Regulatory Developments Take Center Stage in Annual NCUA & NJ DOBI Panel Discussion

ATLANTIC CITY, N.J. – Thomas Hunt and Christopher Lopes from the NJ Division of Banking and Insurance (NJ DOBI), along with Marcus Vander Wall and Terry Adam from the National Credit Union Administration (NCUA) led a roundtable discussion Monday afternoon to address what credit unions can expect on the regulatory front.

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The NCUA reviewed New Jersey credit union industry statistics compared with national and Region II data. They also discussed the changes with CECL.

In addition, they reviewed NCUA's ALM policy, its new Interest Rate Risk procedures, and shock testing. They discussed recent expansion of the Military Lending Act to include virtually all consumer loans and lender obligations under the Service Member Credit Relief Act.

Finally, they briefly reviewed the new MBL rule and what examiners will be looking at.

NJ DOBI distributed and reviewed its new TRID disclosure form. They also joined in the discussion on industry trends and the challenges faced by small credit unions and the merger and consolidation trends, particularly for small state charters.

Additional photos from NJCUL's 84th Annual Meeting and Convention can be found on the League's official Facebook page.

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