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NCUA Votes to Delay Risk-Based Capital Rules for Credit Unions: In mid-June, the the effective date of the 2015 risk-based capital rule for credit unions until January 2022. This is the second time the NCUA has delayed the rule, which banks have been subject to since 2014.
Fed to Maintain Interest Rates but Signals Shift in Sentiment: The Federal Open Market Committee announced on June 19 that they would at the current 2.25 to 2.5 percent. Despite remaining the same, the FOMC noted that “uncertainties around this outlook have increased”.
ABA Seeks Greater Clarity on Banks’ Ability to Serve Industrial Hemp Businesses: In a letter to agency heads, the ABA called for greater may serve businesses dealing with hemp, which was removed from the Controlled Substances Act by Congress as part of the 2018 Farm Bill.
ABA Foundation Accepting Applications for Community Commitment Awards: The ABA Foundation is now accepting applications for the , which recognizes and promotes the valuable ways banks contribute to economic growth, community development and enhancing the quality of life. Entry forms must be submitted by July 12.
Members in the Community
Finally, a chance for us to shine a spotlight on the many contributions our members are making in their community:
We are now accepting registrations for our fall programs, including theeducational offering, the , which will begin in September. These programs are purposely kept small to maximize students’ time with instructors, so make sure to register early.
Registration is also open for the fall 2019 conferences, including the, and the .
Today in History: In 1935, President Franklin D. Roosevelt orders a federal gold vault to be built at Fort Knox, Kentucky.
As always, if we can be of any assistance, please do not hesitate to reach out.