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NAFCU Director of Regulatory Compliance Brandy Bruyere joined Regulatory Compliance Counsels Ben Litchfield and Shereefat Balogun in a webcast Thursday that provided credit unions an overview of the newest regulations, guidance and upcoming changes affecting them.

The group offered an update for regulations and proposed rules from NCUA, CFPB and other regulators including the Defense Department, the Financial Crimes Enforcement Network, the Department of Labor, and NACHA – The Electronic Payments Association.

Litchfield covered topics including NCUA's IOLTA rule, field of membership proposal and the Department of Labor's fiduciary duty rule. Balogun discussed incentive-based compensation, FinCEN's customer due diligence rule and same-day ACH payments, among other topics. Bruyere talked about member business lending and CFPB's and NCUA's spring agendas and her expectations for upcoming regulation.

"NCUA just released the spring 2016 rulemaking agenda this morning, which includes the field of membership review," Bruyere said. "They're going to look at designation of low-income credit union status, so we should see a proposal on that sometime in October, the idea being to streamline and make that process easier."

Bruyere also noted that dates are tentative and some items tentatively slated for December might remain "on the backburner" longer.

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