Written by Steve Van Beek
NCUA Board. Rick Metsger will be sworn into office as an NCUA Board member on August 23 in a private ceremony on Capitol Hill. NCUA General Counsel Michael McKenna will deliver the oath of office to Metsger, paving the way for Metsger’s participation in NCUA's September 12 Board meeting (there will not be an August meeting).
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Interchange Fees (Durbin Amendment). As we mentioned on August 1st, the Federal Reserve's interchange regulation was overturned by a Federal District Court leaving the interchange fee caps and the network exclusivity provisions in limbo. On Wednesday, Judge Richard Leon held a hearing which focused on whether Federal Reserve should write an Interim Final Rule.
For additional information on the next steps, check out Carrie Hunt's video recap:
For background information on the Interchange Fee issue, check out NAFCU's Issue Brief (and consider attending NAFCU's Congressional Caucus next month).
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Seminar versus School. We're often asked which of NAFCU's compliance conferences is right for a particular individual. Below are a few guidelines that should help. Of course, if you have any questions - please shoot me an email and I'll be happy to help.
Regulatory Compliance Seminar
- Four days each October at different locations throughout the country. Next: October 22-25, 2013 in Nashville, Tennessee. Sneak Peek: October 14-17, 2014 in Baltimore, Maryland (registration coming soon!)
- Sessions include in-depth discussion of the hottest compliance issues facing credit unions - including detailed analysis of new and future regulations. For example, this year's conference will have multiple sessions reviewing the new mortgage regulations.
- Perfect conference for existing NAFCU Certified Compliance Officers (NCCOs) to obtain recertification (no exams!)
- Reconnect with your network of compliance professionals from around the country
Regulatory Compliance School
- Five days each March in the Washington D.C. area. Next: March 10-15, 2014 in National Harbor, Maryland. Registration is open; details coming soon (check out 2013 School for a good outline).
- Perfect conference for individuals interested in obtaining their NAFCU Certified Compliance Officer (NCCO) designation. Attendees have the option of taking the NCCO exams on-site (exams are the morning following each day of content).
- Sessions provide a comprehensive foundation of the compliance environment facing credit unions. We walk through the nuts and bolts of various regulations - such as Regulation D, Regulation E and Regulation Z - and review topics such as Share Insurance, the E-SIGN Act and Privacy of Member Information. Bring your pencils (and your sharpener(s))!
- Ideal for new compliance officers, those taking on more and more compliance responsibilities as well as those who are looking for a comprehensive "refresher" (School also provides 24 credits for existing NCCOs to complete their recertification).
We hope to see you Seminar or School in the upcoming year! For 2013 Seminar in Nashville - be sure to register by Friday, August 23 to lock-in early-bird savings!
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