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ARLINGTON, Va.–NCUA is being urged to keep in mind the “totality” of any new regulations related to risk-based capital in a comment letter by NAFCU.

WASHINGTON – As a result of a working group established by the U.S. Department of the Treasury’s Office of Terrorism and Financial Intelligence, the federal bank regulatory agencies and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) have issued a joint statement on their risk-focused approach to Bank Secrecy Act (BSA)/anti-money laundering (AML) supervision.

ARLINGTON–Neighborhood Credit Union has once again surprised a member who arrived at a branch and was handed a $10,000 prize check. The most recent member to win in Neighborhood CU’s Prize Savings Account promotion is Tabitha Giddings.

WASHINGTON–Equifax has reached an agreement with the Federal Trade Commission to pay up to $700 million to state and federal regulators in order to settle investigations into its massive 2017 data breach.

WINSTON-SALEM, N.C.—Long-tine CEO Marc Schaefer, who played a key role in the history of credit unions, announced he is retiring at the end of 2019.

WASHINGTON—New bipartisan legislation introduced in the Senate would establish an interagency working group tasked with developing accountability metrics to enhance cybersecurity protocols and protecting federally-funded research and development activities from foreign interference, espionage, and exfiltration.

NEW YORK—Sixty New York City taxi medallions sold in auction on July 17 for $110,500 per medallion, below the already depressed prices seen recently in other auctions.

WASHINGTON—The Financial Accounting Standards Board, which issued the current expected credit loss (CECL) standard, has issued a second CECL question-and-answer document about the standard.

WASHINGTON–While Robert Mueller’s testimony on Capitol Hill on Wednesday will dominate news coverage this week, credit unions are paying attention to several other hearings, including one at which a credit union executive will testify.

No true credit unionist ever forgets when they were a wee lass or lad and went away to Camp Credit Union, where they would gather under the stars at night next to a glowing cooperative campfire before there would be a hush, and a wizened camp counselor in an Ed Filene replica fedora would share the CU genesis story of the New Hampshire mill workers and the formation of the first credit union.