Today: NCUA Board to finalize rule on real estate appraisals, BSA exemption
The NCUA Board today is expected to issue a final rule related to real estate appraisals and consider an exemption under the Bank Secrecy Act's (BSA) customer identification program (CIP). The board, during its first meeting since July, is also set to receive an update on the National Credit Union Share Insurance Fund (NCUSIF) and the Modern Examination and Risk Identification Tool (MERIT).
Both NCUA Board Chairman Rodney Hood and Board Member Todd Harper addressed hundreds of credit union leaders during NAFCU's Virtual Congressional Caucus sharing their perspective on the agency's approach to regulation and priorities amid the coronavirus pandemic.
Real Estate Appraisals
During the April board meeting, the board approved two rules – a final rule raising the real estate appraisal threshold and an interim final rule allowing credit unions to defer the requirement to obtain an appraisal or evaluation.
NAFCU has previously offered recommendations for the NCUA to further support relief, including urging the agency to extend the expiration date of the interim final rule to the first quarter of 2021.
BSA, CIP exemption
The NCUA last month, in conjunction with other federal banking agencies, issued an interagency statement to update their existing guidance on enforcement of required BSA/anti-money laundering (AML) obligations.
BSA/AML compliance is one of the NCUA’s 2020 supervisory priorities and NAFCU's award-winning advocacy team has urged the Senate to advance BSA/AML legislation as the House last year passed NAFCU-supported legislation to reduce the burden of suspicious activity report (SAR) and currency transaction report (CTR) filings.
Following the open meeting, the board will meet privately to discuss a supervisory matter.
Add to Calendar 2020-10-22 14:00:00 2020-10-22 14:00:00 Navigating Mergers and Acquisitions During these uncertain times, credit union mergers are a hard reality to face. We strive to strengthen credit unions with as much support as possible to maintain steady growth and success. While NAFCU does not encourage credit unions to merge, we realize mergers are a part of our industry’s reality. Please join us for a discussion on must-know concepts regarding mergers and other similar transactions, including bank and credit union branch acquisitions. This “101” presentation will focus on key concepts that will let you focus on the opportunities that will work for you, and the strategies that will bring you success. Again, NAFCU does not encourage mergers, but if you are considering one, we want you to be armed with helpful information. Key Takeaways Understand how to identify early whether merger or purchase/sale opportunities will bring material benefits Discuss strategic questions to ask your credit union whether merger is right for you (or how to stay independent) Review how to navigate major un-written rules in the application process Gain knowledge about member votes and communications Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until October 22, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? Chief Executive Officers (CEOs) Executive Vice Presidents (EVPs) Chief Financial Officers (CFOs) Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar NCRMs 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: Understand how to identify early whether merger or purchase/sale opportunities will bring material benefits. Discuss strategic questions to ask your credit union whether merger is right for you (or how to stay independent). Review how to navigate major un-written rules in the application process. Gain knowledge about member votes and communications. 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: Finance – 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 firstname.lastname@example.org America/New_York public
Credits: NCCO, NCRM, CPE
Add to Calendar 2020-10-22 14:00:00 2020-10-22 14:00:00 [INTERVIEW] CU Blueprint for Secure Cloud-First Strategies About the Interview “Moving to the Cloud” can seem like an ambiguous, one-time, heavy-lift project, often leading to misunderstanding and analysis paralysis within credit unions. For your CU to stay competitive, you want to deliver a seamless digital experience that's more than flashy applications. It needs to be built on flexible, secure infrastructure that allows innovation. Join us for this panel discussion and learn practical, proven processes to establish and evolve secure, cloud-first strategies. Hear best practices in communication, talent, and technology, and walk away with a blueprint for your secure credit union transformation. Watch the Interview On-Demand Web NAFCU email@example.com America/New_York public
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