Newsroom

The impact on credit unions of the NCUA's recent closure of the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) and increase in the share insurance fund's normal operating level NOL) headlined a regulatory update provided Thursday during NAFCU's Fall Regulatory Compliance School.

NAFCU Director of Regulatory Affairs Alexander Monterrubio updated students on the NCUA's 2017 priorities and developments. He also discussed the CFPB and current issues, including the bureau's recently finalized payday lending rule. He noted future rulemakings the bureau has outlined, including debt collection and small business lending. Monterrubio also touched on the latest developments within the Trump administration and Congress.

Attendees yesterday also heard presentations on:

• unfair, deceptive, or abusive acts or practices (UDAAP);
• debt collection;
• update on FBI crime enforcement; and
• how to manage fraud and compliance risk.

Today is the final day of School; attendees will review mortgage servicing, information and data security, vendor management and the Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC).

Registration for NAFCU's 2018 Spring Regulatory Compliance School, Mar. 19-23 in Arlington, Va., is now open.