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CUNA Advocacy report

CUNA Focus on Regulatory Relief at NCUA Chairman Meeting

Mar
18

The Credit Union National Association (CUNA) Executive Committee met with National Credit Union Administration (NCUA) Board Chairman Debbie Matz to discuss matters of concern for credit unions on March 12. Items discussed include NCUA’s efforts to update Prompt Corrective Action (PCA), focusing on risk-based requirements.

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NACHA Proposal on Compliance & Operational Topics

Mar
13

NACHA - The Electronic Payments Association has issued another proposal to address certain compliance and operational topics on the Automated Clearing House (ACH) network.

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NIST Information Request

Mar
12

The National Institute for Standards and Technology (NIST) has issued a request for information on the coordination of a “critical infrastructure” cyber-security standards framework, as one of the initial steps of the White House Executive Order and Presidential Policy Directive on cyber-security.

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NCUA Updates - 3/11/13

Mar
12

Here are two National Credit Union Administration (NCUA) updates:

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NCUA Regulation Review

Mar
11

The National Credit Union Administration (NCUA) has published its 2013 regulatory review list, which details the regulations the NCUA Board has scheduled to consider this year. NCUA reviews one-third of its regulations every year to update, clarify, simplify and eliminate unnecessary provisions. Parts 711 through 747 are up for review.

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Treasury Inflation Protected Securities (TIPS)

Mar
11

The National Credit Union Administration Board (NCUA) adopted a final rule that amends its investments rule to allow federal credit unions (FCU) to purchase Treasury Inflation Protected Securities (TIPS). Prior to this amendment to §703.14(a), NCUA did not permit FCUs to purchase TIPS. TIPS can be used to help FCUs manage inflation risks.

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CFPB Updates - 3/11/2013

Mar
11

Here are the current Consumer Financial Protection Bureau updates as of March 11, 2013:

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FASB's Credit Losses Proposal Causes Concern

Mar
11

There is growing anxiety about the Financial Accounting Standards Board’s (FASB) proposal regarding financial reporting of expected credit losses on loans and other financial assets. The proposed model would utilize a single “expected loss” measurement for the recognition of credit losses; this would replace the multiple existing impairment models in U.S. generally accepted accounting principles (GAAP) that primarily use an “incurred loss” approach.

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How Willing Is Your Board to Engage Members About Political Issues?

Mar
08

By Bill Cheney, Credit Union National Association President

You might be surprised if you asked them—they just might be more willing than you think.

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CFPB's Cordray Scheduled for Nomination Hearing

Mar
08

More news on the “regulatory burden” front.  Consumer Financial Protection Bureau (CFPB) Director Richard Cordray gets the chance to make his best case for Senate approval as permanent director of the agency (for a five-year term) next Tuesday, March 12, 2013,  at a hearing before the Senate Banking Committee.

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