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NAFCU's Regulatory Affairs team updated viewers on recent and potential future rulemakings from financial regulators, including the NCUA and CFPB, during a NAFCU webcast yesterday.

The webcast, "What's New and What's Next with NAFCU's Regulatory Affairs Team," was led by Director of Regulatory Affairs AlexanderMonterrubio, Senior Regulatory Affairs Counsel Michael Emancipator and Regulatory Affairs Counsels Ann Kossachev and Andrew Morris. The Regulatory Affairs team provided viewers with an update on NAFCU's efforts on the regulatory front.

Emancipator went over the NCUA agenda and recent rulemaking since Chairman Rick Metsger was appointed to the chair's post in May. He alsoupdated attendees on NCUA's exam flexibility initiative, call report modernization, plans for addressing interest rate risk and a coming final rule on field of membership. Attendees also learned about NCUA's vision for future cybersecurity exams and ways NAFCU has sought to ease regulatory burden.

Emancipator said NCUA is expected to finalize proposed FOM rule changes this fall.

Kossachev and Morris provided an update on top CFPB issues, including annual privacy notice requirements, mortgage servicing, CFPB's disclosure of confidential supervisory information to other entities, the proposed arbitration rule and the proposed payday lending rule.

Throughout the webcast, Monterrubio gave viewers updates concerning Wells Fargo, NCUA's Oct 27 budget briefing and the Oct. 3 compliance deadline for Military Lending Act rule changes.

The team also touched on the Department of Labor's fiduciary duty rule, FHFA's front-end credit risk transfer initiative, the Telephone Consumer Protection Act and the Federal Financial Institutions Examination Council's cybersecurity assessment tool. NAFCU members can get the association's interactive version of this tool online.

All NAFCU webcasts remain available on demand for a year following the live broadcasts via NAFCU's Online Training Center.