If you are unable to hear the audio portion of the event via the link above, the following number can be used as a backup:
Dial-in: 888-251-2949 or 215-861-0694
Access Code: 4342711#
If the automated recording indicates the conference is full, please use overflow information:
Dial-in: 888-251-2949 or 215-861-0694
Access Code: 6920265#
Disclaimer: Use of these materials by participants, including video and audio recording of this presentation, is strictly prohibited except by written permission of the FFIEC or its members. The views expressed in this presentation are individual views, intended for informational purposes, and are not formal opinions of, nor binding on, the FFIEC or its members.
NASCUS’s Credit Union and Regulator Engagement (CURE) meeting is an open forum for credit unions with $4 to $10 billion in assets to collaborate with state regulators and industry experts on issues facing the state system.
This two-day virtual meeting will take place on
- Monday, November 28, 2022: 1:00 – 3:30 pm
- Tuesday, November 29, 2022: 1:00 – 4:00 pm
*All times are EST.
This meeting is a peer-based exchange of ideas, perspectives, and best practices around topics such as
- Internal controls and fraud trends
- State and federal perspectives on the future of regulation and supervision, with the NCUA
- Litigation trends
- Upcoming issues and priorities
- Roundtable discussions and more
The CURE is a collaborative event sponsored by the NASCUS Dual Charter Resources Initiative (DCRI). The DCRI is a partnership between the state system and key organizations within the credit union system committed to strengthening the state credit union charter by pursuing progressive legislation and regulation, building relationships to foster charter innovation, guarding against unnecessary federal pre-emption and expanding awareness of options available to state-chartered credit unions.
NASCUS’s Credit Union and Regulator Engagement (CURE) meeting is an open forum for credit unions with $4 to $10 billion in assets to collaborate with state regulators and industry experts on issues facing the state system.
This two-day virtual meeting will take place on
- Monday, November 28, 2022: 1:00 – 3:30 pm
- Tuesday, November 29, 2022: 1:00 – 4:00 pm
*All times are EST.
This meeting is a peer-based exchange of ideas, perspectives, and best practices around topics such as
- Internal controls and fraud trends
- State and federal perspectives on the future of regulation and supervision, with the NCUA
- Litigation trends
- Upcoming issues and priorities
- Roundtable discussions and more
The CURE is a collaborative event sponsored by the NASCUS Dual Charter Resources Initiative (DCRI). The DCRI is a partnership between the state system and key organizations within the credit union system committed to strengthening the state credit union charter by pursuing progressive legislation and regulation, building relationships to foster charter innovation, guarding against unnecessary federal pre-emption and expanding awareness of options available to state-chartered credit unions.
The National Association of State Credit Union Supervisors (NASCUS), in conjunction with Sheila Balzer, is pleased to offer a webinar series devoted to Current Expected Credit Losses (CECL).
Join us for two 60-minute sessions on November 30 and December 1, 2022.
CECL: Basic Session
November 30, 2022, 2:00 pm – 3:00 pm EST
Speaker: Sheila Balzer
Description: Session will cover basic requirements and considerations under CECL methodology. Discussion of key controls that should be in place regarding the estimate.
CECL: Advanced Session
December 1, 2022, 2:00 pm – 3:00 pm EST
Speaker: Sheila Balzer
Description: Session will cover unique issues and difficulties for CECL adopters as implementation is near. Discussion of how CECL will impact 2023 audits and examinations. What should I be doing after implementation?
Sheila Balzer is an assurance partner with SingerLewak in Denver, Colorado. She specializes in working with credit unions, non-profit organizations, and employee benefit plans. She is a recognized expert and frequent presenter to volunteers and employees of credit unions on financial literacy. Sheila is a Magna Cum Laude graduate of the University of Denver and holds Bachelor of Science and Masters’ degrees in Accountancy. Her professional and civic activities include serving as a member of the Board of Directors of the AICPA, past member of the Accounting and Review Services Committee (standard setting body), past Chair of the Colorado Society of Certified Public Accountants, Board Member of the Colorado Society of Certified Public Accountants, Past Chair of the Colorado Society of Certified Public Accountants Educational Foundation, AICPA Council member, and chairing the Chatfield Senior High and Columbine High School Business Advisory Committee. Sheila was selected as one of six Women to Watch in the accounting profession in Colorado in 2012.
