New insights post details regulators’ rulemaking agendas
In a new post on NAFCU’s Compliance, Risk, & BSA Network, Vice President of Regulatory Affairs Ann Petros summarizes the Fall 2022 Rulemaking Agendas from the NCUA, CFPB, Financial Crimes Enforcement Network (FinCEN), and other regulators. Of note, NAFCU detailed the rulemaking agendas in a previous NAFCU Today story.
The post dives into important upcoming items that regulators intend to work on this year, including the:
- NCUA’s proposed fintech rule, which would increase federal credit unions’ flexibility to use the innovation provided by fintechs;
- CFPB’s crackdown on fees and section 1033 personal financial data rights proposed rule; and
- Department of Housing and Urban Development’s (HUD) removal of the London Inter-Bank Offered Rate (LIBOR) as an interest rate index (the NCUA has recently published a supervisory letter for credit unions regarding the transition away from LIBOR).
Check out the post to view the full list of agenda items from regulators. NAFCU will continue to engage these agencies to seek regulatory relief and clear rules of the road for credit unions, as detailed in the association’s 2023 priorities.
NAFCU’s Compliance, Risk, & BSA Network is a complimentary, member-only online community exclusively for credit union compliance professionals. Learn more about the NAFCU Networks.
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Add to Calendar 2023-03-28 14:00:00 2023-03-28 14:00:00 A Deep Dive into FedNow Service Features and 24/7/365 Operations Join part 2 of this FedNow webinar series to deepen your knowledge of FedNow Service features and capabilities to prepare your credit union for 24/7/365 operations. Join Director of FedNow Product Management, Stephanie Miracle, and you’ll explore important operational topics that are top of mind for credit unions including release 1 features, reconcilement, accounting changes, reporting, liquidity management, fraud and risk mitigation, ISO 20022, and how to work with your service provider. Operations, technology and business development staff will find this webinar particularly valuable as they consider tactical next steps to convert to always-on payment operations. Key Takeaways Examine specific FedNow operational topics including reporting, reconcilement, seven-day accounting, liquidity management, ISO 20022 and more. Learn about fraud and risk considerations that are inherent to instant payments, and the Federal Reserve’s fraud mitigation approach and tools. Discover how to best engage with your service provider partners as you embark on your instant payments implementation journey. Register Now Registration is Complimentary, but you must register to view.One registration gives your entire team access to the live webinar and on-demand recording until March 28, 2024.Go to the Online Training Center to access the webinar after purchase » Who Should Attend? Credit union accounting and finance management NCRMs and risk titles NCCOs and compliance 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 About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. 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
A Deep Dive into FedNow Service Features and 24/7/365 Operations
Credits: NCCO, NCRM
Add to Calendar 2023-03-28 14:00:00 2023-03-28 14:00:00 SECURE 2.0: Creating a New Retirement Plan Foundation About the Webinar The SECURE 2.0 Act of 2022 was passed by Congress and signed into law by the President on December 26th 2022. The law contains 92 provisions, many of which are designed to expand retirement savings and coverage and simplify retirement plan rules. A number of these provisions will serve as the foundation for new plan formation among small businesses and may propel overall increased participation and savings rates. This is one of the largest pieces of retirement plan legislation in some time. This legislation has been anticipated for nearly a year, with key features contained in previously proposed bills presented over the last several years. While some of these features are identical to what was previously proposed, others have been modified to some extent in the final version of the law. Watch On Demand Web NAFCU firstname.lastname@example.org America/New_York public
SECURE 2.0: Creating a New Retirement Plan Foundation
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