Credit unions awaiting NCUA final rules on emergency liquidity, CUSOs and loan participations can breathe easy for several months.
|Tim Segerson, the agency's Deputy Director of the Office ofExamination and Insurance, said they aren't likely to be rolled outuntil late 2013.
|Segerson made the announcement in response to a question fromthe audience during a Wednesday afternoon compliance webinarsponsored by Credit Union Times and Credit Union LeadershipForum.
|Segerson told the webinar audience of 280 participants that theNCUA has slowed down its rulemaking to ensure the agency has a fullappreciation for the cost of implementation and ruleeffectiveness.
|“We're going to move very slowly on our rules and if they arefinalized in 2013, I can't guarantee when but I will tell you wehave a lot of homework to do before we will come out with finalrules on those,” he said of liquidity, CUSOs and loanparticipations.
|Segerson also said he thinks many CFPB rules won't be finalizeduntil late 2013, with the exception of the final remittance rule,which he said is “a few months out.”
|The webinar also featured Anne Flannery, a New York-based seniorpartner in the securities enforcement and litigation practice atMorgan Lewis, and Stuart R. Levine, former CEO of Dale Carnegie & Associates,who is now author and speaker on strategic planning and leadershipdevelopment.
|The panel, moderated by Credit Union Times Editor/Publisher Sarah Snell Cooke, also discussed the need for ethicspolicies that are reviewed at least annually, and the expectationfor increased transparency for both credit unions and theirregulators.
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