This week: Congress returns, NAFCU survey responses due
Members of Congress return to Washington this week where they will hold multiple hearings of interest to the credit union industry. The House is also scheduled to consider the FY 2023 National Defense Authorization Act on the House floor this week. NAFCU has been vigilant in opposing any amendments that could alter the lease status for financial institutions on military bases. The House Rules Committee will meet at noon tomorrow to consider a number of potential amendments that could be considered on the floor for the bill, including the NAFCU-backed SAFE Banking Act, the SECURE Act, and language to extend CARES Act changes to NCUA’s Central Liquidity Facility (CLF) among others, NAFCU will be following the Rules meeting and floor action.
Hearings of note this week include:
- Wednesday, at 10:00 a.m. Eastern, the House Financial Services Subcommittee on Consumer Protection and Financial Institutions will examine the proposed rule to modernize the Community Reinvestment Act; and
- Thursday, at 10:00 a.m. Eastern, the Senate Banking Committee will hold a hearing entitled, “Advancing National Security and Foreign Policy Through Export Controls: Oversight of the Bureau of Industry and Security.”
The association will host a webinar Tuesday, “The Future of Overdraft,” where Velocity CEO and attorney Christopher Leonard will discuss the latest regulatory thinking on the topic, dispel the myths covered in the big headlines, and share actionable strategies for providing short-term liquidity for credit unions, regulators, and members.
In addition, on Thursday, responses to NAFCU’s monthly CU Research Survey are due. Members are encouraged to submit responses on data privacy and member service to help support upcoming advocacy efforts on the Hill and with regulators.
Credit unions can now register for NAFCU’s 2022 Congressional Caucus where attendees will have the opportunity to engage lawmakers and regulators on a wide range of industry topics and all things happening on Capitol Hill. The event, happening September 11-14, will be held in person in Washington D.C. Hurry! $200.00 savings ends Friday with code CCSAVINGS.
In addition, registration is now open for NAFCU’s 2022 CFO Summit, where attendees will be able to take advantage of actionable information, best practices and stronger connections needed to advance credit unions. Held in Annapolis, Md., from September 20-22. Save $200.00 with code CFOSAVINGS through July 29.
Stay tuned to NAFCU Today on the latest credit union industry news.
Add to Calendar 2022-09-29 14:00:00 2022-09-29 14:00:00 Coming Soon: CECL This is a deep-dive refresher into the requirements of the Current Expected Credit Losses (CECL) standard. ASC 326 (CECL) is the most significant accounting standard to impact credit unions in many years. Your credit union should be prepared to adopt CECL in 2023 – this will be an effort to make sure you have a sound calculation, appropriate accounting policies and sufficient disclosures. In this Coming Soon: CECL webinar, you’ll get a baseline understanding of the accounting decisions required by the standard, with a focus on those that have tripped up earlier adopters; lessons learned from previous adopters; best practices and key items to consider for your model on a go-forward basis. Key Takeaways Understand requirements of the CECL standard Analyze lessons learned and best practices from previous adopters Evaluate key items to consider for future maintenance of the CECL model(s) 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 September 29, 2023.Go to the Online Training Center to access the webinar after purchase » Who Should Attend Presidents and CEOs CFOs Accounting titles NCRMs Risk titles Education Credits NCRMs will receive 1.0 CEUs for participating in this webinar CPA credit information is below; recommended 1.0 CPE credits. CPA Certification Credit Information 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: Accounting – 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 firstname.lastname@example.org America/New_York public
Credits: NCRM, CPE
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