updated 11/12/13 10:05 AM
Also, Fed Issues Payment Systems Paper
Credit union staff can get an inside look at National Credit Union Administration Board Chairman Debbie Matz in two 15-minute interviews posted on the Credit Union National Association's Inside Exchange webpage, hosted by Paul Gentile, executive vice president of communications for CUNA.
Debbie Matz, Chairman of the National Credit Union Administration
Matz discusses several important regulatory issues, including NCUA's regulatory modernization initiative, a proposed stress-test rule, the status of the agency's CUSO rule, the drafting of a risk-based capital rule, and what credit unions can expect from NCUA in 2014.
Click here to view the first interview, and click here for the second interview.
Fed Issues Payment Consultation Paper
The Federal Reserve Banks recently issued a Payment System Improvement—Public Consultation Paper, which is designed to start a conversation and ultimately improve the U.S. payment system.
In the face of rapidly evolving technology, the Federal Reserve Banks are hoping to centrally coordinate the development of "open payment networks and/or broadly interoperable networks" by bringing together the payments industry and fostering coordination to drive payment system improvement.
The paper identifies eight key gaps and opportunities for improvement, as well as five desired outcomes. To solicit feedback, the Fed included a 21-question survey and is seeking comments by Dec. 13.
The California and Nevada Credit Union Leagues encourage credit unions to read the paper and share their concerns regarding payments, including what role, if any, the Federal Reserve Banks should play in helping to improve the payment system.
You can find the Leagues’ summary of the paper, questions to consider, and provide feedback to the Fed by using PowerComment!
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