Newsroom
NAFCU watching issues related to CU capital, liquidity
With chances of another stimulus package and economic impact payments (EIPs) to consumers increasing due to the results of the Georgia runoff elections, NAFCU is watching movement on legislation that could impact credit unions. Of note, the association is closely monitoring discussions related to rising concerns surrounding the impact economic relief efforts could have on credit union share growth.
In light of this, NAFCU has voiced its concerns to the NCUA and previously urged the agency for additional capital flexibility for credit unions to manage unexpected share growth, including more specialized and flexible parameters for meeting certain supervisory requirements and regulatory asset thresholds. In a previous post on the NAFCU Compliance Blog, Senior Counsel for Research and Policy Andrew Morris broke down a recent interim final rule issued by banking regulators seeking to mitigate the costs to banks of crossing asset-based regulatory thresholds.
The association has also consistently called for lawmakers to provide capital flexibility to credit unions on par with what community banks received in the CARES Act, which allowed banking regulators to temporarily lower the Community Bank Leverage Ratio (CBLR) from 9 percent to 8 percent.
A recent NAFCU Compliance Blog post also highlighted several items for credit unions to keep in mind as they work to process another round of EIPs.
Additionally, in an email to member credit unions last week, NAFCU Vice President of Legislative Affairs Brad Thaler provided an update on the 117th Congress.
In the message, Thaler noted that while Democrats are poised to take control of a 50-50 split Senate when Vice President-elect Kamala Harris is sworn in on Jan. 20, details on how the Senate will organize have not been announced.
"Regardless of the details, the practical impact of a 50-50 Senate is that Democrats will control the agenda as the majority party and chair Senate committees," wrote Thaler. "This will allow them to consider President Biden’s agenda and House-passed legislation."
Thaler also highlighted that lawmakers with whom NAFCU has long-standing and strong relationships with, Senators Sherrod Brown, D-Ohio., and Ron Wyden, D-Ore., will chair the Senate Banking Committee and Senate Finance Committee, respectively.
As a bipartisan organization, NAFCU works closely with members on both sides of the aisle. The association will continue to build its strong relationships on Capitol Hill to advance credit union priorities and achieve a legislative and regulatory environment in which the industry can thrive.
Credit unions are encouraged to join NAFCU in its advocacy by using the association's Grassroots Action Center to build relationships with lawmakers from their home districts and states, and advocate on behalf of the industry.
Stay up to date with NAFCU and the credit union industry by subscribing to NAFCU Today and engaging with the association on social media via Facebook, Twitter, LinkedIn, and Instagram.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
Get daily updates.
Subscribe to NAFCU today.