NAFCU’s Berger, NCUA’s Harper discuss ways to bolster CU success
NAFCU President and CEO Dan Berger met with NCUA Chairman Todd Harper Wednesday at the agency’s headquarters in Alexandria, Va., to discuss credit union priorities, including several of NAFCU’s recent requests to the agency.
NAFCU Senior Vice President of Government Affairs Greg Mesack, Vice President of Regulatory Affairs Ann Petros, and Regulatory Affairs Counsel James Akin were also in attendance at the meeting.
During the meeting, NAFCU reiterated its request for NCUA to raise the permissible interest rate ceiling to mitigate unnecessary interest rate risks facing federal credit unions. NAFCU also urged the agency to establish a floating permissible interest rate ceiling equal to a 15 percent spread over the prime rate or alternatively extend the 18 percent permissible interest rate ceiling for the maximum allowable period of 18 months, no fewer than 90 days before its scheduled expiration on March 10, 2023.
The group also discussed ways to help credit unions better serve their members by adopting lessons learned from the pandemic. NCUA last month issued a Letter to Federal Credit Unions which contained NAFCU-sought flexibility around virtual and hybrid annual meetings. Relatedly, the group discussed amending regulations in Part 701.36 on federal credit union occupancy to grant additional flexibility to credit unions.
NAFCU and NCUA also discussed field of membership (FOM) rules regarding survivorship. NAFCU wrote to the agency last year to urge the agency to initiate a rulemaking to expand its Chartering and FOM Manual to include all “immediate family” in the event of a credit union member’s passing.
Of note, the group discussed loan participation requirements and commercial loan thresholds. NAFCU recently asked the NCUA to amend its definition of a commercial loan and raise the current threshold for net aggregate business loans excluded from the definition of a commercial loan from its current threshold of $50,000 to $250,000.
In addition, NAFCU reiterated its request to amend the definition of “qualified charity” in part 721.3 of the agency’s regulations to include 501(c)(19) veterans’ organizations.
As the federal regulator for credit unions, NAFCU regularly meets and engages with the NCUA to ensure credit unions have the tools to succeed and best serve their 134 million members.
Add to Calendar 2023-12-07 14:00:00 2023-12-07 14:00:00 BSA Back to Basics: CTR and SAR Filings From identifying when Bank Secrecy Act (BSA) regulations require filing a currency transaction report (CTR) and suspicious activity report (SAR) to learning how to tactically complete those forms, in this back-to-basics webinar, you’ll evaluate how to apply BSA requirements to transactions to determine when filings are required and how to complete the forms associated with those filings. Key Takeaways Learn the basics of BSA/AML regulations for CTR and SAR filing requirements Understand how to implement BSA/AML regulations at your organization to detect transactions that require a CTR and/or SAR Discover how to use the CTR and SAR forms in FinCEN’s BSA E-Filing system Receive a step-by-step walkthrough of completing CTR and SAR forms. 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 December 7, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCBSOs NCCOs NCRMs BSA, compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar NCBSOs will recieve 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information (Note: Webinars must be attended when aired to receive CPE credits.) Reviewer: Josie Collins, Senior Associate Director of Education, NAFCU Learning Objectives: See key takeaways Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.0 credits Recommended Field of Study: Reguatory Ethics – Technical About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, DC. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCCO, NCRM, NCBSO, CPE
Add to Calendar 2023-12-07 14:00:00 2023-12-07 14:00:00 Breaking Down Silos: Collaborating to Combat Cyber Fraud About the Webinar With the rapidly evolving threat landscape, it is clear that operating in isolation is no longer a viable strategy for effective and proactive cyber risk management. The challenges presented by cyber threats demand a concerted effort within your credit union to break down silos and collaborate effectively. Your credit union’s information security and fraud teams must work together to develop a comprehensive and cohesive approach to managing cyber risks. In this session, we will explore how to leverage expertise and tools to be proactive in your fraud detection. Join DefenseStorm’s resident Fraud Geek and senior product manager, Adam Barrett where we will delve into how your credit union can: Evaluate edge data to better identify fraudsters hiding behind VPNs Cultivate effective relationships to combat fraud Efficiently engage with your red team Open up the dialogue around pain points or blind spots to improve your ability to stop cyber fraud Register Here Web NAFCU firstname.lastname@example.org America/New_York public
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