This week: NAFCU monitoring financial regulators, payday hearings
Ahead of a hearing Thursday where lawmakers are set to discuss the CFPB's proposed repeal of the payday lending rule, NAFCU and member credit unions will meet today with the bureau and NCUA to discuss the payday lending rule and credit unions' payday alternative loans (PALs) programs.
The House Oversight and Reform subcommittee hearing Thursday will examine the CFPB's role in empowering predatory lenders and the proposed repeal of its payday lending rule. While NAFCU believes regulators must crack down on bad actors, the association has expressed support for the payday rule delay and continues to urge the CFPB to expand its safe harbor for all future iterations of PALs. The association's advocacy led the bureau to take into account credit unions' concerns in the final rule and create a safe harbor for NCUA's PALs.
Also happening this week, the Senate Banking Committee on Wednesday will hear from Comptroller of the Currency Joseph M. Otting, NCUA Chairman Rodney Hood, FDIC Chairman Jelena McWilliams, and Vice Chair for Supervision, Board of Governors of the Federal Reserve System Randal Quarles to discuss oversight of financial regulators. The same panel goes before the House Financial Services Committee Thursday.
NAFCU will also monitor a Senate Committee on Small Business and Entrepreneurship hearing on the reauthorization of the Small Business Administration's (SBA) innovation programs set to begin at 2:30 p.m. Eastern Wednesday. The association works closely with the SBA to increase credit unions' participation in SBA lending programs in order to better serve their communities; the association met with the agency in March to discuss these efforts.
Last week, House Financial Services Chairwoman Maxine Waters, D-Calif., and Ranking Member Patrick McHenry, R-N.C., announced legislation that would extend the National Flood Insurance Program through September 30. Discussions are expected to continue in the House as the program is currently set to expire at the end of the month. A number of NAFCU-sought reforms for the program were discussed during a House Financial Services Committee hearing on its reauthorization in March.
Also happening this week:
- NAFCU is offering a webinar tomorrow focused on website and social media compliance violations. Register here.
- Tomorrow, NAFCU's Regulatory Committee will meet to discuss issues affecting credit unions.
- Tomorrow, the Senate Finance Committee will hold a hearing on challenges in the retirement system.
- Wednesday, a Senate Appropriations subcommittee will examine the Treasury Department's proposed budget estimates for fiscal year 2020.
- Thursday, NAFCU will meet at the Treasury Department to discuss the Telephone Consumer Protection Act (TCPA) and efforts to further clarify the definition of "autodialer" to ensure legitimate businesses such as credit unions can contact consumers without fear of breaking the law.
Add to Calendar 2019-07-18 14:00:00 2019-07-18 14:00:00 Preparing for the NAFCU Certified Bank Secrecy Officer (NCBSO) Designation NAFCU's Certified Bank Secrecy Officer (NCBSO) designation can only be obtained in-person during NAFCU's BSA Seminar. It's the ideal achievement for people like you who protect your credit union against money laundering threats. It also demonstrates to NCUA and FinCEN you're dedicated to BSA compliance. Don't miss this opportunity to learn more about the NCBSO designation, its benefits and best practices for exam prep. Join Brandy Bruyere, NAFCU’s VP of Regulatory Compliance for this short webinar on how best to prepare for the NAFCU Certified Bank Secrecy Officer Designation. Key Takeaways: Learn and review best practices to prepare for the NCBSO exam Explore the best use of study materials Learn about the daily study sessions Discover how to maximize your study time Register NowRegistration is free, but you must register to attend.One registration gives your entire credit union access to the on-demand recording until July 18, 2020.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU 2019 BSA Seminar registrants BSA, AML, risk, auditing, legal and operations staff Executive Management Credit Union Counsel Open to all credit unions, regardless of membership or charter type! Education Credits This webinar does not qualify for any continuing education credits recognized by NAFACU 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
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Add to Calendar 2019-07-18 14:00:00 2019-07-18 14:00:00 Executive Benefits: Pitfalls to Avoid in Due Diligence Watch the Webinar On-Demand About the Webinar Is your executive benefits program regulator-friendly? Whether you have an existing program or are interested in developing one, find out what matters most to your regulator. You’ll hear about trends in recent exams and get tips on updating your program. Other hot topics include: Overview of Executive Benefits NCUA 2017 Examiner Guidance for Executive Benefits and Benefit Investments Thirteen red flags to avoid Web NAFCU email@example.com America/New_York public
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