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NAFCU compliance team shares NCUA, CFPB updates, deadlines at CACR
NAFCU Director of Regulatory Compliance Nick St. John, Regulatory Compliance Counsel Tara Simpson, and Regulatory Compliance Counsel Judy Dahn presented at the Capital Area Compliance Roundtable (CACR) – a group of credit unions located in the Washington, D.C., area – to share important updates from regulatory agencies.
The presentation highlighted updates on the compliance developments in the last four months and took an in-depth look into notable developments regarding the NCUA, including the NCUA’s request for information on climate-related risk, recent agency guidance and recent proposed rules. The team also discussed the upcoming expiration of NCUA Board Member Rodney Hoods’ term, as well as the impending effective date of the NCUA’s cyber incident notification rule.
Additionally, the presentation provided a look at what to watch in late 2023 with the CFPB rulemaking agenda and the Supreme Court case arguments on the constitutionality of CFPB’s funding in the fall term. NAFCU, CUNA, and AACUL sent a joint amicus brief last week to challenge the funding structure.
For information on the latest compliance updates, credit unions can visit NAFCU’s Compliance Blog, as well as the association’s Compliance Monitor and BSA Blast.