The National Association of State Credit Union Supervisors (NASCUS), in conjunction with Sheila Balzer, is pleased to offer a webinar series devoted to Current Expected Credit Losses (CECL).
Join us for two 60-minute sessions on November 30 and December 1, 2022.
CECL: Basic Session
November 30, 2022, 2:00 pm – 3:00 pm EST
Speaker: Sheila Balzer
Description: Session will cover basic requirements and considerations under CECL methodology. Discussion of key controls that should be in place regarding the estimate.
CECL: Advanced Session
December 1, 2022, 2:00 pm – 3:00 pm EST
Speaker: Sheila Balzer
Description: Session will cover unique issues and difficulties for CECL adopters as implementation is near. Discussion of how CECL will impact 2023 audits and examinations. What should I be doing after implementation?
Sheila Balzer is an assurance partner with SingerLewak in Denver, Colorado. She specializes in working with credit unions, non-profit organizations, and employee benefit plans. She is a recognized expert and frequent presenter to volunteers and employees of credit unions on financial literacy. Sheila is a Magna Cum Laude graduate of the University of Denver and holds Bachelor of Science and Masters’ degrees in Accountancy. Her professional and civic activities include serving as a member of the Board of Directors of the AICPA, past member of the Accounting and Review Services Committee (standard setting body), past Chair of the Colorado Society of Certified Public Accountants, Board Member of the Colorado Society of Certified Public Accountants, Past Chair of the Colorado Society of Certified Public Accountants Educational Foundation, AICPA Council member, and chairing the Chatfield Senior High and Columbine High School Business Advisory Committee. Sheila was selected as one of six Women to Watch in the accounting profession in Colorado in 2012.
All-In on DEI & ACCESS
Join us November 2-4, 2022, for the NCUA’S third summit focused on DEI. The theme of this year’s event is All-In on DEI & ACCESS. ACCESS represents NCUA’s initiative for Advancing Communities through Credit, Education, Stability and Support.
Click here to register and for more information.
This two-and-a-half day, hybrid event will bring together professionals from credit unions and other stakeholders to:
- promote the value proposition of diversity, equity, and inclusion;
- share DEI and financial inclusion best practices; and
- develop solutions to industry-specific challenges.
The Summit will include panel discussions with experts in diversity, equity, and inclusion along with fireside chats, roundtables, and keynote speakers. Session topics cover a wide range of DEI-related areas like how to build a successful DEI program; including programs for the LGBTQ+ and disability communities; cryptocurrency and the unbanked; digital access; and inclusive lending. Speakers include NCUA Chairman Todd M. Harper, Vice Chairman Kyle Hauptman, and Board Member Rodney E. Hood.
“Diversity, equity, and inclusion are vital to strategy, sustainable growth, innovation, talent acquisition, and retention throughout the financial services system. To help credit unions advance DEI, the 2022 Summit will bring together prominent speakers to share their thought leadership on DEI. This year, we will also have a special track designed to support credit unions designated as minority depository institutions. Whether you are a DEI advocate or an MDI credit union, or both, this event is a can’t miss opportunity.”
— Todd M. Harper, Chairman
Notice of Proposed Rulemaking and Request for Comment
NCUA: Subordinated Debt
Read NASCUS Legislative and Regulatory Affairs Department Summary Here
October 5, 2022
At the September 22, 2022, NCUA Board meeting, the Board approved for comment a proposed rule that would amend the Subordinated Debt rule (the Current Rule), which the Board finalized in December 2020 with an effective date of January 1, 2022. The proposal would make two changes related to the maturity of Subordinated Debt Notes and Grandfathered Secondary Capital (GSC).
The proposed rule also includes four other minor modifications to the current subordinated debt rule. The proposed rule in its entirety can be found here. Comments are due December 5, 2022.
Agency Accepting Comments and Budget Briefing Presentation Requests
Sept. 29, 2022 — The National Credit Union Administration’s staff draft budget for 2023–2024 is now available on the agency’s website for review and comment. The staff draft budget has also been submitted for publication in the Federal Register, and the comment period is open until October 28, 2022.
