Compliance Blog

 

Posted by Anthony Demangone

Here are a few items to get your week started.

NCUA.   The agency has released the most recent issue of the NCUA Report.   Of note...

• NCUA announced a series of NCUA workshops designed to assist federal credit union directors meet the new financial literacy aspect of NCUA's fiduciary duties regulation.  You may want to review the locations to see if any might be feasible for your credit union.  In addition, NCUA announced that it will release an online version of its financial literacy training module before July 27, 2011.
• There's an article detailing NCUA's Dodd-Frank initiatives. 
• There's an overview of the February NCUA Board meeting.
• The issue also discusses the rationale behind NCUA's decision to extend the 18% usury ceiling, as well as a look at consolidation within the industry.
• There are other topics covered as well, so please give it a read.

Speaking of NCUA...The agenda for this month's NCUA Board meeting is available.  Of note, NCUA will issue a proposal regarding interest rate risk management. Here's a NAFCU Today article regarding the agenda. 

CFPB.  This Wednesday, the House Financial Services Committee will hold a hearing titled "Oversight of the Consumer Financial Protection Bureau." The witness list is fairly short, only including one witness as of Sunday evening.  Elizabeth Warren.