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 of Examination and Insurance, said they aren't likely to be rolled out until late 2013.
Segerson made the announcement in response to a question from the audience during a Wednesday afternoon compliance webinar sponsored by Credit Union Times and Credit Union Leadership Forum.
Segerson told the webinar audience of 280 participants that the NCUA has slowed down its rulemaking to ensure the agency has a full appreciation for the cost of implementation and rule effectiveness.
“We're going to move very slowly on our rules and if they are finalized in 2013, I can't guarantee when but I will tell you we have a lot of homework to do before we will come out with final rules on those,” he said of liquidity, CUSOs and loan participations.
Segerson also said he thinks many CFPB rules won't be finalized until 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 senior partner in the securities enforcement and litigation practice at Morgan Lewis, and Stuart R. Levine, former CEO of Dale Carnegie & Associates, who is now author and speaker on strategic planning and leadership development.
The panel, moderated by Credit Union Times Editor/ Publisher Sarah Snell Cooke, also discussed the need for ethics policies that are reviewed at least annually, and the expectation for increased transparency for both credit unions and their regulators.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
