The Senate Banking Committee held a confirmation hearing Thursday for President Trump’s nominations for the NCUA Board, Republican Rodney Hood and Democrat Todd Harper.

In a joint statement released Monday, the National Credit Union Administration, the Financial Crimes Enforcement Network and other banking regulators, encouraged financial institutions to pursue innovation to meet Bank Secrecy Act and anti-money laundering compliance obligations.

The Federal Reserve will conduct a webinar on faster payments. Registration is currently open and scheduled for 1 pm on Monday, Nov. 26, 2018.

The National Credit Union Administration (NCUA) board voted today to approve a final risk-based capital rule (RBC) delaying implementation by one year, to Jan. 1, 2020.

The MD|DC Credit Union Association is hosting a webinar on Monday, November 5, 2018 from 11 am – noon on new requirements for credit unions and other financial institutions under Maryland’s Address Confidentiality Program.

FinCEN and the federal depository institution regulators issued a joint statement to address the benefits of financial institutions entering into collaborative arrangements to help manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.

Three credit unions have been hit by overdraft lawsuits in the past few months following a social media campaign targeting credit union members who have been charged overdraft fees.

The National Automated Clearing House Association (NACHA) has approved proposed rules to expand the capabilities of Same Day ACH.

MD|DC Credit Union Association CEO John Bratsakis wrote in the letter to the NCUA that risk-based capital regulations put in place following the 2007 financial crisis, while well-intentioned, were not necessary as potential losses were mitigated by the NCUA and credit unions performed well.

The National Credit Union Administration has selected Robert Foster as its Chief Information Officer, effective October 14.