Compliance Blog

Posted by Anthony Demangone

President Obama is really picking up the ball on regulatory reform.  Here are a few upcoming events:

Today:
Secretary Timothy F. Geithner joins President Barack Obama
Remarks by the President on the economy and a comprehensive plan for new rules of the road for the financial industry
Location TBA

Thursday, June 18, 2009
9:30 AM ET
Treasury Secretary Timothy F. Geithner
Testimony before the U.S. Senate Committee on Banking, Housing, & Urban Affairs on The Administration’s Proposal to Modernize the Financial Regulatory System
Hart Senate Office Building, room 216
Washington, DC

We are monitoring this closely, and we have been told that there's no plan to consolidate NCUA with other regulators.  But again, this is something that we'll monitor closely.

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The NCUA Board Meeting agenda for this Thursday is available here. Here's what is on tap.

1. Interim Final Rule – Section 701.21(f) of NCUA’s Rules and Regulations, Exception to the Maturity Limit on  Second Mortgages. 
2. Final Rule –Section 701.26 of NCUA’s Rules and Regulations, Operating Fees.
3. Temporary Corporate Credit Union Stabilization Fund.
4. Insurance Fund Report.

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Remember that list of compliance deadlines from last week?  I totally whiffed on a major one!  Don't forget the NACHA IAT Rule, which becomes effective September 18, 2009.  Here's a great resource page.  And the compliance deadline posting has been updated. Thanks, Sharon!