20nov20

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Hope springs anew for marijuana banking bill

(Nov. 20, 2020) After some fits and starts over the last 12 months, there are signs that marijuana banking legislation in the Senate may receive at least a hearing, and...

Ito: Vigilance correct, but use of resources vital

(Nov. 20, 2020) NASCUS President and CEO Lucy Ito shared the board members’ call for vigilance, but also urged the agency to husband its resources, as NASCUS did in a...

BRIEFLY: Agencies jointly release BSA ‘fact sheet;’ NASCUS Report early next week

(Nov. 20, 2020) NCUA joined the federal banking agencies Thursday in releasing a fact sheet meant to clarify Bank Secrecy Act due diligence requirements for credit unions and banks that...

Bureau, others, keep appraisal threshold at same level

(Nov. 20, 2020) The threshold for exempting loans from special appraisal requirements applied to higher-priced mortgage loans under the Truth in Lending Act will remain at $27,200 in 2021, unchanged...

Proposal would remove ban on capitalization of interest

(Nov. 20, 2020) Prohibiting the authorization of additional advances to finance unpaid interest may be overly burdensome, the NCUA Board has reasoned, and it wants to remove that ban with...

Board shuffles budget, hears diversity report

(Nov. 20, 2020) In other action at its Thursday meeting, the NCUA Board: Reallocated $4.3 million in its budget for COVID-related “costs and opportunities.” The agency said the reallocation –...

‘CU Campus 365’ officially rolls out

(Nov. 20, 2020) NASCUS this week officially rolled out to its members a new alliance offering customizable, affordable, on-line education developed with the Bank Administration Institute (BAI). Under the “CU...

Nominees for Fed, OCC see action; NCUA candidate soon?

(Nov. 20, 2020) Two federal banking agencies saw action for their leadership futures this week, as a nominee for one barely failed to be confirmed to the position and another...

States offer insights into improving AML effectiveness

(Nov. 20, 2020) The state system made several recommendations for improving anti-money laundering (AML) effectiveness in a comment letter to federal law enforcement, responding to a call for comments issued...

Cloud of insurance premium overshadows board discussion

(Nov. 20, 2020) A premium for the federal credit union savings insurance program for this year is unlikely, but the outlook for next year and beyond is not so clear...

Agency sets Dec. 2 budget briefing; NASCUS to speak

(Nov. 20, 2020) NASCUS’ Lucy Ito expects to present the state credit union system view on the next NCUA budget – particularly its impact for the overhead transfer rate (OTR)...

Summary looks at policy on consent order termination

(Nov. 20, 2020) NASCUS has posted a new summary of a “statement of policy” on applications for early termination of consent orders from the CFPB. The summary is available to...