Register Now for Our Feb. 15 Webinar with the SBA
Credit unions interested in Small Business Administration loan programs can get valuable information from our upcoming webinar scheduled for Feb. 15 at 2 p.m. Eastern. This 90-minute webinar, “SBA Opportunities for Credit Unions,” will provide an update on the new SBA One automated lending platform and will discuss SBA’s Microenterprise Loan Program for credit unions making loans smaller than $50,000. The webinar will also provide an update on NCUA’s member-business lending rule.
CUSO Registry Reaffirmation Period Now Open
Credit union service organizations will have from Feb. 1 to March 31 to complete their annual required reaffirmation with NCUA’s CUSO Registry. CUSOs can complete this required process online through the registry. There is no fee to use the registry or to complete the reaffirmation process.
McWatters Named Acting NCUA Chairman
President Donald J. Trump has designated NCUA Board Member J. Mark McWatters as the Acting Chairman of the NCUA Board. McWatters succeeds Rick Metsger, who was designated Board Chairman in May 2016. Metsger continues to serve as an NCUA Board Member.
NCUA Sets Supervisory Priorities for 2017
Earlier this month, NCUA released its supervisory priorities for 2017. The areas that NCUA’s field of staff will focus on include cybersecurity, interest rate and liquidity risk, Bank Secrecy Act compliance, internal controls and fraud prevention, commercial lending and consumer compliance.
Board Seeks Broad Stakeholder Engagement on Alternative Capital
The NCUA Board is considering changes to the existing secondary capital regulation and whether to authorize federally insured credit unions to issue supplemental capital instruments that would only count toward a credit union’s risk-based net worth requirement. Board Chairman Rick Metsger said it’s important for credit unions to study this idea and provide the agency with their views.