Real estate appraisals, second chance initiative on NCUA agenda
The NCUA Board Thursday is set to issue a proposed rule on residential real estate appraisals and a final rule that would allow credit unions to more easily hire job candidates with minor criminal records. The board will also receive a briefing on the National Credit Union Share Insurance Fund (NCUSIF) quarterly report.
The board will also meet Wednesday for a briefing on the agency's proposed 2020-2021 budget. NAFCU Chief Economist and Vice President of Research Curt Long will testify on the budget proposal during the meeting; the association will also submit comments, which are due Dec. 2.
Real estate appraisals
Earlier this year, three federal banking agencies issued a joint final rule increasing the threshold for residential real estate appraisals to $400,000. The NCUA's proposed rule is expected to increase the threshold for credit unions as well, and could provide parity with banks.
The NCUA in July finalized a NAFCU-supported rule to increase commercial real estate appraisals from $250,000 to $1 million for non-residential, rural real-estate-related financial transactions. NAFCU said the increased threshold would address appraiser capacity issues in smaller markets.
Real estate appraisals were among the top regulatory issues NAFCU recommended the NCUA Board consider this year, in order to address appraiser capacity issues and provide credit unions with relief.
Second Chance Interpretive Ruling and Policy Statement (IRPS)
NAFCU has previously shared its support for the NCUA's proposed IRPS focusing on a section of the Federal Credit Union Act that prohibits credit unions from hiring candidates that have been convicted of certain criminal offenses without NCUA Board consent.
Under the proposed rule, current de minimis and conviction exceptions would be expanded to include additional offenses and implement a new age-based exception to the filing requirement. The rule also considers whether the NCUA should delegate responsibility of reviewing certain applications to streamline the application process, among other things.
The board will also receive an update on the NCUSIF. In May, more than 5,5000 credit unions received $160.1 million in equity distributions from the NCUSIF. This followed the agency's reporting of an equity ratio of 1.39 percent at the end of 2018, which was above the board-approved normal operating level (NOL) of 1.38 percent. NAFCU continues to advocate that the NOL be reset to 1.3 percent so credit unions can realize the fullest distribution possible.
NAFCU will attend next week's meeting and update credit unions via NAFCU Today. The board will next meet Dec. 12 for its final meeting of the year; view the 2020 meeting dates.
Add to Calendar 2020-07-09 14:00:00 2020-07-09 14:00:00 Cannabis Banking Issues The cannabis industry continues to pose a fascinating mix of competing opportunities and risks – particularly from an anti-money laundering (AML) perspective. Changing societal opinions and business opportunities can conflict with daunting legal landscapes and a spectrum of potential risks. Navigating the AML risks can be particularly difficult. Key Takeaways Review the current status of cannabis and hemp laws: the state vs. federal regimes Discuss recent enforcement actions involving cannabis Understand how to manage the specific AML risks presented to credit unions Walk through possible legislative reform for cannabis and financial services Register Now For On-Demand Access$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until July 9, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Compliance staff Risk staff Audit staff Legal staff Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar. NCRMs will receive 1.5 CEUs for participating in this webinar. NCBSOs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Review the current status of cannabis and hemp laws: the state vs. federal regimes. Discuss recent enforcement actions involving cannabis. Understand how to manage the specific AML risks presented to credit unions. Walk through possible legislative reform for cannabis and financial services. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics - Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. 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
Credits: NCCO, NCRM, NCBSO, CPE
Add to Calendar 2020-07-08 11:00:00 2020-07-08 11:00:00 NAFCU Roadshow: Issues Facing Wisconsin & Illinois Credit Unions During COVID-19 Please join us on Wednesday, July 8 at 11:00 a.m. ET (1:00 p.m. CST) as we host a special webinar for Wisconsin and Illinois-based credit unions. During the webinar, NAFCU President and CEO Dan Berger will discuss what credit unions should expect in the coming months amid the COVID-19 pandemic and what NAFCU is doing to help credit unions during this difficult time. COVID-19 isn’t stopping NAFCU from what we do best; engaging with credit unions. Key Takeaways Review the Small Business Administration’s Paycheck Protection Program; Discuss regulatory relief; Learn more about what’s happening on your behalf in meetings with the NCUA and CFPB; Walk through market specific performance trends; And more! Note: The information in this webinar is tailored to Wisconsin and Illinois-based credit unions. Register Now For On-Demand AccessRegistration is complimentary, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until July 8, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? Wisconsin and Illinois-based credit unions Education Credits This webinar doesn't qualify for any continuing education credits recognized by NAFCU or NASBA. 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 firstname.lastname@example.org America/New_York public
Program underwritten by Franklin Madison
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