NAFCU's Steve Van Beek talked to Monday's school attendees
about the CFPB, bylaws and other issues. (Dietsch photos)
March 19, 2013 – A broad look at the legislative and regulatory processes affecting credit unions, credit union-specific rules and laws and the exam process were served up to attendees Monday during NAFCU’s Regulatory Compliance School at National Harbor, Md.
The Regulatory Compliance School is held each year to give credit union compliance staff, and those interested in compliance matters affecting credit unions, a well-rounded look at the source and content of federal rules affecting credit unions and what credit unions need to do to comply.
Monday’s program kicked off with opening remarks by NAFCU President and CEO Fred Becker and Executive Vice President of Government Affairs Dan Berger. It then moved on to a discussion of the legislative and regulatory processes. During that session, Carrie Hunt, NAFCU’s general counsel and vice president of regulatory affairs, discussed key committees in Congress that draft legislation affecting credit union operations, the numerous sources of the federal rules governing those operations and the importance of ensuring policymakers understand their impact.
Hunt also discussed provisions of the Federal Credit Union Act and NCUA’s role in federal regulatory oversight and share insurance.
Steve Van Beek, NAFCU’s director of regulatory compliance, provided an overview of the CFPB’s structure and its role in regulating financial services protections for consumers. He later discussed the federal credit union bylaws, field of membership and other special credit union issues.
NCUA program officer Judy Graham
focused on CAMEL, agency
Judy Graham, an NCUA program officer, instructed school participants on NCUA’s CAMEL rating system and the agency’s supervision tools. (Graham and Kent Marcum, a board member at CinFED FCU, are also the speakers for NAFCU’s webcast today on Bank Secrecy Act compliance; learn more.)
Those attending the Regulatory Compliance School can take exams to be credentialed as NAFCU Certified Compliance Officers; they can also update current certifications. NCCO certification is also available via self-study.