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Credit union viewers of NAFCU's webcast yesterday learned about current and planned NCUA and CFPB rules and guidance from the association's regulatory affairs team.

The webcast, "Regulatory Affairs Department: Update from Washington," was led by NAFCU Director of Regulatory Affairs Alicia Nealon, Senior Regulatory Affairs Counsel Michael Emancipator, and Regulatory Affairs Counsels Alexander Monterrubio and Kavitha Subramanian.

Yesterday's webcast gave details on the top areas of NCUA's supervisory focus for 2016, including cybersecurity assessments and CUSO reporting. It also addressed the NCUA Board's vote this month to publish and seek comments on the overhead transfer rate and operating fee methodologies behind the agency's budget. Credit unions have until April 26 to send NCUA comments.

NCUA's final risk-based capital rule, which takes effect Jan. 1, 2019, was highlighted. "We are committed to doing everything we can at the agency and on the Hill to achieve a fair risk-based capital regime for credit unions," said Nealon.

The webcast also went over NCUA's recent proposed rules, including its field-of-membership proposal. Comments on the proposal are due to NCUA Feb. 8. Also discussed was the agency's member business lending proposal, which is expected to become a final rule in the first quarter of this year.

Also covered were CFPB's recent rulemakings, including its final rule amending Regulation C to implement Dodd-Frank amendments to the Home Mortgage Disclosure Act. The bureau's proposed rules on mortgage servicing and prepaid accounts and possible rulemakings on payday lending and overdraft were also discussed.

The regulatory team also discussed the evolving future of payment systems.

The webcast will be available on demand through NAFCU's Online Training Center for one year.