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NCUA Makes Updates to IRR Framework
Updates to Interest Rate Risk Supervisory Framework - The NCUA has revised its interest rate risk (IRR) supervisory framework and issued Supervisory Letter 22-CU-09 to exam staff to increase clarity and flexibility. The changes to the IRR supervisory framework will improve the focus of the NCUA’s supervision of IRR in credit unions given current market conditions. On September 15, the NCUA will be hosing a webinar on the updates.
FDIC Updates Consumer Compliance Exam Manual
Updated Consumer Compliance Exam Manual – The manual was updated to conform to requirements for telemarketers (1) to no longer allow use of an “established business relationship” to avoid getting consent from consumers, (2) to obtain prior express written consent from consumers before making calls with an autodialer or that contain a message made with a prerecorded or artificial voice, and (3) to require telemarketers to provide an automated, interactive “opt-out” mechanism during each of the type of calls mentioned above in “(2)” so that consumers can immediately tell the telemarketer to stop calling.
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