Regulatory & Compliance

CU officials and executives submitted comments to the NCUA on the 2020 budget proposal - many focused on the consumer protection portion.

During Thursday's Senate Banking Committee hearing, Hood says the NCUA will not meet his self-imposed deadline to issue a proposal on subordinated debt.

The White House has yet to receive the proposal for review, which will make an end-of-year release difficult to meet.

Lawmakers also question Hood about taxi medallion loans and serving hemp-related businesses.

ICBA's leader says, in part, "it stands to reason that the NCUA's oversight of the industry should not remain static" when it comes to consumer protection efforts.

NAFCU believes the rule is a good step, but does not go far enough.