On January 7th, 2020 the NCUA issued its annual letter to credit unions listing its 2020 supervisory priorities as well as updates on regulations and agencies modernization programs. On Tuesday, June 2nd, CU*Answers business development leaders hosted an informative webinar where they responded to the report and provided recommendations for review. A recording of this session is now available for you to review.
Jim Vilker (VP of Professional Services with AuditLink, NCCO, CAMS), Keegan Daniel (VP of Professional Services with Asterisk Intelligence and Earnings Edge) and Matt Sawtell (VP of Managed Technology Services with Network Services) discuss the following topics:
- Bank Secrecy Act and anti-money-laundering compliance
- Consumer financial protection
- Credit risk and liquidity risk
- Continue monitoring the implementation of the new standard for current expected credit losses, or CECL
- Planning for the transition from the London Interbank Offered Rate, or LIBOR, as the benchmark for setting interest rates.