The Federal Credit Union May-June 2014 - (Page 6)

INSIDE NAFCU NCUA Board Nominee McWatters on the Record W hen asked about NCUA's risk-based capital proposal during his March 13 Senate Banking Committee nomination hearing, Mark McWatters noted that "the devil is in the details" and committed to looking closely at the proposed rule. McWatters also spoke favorably of credit unions when questioned by committee Chairman Tim Johnson, D-S.D., about what future challenges he sees for the industry. McWatters, nominated to an NCUA Board term that continues through Aug. 2, 2019, would succeed Michael Fryzel if he is confirmed. The NCUA Board nominee was on the troubled Assets Relief Program Congressional Oversight Panel from 2009 to 2011 and, before that, served as counsel to Rep. Jeb Hensarling, R-Texas, now chairman of the House Financial Services Committee. consumers. He also said overregulation of small credit unions could be a problem and said he would look into it after he is confirmed to the board. McWatters is currently the assistant dean for graduate programs and an adjunct professor at the Southern Methodist University Dedman School of Law. He practiced law for 25 years previously, focusing on domestic and cross-border tax, mergers and acquisitions and corporate finance. On his focus as a regulator, he said that will be "straightforward": "Don't neglect the fundamentals of capital, liquidity, and transparency, and always remember that the greatest threat to a financial system may reside where you least expect it - hidden within plain view." Testifying before the Senate Banking Committee, McWatters suggested there is an opportunity for low-income-designated credit unions to expand their mandate and serve more underbanked and unbanked At press time, the Senate Banking Committee was expected to report McWatters' nomination favorably to the Senate in the very near future, paving the way for a vote on confirmation. NAFCU's Online Training Center N AFCU has launched a new, extensive Online Training Center (OTC) to help credit union volunteers and professionals broaden their expertise and knowledge about regulatory issues and developments affecting their institutions. The OTC provides timely webcasts on the hottest compliance topics and self-paced compliance modules. "Our network of experts will provide credit union volunteers, management and staff wide-ranging information critical to their roles within the credit union operation," said NAFCU 6 President and CEO Dan Berger. "Even though credit unions face tightening budgets, the need for knowledge in this increasingly complex regulatory environment has never been greater." The following products will be available in the OTC: Compliance webcast and online training subscription ■■ Board of directors and new staff online training subscription ■■ All-access pass to the Online Training Center ■■ New and archived webcasts ■■ Free sample modules (for members only) ■■ Credit unions can sign up for a one- or two-year subscription to the compliance webcast and online training subscription and the all-access pass. The two-year option provides a 35 percent discount to all OTC education. The OTC is open to association members and nonmembers. Recent webcasts have focused on: Bank Secrecy Act case studies; the massive Target Corporation data security breach; the new mortgage rules from the CFPB; NCUA's proposed rule on risk-based capital; NCUA's board of director policies; and many more of the issues now facing credit union executives, risk and compliance staff, volunteers and others. Visit www.nafcu.org/onlinetrainingcenter to learn more and subscribe. THE FEDERAL CREDIT UNION MAY-JUNE 2014 http://www.nafcu.org/onlinetrainingcenter/ http://www.nafcu.org/onlinetrainingcenter http://www.nafcu.org/onlinetrainingcenter

Table of Contents for the Digital Edition of The Federal Credit Union May-June 2014

Voices & Opinions
Calendar of Events
From the Chair
Inside NAFCU
Business Talk
The Lending Landscape
The Social Life: A Social Media Roundtable
NAFCU's 2014 Annual Report
Getting to Know...
Management Insight
Compliance Central
Inside NAFCU Services
From the President's Desk

The Federal Credit Union May-June 2014

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