Newsroom
NAFCU, CUs meet with Warren
NAFCU Chair Mike Lussier (left, with ElizabethWarren) was joined by NAFCU PresidentBecker and senior staff, member CU representatives in meeting at Treasury.
|
Feb. 17, 2011 – Leaders from NAFCU and several member credit unions met Wednesday with Elizabeth Warren, the administration's point person on the Consumer Financial Protection Bureau, to discuss industry concerns.
"We welcome the opportunity to present credit union issues from a variety of perspectives," said NAFCU President Fred Becker. "As the CFPB continues to evolve, we appreciate being part of the ongoing dialogue."
The CFPB is holding a conference at Treasury headquarters next Tuesday on credit card practices; the conference falls on the one-year anniversary of the signing of the Credit Card Accountability, Responsibility and Disclosure Act. The bureau meanwhile is set to assume its full regulatory authority over consumer financial services activities July 21.
NAFCU, the only credit union trade that opposed placing credit unions under CFPB oversight, has been in regular communications with Warren, Treasury Secretary Tim Geithner and other administration officials in an effort to mitigate the impact of the CFPB's regulatory activities on credit unions.
The CFPB has direct examination and enforcement authority over depository institutions with more than $10 billion in assets. That captures only the three largest credit unions, but this threshold is not indexed for inflation, so other credit unions can be expected to come under this area of CFPB activity in the future.
Becker and NAFCU Chair Mike Lussier of Webster First FCU participated in Wednesday's meeting, along with Jan Roche, president and CEO of State Department FCU; Lee Fogle, CEO of Duke University FCU; Alfred Scipio, president of Treasury Department FCU; and Dawn Donovan, president and CEO of Price Chopper Employees FCU.
NAFCU Executive Vice President of Government Affairs Dan Berger, General Counsel and Vice President of Regulatory Affairs Carrie Hunt and Vice President of Regulatory Compliance Anthony Demangone also attended.
Share This
Related Resources
Add to Calendar 2024-04-23 14:00:00 2024-04-23 14:00:00 Monitoring the Latest Litigation Risks Credit unions’ operations pose litigation risks, with more of these cases being filed as class action lawsuits. In this Monitoring the Latest Litigation Risks for Credit Unions webinar, you’ll review some of the specific kinds of lawsuits impacting credit unions and what potential claims could be on the horizon. You’ll also examine some options for mitigating risks. Key Takeaways Review the current lawsuit trends. Understand the potential claims risks Explore options for mitigating risks. Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 23, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCRMs will recieve 1.0 CEUs for participating in this webinar NCCOs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Monitoring the Latest Litigation Risks
Credits: NCCO, NCRM
Webinar
Resiliency In Your Incident Response Plan
Cybersecurity
preferred partner
DefenseStorm
Blog Post
The Bottom Line on Insurance Tracking and Collateral Protection
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-04-15 09:00:00 2024-04-15 09:00:00 Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs Listen On: Key Takeaways: [03:50] With the merger of a smaller credit union into a larger one you are really only dealing with integrating staff into the larger credit union. [05:53] When working with a merger of equals we start with a deep dive into the executive compensation and benefits of each organization. [09:09] If your current executive benefits provider doesn’t conduct regular plan evaluations, consider having a plan audit anyway. [13:46] Don’t overpay for these things if you don’t have to. When you have more options available that means the cost is more appropriate. [17:11] It is in a unified organization’s best interest to do tier timelines where we look at your top executives who are critical to the unified organization’s success today and then slowly add in the next levels. Web NAFCU digital@nafcu.org America/New_York public
Mergers and Acquisitions: Unifying Two Different Executive Total Compensation and Benefits Programs
preferred partner
Gallagher
Podcast
Get daily updates.
Subscribe to NAFCU today.