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NAFCU is the only trade association focused solely on the needs of federal credit unions.
Including Annual Conference in Montreal and our new credit union risk conference.
NCUA Board Member Mark McWatters told NAFCU in a private meeting last
week that he favors having a second public comment period on NCUA’s
risk-based capital proposal.
In what is now the largest retailer data breach known, Home Depot last week announced that 56 million cardholder accounts were compromised between April and September at its stores throughout the U.S. and Canada.
Both the House and Senate wrapped up their current session in Washington Thursday with the passage of a continuing resolution bill funding government operations. Lawmakers are back in their districts preparing for the upcoming fall elections.
In a recent CU Times editorial NAFCU President and CEO Dan Berger says while we all want credit unions to be adequately protected, it's important that any final rule on risk-based capital requirements leave credit unions room to make business decisions with members’ best interests in mind.
Many Bank Secrecy Act (BSA) compliance officers waste valuable time on false positives at the expense of detecting real money laundering cases. By no means is this the fault of the BSA officers; rather, it can be attributed to the general approach of anti–money laundering (AML) rules. The key to understanding AML is knowing the complexities of transactional risks.
NAFCU attended all of NCUA's three listening sessions in Los Angeles on June 26, 2014, Chicago on July 10, 2014 and Alexandria, Va. on July 17, 2014. During each session NCUA Board Chairman Debbie Matz said the agency would reexamine the risk weights in its proposed risk-based capital rule. Matz also said a second comment period for the proposal is unlikely and that the implementation period for any rule would be longer than 18 months.
The time and resources it takes to notify members, reissue cards, and make members whole in instances of fraud is overwhelming. Federal standards must exist for merchants on the safekeeping of financial and personal information, as well as data breach notification.