Newsroom
CUs discuss NCUA, CFPB updates during Reg Committee meeting
NAFCU’s Regulatory Committee met Tuesday and discussed several proposals and issues open for comment, including several from the CFPB and NCUA.
In addition, the group discussed digital asset regulation and the formulation of digital assets policy priorities to protect the interests of credit unions, consumers, and the financial system, as well as the Social Security Administration’s Electronic Consent Based SSN Verification service, which was created to assist financial institutions and credit agencies in curbing synthetic ID fraud.
Items open for comment discussed during the meeting included:
- the NCUA’s interpretive ruling and policy statement regarding its Minority Depository Institution (MDI) Preservation Program;
- a joint agency proposed guidance related to reconsiderations of value (ROVs) of residential real estate valuation processes (comments are due to NAFCU Sept. 12); and
- the NCUA’s request for comment on its operating fee schedule methodology, for which comments are due to the agency Sept. 5.
Stay tuned to NAFCU Today for the latest regulatory and advocacy updates. Additional details on final and proposed regulations can be found on NAFCU’s website.