Links in “NAFCU”
- Trade Associations Ask for RBC Comment Period Extension
CUNA and NAFCU have jointly requested the NCUA extend the comment period for the proposed risk-based capital rule for an additional 90 days. The trade associations assert that the current end date for the comment period, May 28th, has not provided credit unions sufficient time to analyze the impact of the proposed rule on their operations and to prepare responses. [4/18]
- A Look at FFIEC’s Alert on Heartbleed
NAFCU's recap of last week's FFIEC alert on the "Heartbleed" vulnerability. [4/14]
- NCUA Claims Reduction in Reg Burden, Trades Disagree
In testimony before the Financial Services Committee yesterday, NCUA Attorney General, Mike McKenna, stated that majority of the rules adopted by the agency in 2013 provided regulatory relief to credit unions. Both CUNA and NAFCU disagree, stating that itâs not the number of the rules thatâs relevant, but the impact of those rules that is the important consideration. [4/9]
- CUs Offered Talking Points on Risk-Based Capital Proposed Rule
NAFCU encourages credit unions to write comment letters to NCUA regarding how the proposed rules would affect credit union industry. [4/4]
- Reg. E: Can a CU Require a Member to Obtain a Police Report for Fraudulent Activity?
No. The credit union can request a police report, but cannot require it. That was one of "5 great points" from NAFCU's recent compliance school. Read the other four here. [3/28]
- A Look at the NCUA’s Liquidity and Contingency Funding Letter
NAFCU reviews the NCUA's recent supervisory letter addressing the exam process for liquidity and contingency funding rules. [3/19]
- Setting Record Straight on Erroneous NRF Claims
NAFCU has issued a public statement taking the National Retailers Federation to task for what it sees as erroneous claims about data breaches and the measures needed to address them. Despite NRFâs claim that card issuers could eliminate the risk through chip-and PIN technology, NAFCU says that national standards on data security for retailers is a critical component in addressing the issue. [3/6]
- Trades Request Extended Comment Period for Risk-Based Capital Rule
NAFCU and CUNA have requested that the 90-day comment period for the proposed risk-based capital rule be extended to 180 days. Calling it the most proposed rule that credit unions will face this year or in years to come, the trades stated that credit unions need to have sufficient time for careful and thorough consideration. [3/3]
- Could the Cure Kill the Patient?
According to NAFCU CEO Dan Berger, NCUAâs proposed risk-based capital rule could put healthy credit unions out of business. Berger states that under the proposed rule some credit unions would be required to shoulder a disproportionate share of the burden. [2/25]
- Individual Minimum Capital Requirement
NAFCU takes a look at the Individual Minimum Capital Requirements, part of the proposed risk-based capital rule for credit unions. [2/21]