The proposed combined 2023 staff draft budget is $367.0 million, or 8.1 percent higher than the 2022 budget. The proposed operating budget is $350.8 million, which is 9.6 percent higher than in 2022. The proposed 2023 capital budget is $11.2 million, or 14.1 percent lower than in 2022. The proposed Share Insurance Fund administrative budget is $4.9 million, or 21.5 percent lower than in 2022. The proposed budget summary and detailed budget justifications can be found on the Budget and Supplementary Materials page on NCUA.gov.
The agency will hold a public budget briefing at its Central Office on Wednesday, October 19, 2022, beginning at 10 a.m. Eastern. The meeting will be livestreamed on NCUA.gov.
To Comment on the Proposed Budget:
- Submit comments on Docket # NCUA-2022-0145 at the Federal eRulemaking Portal by October 28, 2022.
- Comments should provide specific, actionable recommendations.
To Request an In-Person Presentation at the October 19 Budget Briefing:
- Email your request to [email protected] by October 12, 2022.
- Include the presenter’s name, title, affiliation, mailing address, email address, and telephone number.
- The Board Secretary will notify approved presenters and give them their allotted presentation times.
For those approved to present at the budget briefing, written statements and presentations must be sent to [email protected] by 5 p.m. Eastern on October 14, 2022. In addition to delivering remarks at the budget briefing, registered presenters will have the opportunity to pose questions about the budget to NCUA staff.
The Board will consider a final budget at an open meeting later this year.
GoWest Credit Union Association
The league representing credit unions in Arizona, Colorado, Idaho, Oregon, Washington and Wyoming will hold its annual convention, MAXX, at the Spokane Convention Center in Spokane, Wash., Oct. 25-27.
Discover a big bright future
REGISTER |
EVENT DETAILS |
What will the future hold for credit unions? When the dark clouds roll in, how can credit union leaders see ahead through uncertainty and turn risk into opportunity?
At Filene’s signature event – big.bright.minds. – we’re bringing all six of Filene’s Fellows and other leading experts to the mile-high city for a culmination of the year’s most actionable research and a clear look into how it can support you in leading your credit union through uncertain times.
Day One – October 25
| 9:00 AM (MDT) | Opening Session |
| 9:15 AM (MDT) | Leading Organizations Through Uncertainty Samantha Paxson, CO-OP Solutions |
| 10:30 AM (MDT) | Creating Employee Wellbeing & Engagement Quinetta Roberson, Filene Fellow |
| 11:15 AM (MDT) | Building a Hybrid Culture that Thrives Sekou Bermiss, UNC at Chapel Hill Doug Leighton, Tahoma Advisors |
| 1:00 PM (MDT) | Collaborating Through Challenges Mai Thi Nguyen, Filene Fellow |
| 1:45 PM (MDT) | Filene Day Aways In-Person Only |
| 4:30 PM (MDT) | i3 Science Fair In-Person Only |
Day Two – October 26
| 9:00 AM (MDT) | Welcome Back! |
| 9:15 AM (MDT) | Innovating to Meet Emerging Market Needs Jeffrey Robinson, Filene Fellow Lisa Servon, Filene Fellow |
| 10:45 AM (MDT) | Looking Ahead with Filene Paul Dionne, Filene Josh Sledge, Filene |
| 11:15 AM (MDT) | Innovators in Action Filene’s i3 Program |
| 1:00 PM (MDT) | Differentiation in the Digital Space Bill Maurer, Filene Fellow |
| 2:00 PM (MDT) | Leveraging Data for Growth Cheri Speier-Pero, Filene Fellow |
| 2:45 PM (MDT) | Activating your big.bright.mind. Filene Fellows |
| 6:00 PM (MDT) | Filene Merrymaking In-person Only |
Get a view above the clouds and join Filene to engage with leading minds inside and outside the credit union industry.
NASCUS works with state regulatory agencies to explore ways to improve not just the state credit union systems regulatory environment, but its supervisory environment. These meetings are designed to bring regulators together to tackle issues and share best practices in an open forum.
These meetings help state regulators collaborate and enhance their efficiencies, which benefits the state agencies as well as the credit union regulatory system.
This meeting is by invitation only.
NASCUS Staff Liaisons:
John J. Kolhoff, NASCUS Senior Vice President of Policy and Supervision
Sarah Stevenson, NASCUS of Regulatory Affairs