Regulatory Reform Task Force reports to NCUA

The NCUA board will hear recommendations from the agency’s Regulatory Reform Task Force at its Dec. 13 meeting. Scheduled for 10 a.m. ET, the meeting is the board’s final of 2018 and will be streamed live at NCUA released a list of potential reforms in August 2017, and CUNA thanked NCUA for its approach and suggested additional reforms in its […]

NCUA requests diversity assessment by Dec. 31

The NCUA encourages federally insured credit unions, especially those with 100 or more employees, to conduct and submit the annual Voluntary Credit Union Diversity Self-Assessment to the NCUA’s Office of Minority and Women Inclusion before Dec. 31. The NCUA recommends the self-assessment as a source of diversity best practices and as a tool to assess […]

Washington Wire – Dec. 4, 2018

According to the Washington Wire this week, due to President George H.W. Bush’s passing Friday night, the Congressional schedule is very likely to change, and both the House and Senate are in session this week. With government funding expiring on Friday at midnight, the Congress is expected to focus most of its energy on reaching […]

Infosight Spotlight: Proposed amendments to Regulation CC

The Federal Reserve Board and Bureau of Consumer Financial Protection have jointly announced proposed amendments to Regulation CC (12 CFR part 229) that would implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers. The amendments would apply in circumstances ranging from next business day withdrawal of […]

Credit unions voice difficulties with BSA/AML compliance to Senate

On Nov. 29, the Senate Banking Committee held a hearing to discuss legislative reform in combating money laundering and other forms of illicit finance. Credit Union National Association (CUNA) wrote to Senate leadership to spotlight the difficulties credit unions face to comply with Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) requirements. CUNA supports efforts to track money laundering and […]

Fed, BCFP propose changes to Reg. CC

The Federal Reserve and Bureau of Consumer Financial Protection jointly issued a proposal last week that would make changes to Regulation CC, which implements the Expedited Funds Availability (EFA) Act. The proposal also provides an additional opportunity for public comment on certain amendments to Regulation CC that the board proposed in 2011. Specifically, the agencies are proposing […]