Written by Steve Van Beek
Yesterday, NCUA released the agenda for their July 24th Board Meeting. Note: This meeting will occur on Tuesday, July 24th rather than the usual Thursday timeframe. Below is the agenda for the very busy meeting:
- Board Briefing – Interagency Proposal, Truth in Lending Act.
- Interest Rate Ceiling Determination.
- Proposed Rule – Section 701.14 of NCUA’s Rules and Regulations, “Troubled Condition” Definition.
- NCUA’s Rules and Regulations, Access to Emergency Liquidity.
- 2012 Temporary Corporate Credit Union Stabilization Fund Assessment.
- Quarterly Insurance Fund Report.
- Reprogramming of NCUA’s Operating Budget for 2012.
ATM Disclosure Fix. A new bill, S. 3394, was introduced in the Senate which combines the ATM disclosure fix and the CFPB privileged information bills. Additional details can be found in the NAFCU Today.
Yesterday, the Senate's Homeland Security & Governmental Affairs Permanent Subcommittee on Investigations held a hearing on "U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History." The description of the hearing was:
"The Subcommittee plans to hold a hearing on the money laundering and terrorist financing vulnerabilities created when a global bank uses its U.S. affiliate to provide U.S. dollars, U.S. dollar services, and access to the U.S. financial system to high risk affiliates, high risk correspondent banks, and high risk clients, using HSBC as a case study."
A summary can also be found in the Senate's Press Release prior to the hearing.