Regulatory Resources Archive

To see the archive of proposed and final rule summaries and NASCUS comment letters, follow this link.

Feb. 21, 2012

NASCUS Recommends Different and Less Preemptive Approach for Loan Participation Risk
In a Feb. 21 comment letter, NASCUS recommends NCUA work with state regulators to address supervisory concerns regarding loan participations in a manner that does less harm to the dual chartering system, more effectively mitigates material risk, and improves oversight while not unnecessarily burdening credit unions.
Feb. 8, 2012
NCUA Continues to Eye Derivatives as Mitigating Tool for Interest Rate Risk
NASCUS is encouraging state regulators to review state regulations to determine what activities to mitigate interest rate risk are permissible for state-chartered credit unions. A summary of the NCUA ANPR for FCUs is available for NASCUS members to assist in studying the appropriate applicability to SCUs.
Jan. 27, 2011
NCUA Finalizes Interest Rate Risk Rule, Addresses Loan Workouts and Derivatives
The National Credit Union Administration (NCUA) made final a rule requiring credit unions to have a written interest rate risk (IRR) policy, among other actions, at its January 26, 2012 open board meeting.
Dec. 19, 2011
NASCUS Assessing State Law Impact of Proposed Extension of Loan Participation Rules to FISCUs
The National Credit Union Administration (NCUA) approved a proposed rule that would extend existing loan participation rules for federal credit unions to federally insured state-chartered credit unions and impose new concentration limits.
Nov. 21, 2011

CFPB Publishes Supervisory Statement on Determining $10 Billion Asset Threshold
Determination of which institutions immediately fall under the CFPB's authority will be based on the June 30, 2011 Call Report data. Future determination of whether an institution surpasses the $10 billion asset threshold, or conversely, falls below the threshold, will be based on four consecutive Call Reports.
Nov. 29, 2011
CFPB Publishes Request for Comments on Streamlining Regulations
The Bureau of Consumer Financial Protection (CFPB) published a request for comments on streamlining regulations it recently inherited from other Federal agencies. NASCUS members can view a summary here.
Oct. 18, 2011

NCUA Inspector General Issues Report on NCUA's DOR Follow-Up Process
The Inspector General concluded that NCUA failed to effectively monitor or follow up on unresolved DOR items and recommended improvements.
Oct. 17, 2011
NASCUS Makes FISCU Regulatory Relief Recommendations to NCUA Chairman
Recently, the NCUA Chairman announced a Regulatory Modernization Initiative aimed at providing some regulatory relief for credit unions. NASCUS recommended additional reforms for federally insured state-chartered credit unions including consolidating insurance rules into one section and improvements to online resources.
Oct. 17, 2011
CFPB Releases Examination Manual and Guide
The Consumer Financial Protection Bureau (CFPB) released its CFPB Supervision and Examination Manual, the guide for their examiners to use in overseeing companies that provide consumer financial products and services.
Sept. 27, 2011
NASCUS Urges NCUA to Leverage Existing Resources and Enhance Risk Focus for Supervision of CUSO Activities
NASCUS urges NCUA to reconsider this proposal and work with state regulators to enhance supervision by improving existing authority and monitoring programs, and minimize regulatory burden by adopting a targeted approach to CUSO oversight. View our comment letter here.
Sept. 26, 2011
NCUA Issues Final Rule Regarding Net Worth from Senate Bill 4036
In January of this year, the President signed Senate Bill 4036 which included amendments to the Federal Credit Union Act to clarify the use of the term net worth in combination transactions and to allow Section 208 assistance to be counted towards net worth.
Aug. 11, 2011
FTC Issues Final Rule Applicable to SCUs on Deceptive Mortgage Acts and Practices
The Federal Trade Commission issued a final rule effective August 19, 2011 that requires state-chartered credit unions to comply with certain rules regarding mortgage advertising. This final rule prohibits any misrepresentation in any commercial communication regarding any term of any mortgage credit product; and imposes certain recordkeeping requirements. The final rule can be viewed here. A NASCUS summary of the final rule can be downloaded here. (Member log-in required).
July 26, 2011
Summary of Letter to Corporate Credit Unions No. 2011-03 Annual Reporting Requirements and Internal Control Assessments Required Under Section 704.15(a) of the NCUA Rules and Regulations
June 30, 2011
Federal Reserve Sets Higher Interchange Debit Fee Cap, Incorporates Fraud Costs
A final rule released by the Federal Reserve Board (Fed) sets a 21-cent transaction interchange fee cap for debit cards along with a five basis points per transaction for fraud costs. The final rule is effective Oct. 1, 2011.

June 11, 2011

NASCUS Recommends Consultation with State Regulators on Incentive-Based Compensation Proposal NASCUS commented recently to the NCUA on its proposed rule regarding incentive-based compensation disclosure, a rulemaking required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
May 24, 2011
NASCUS Responds to NCUA Proposals on Interest Rate Risk, Net Worth and Equity Ratios
NASCUS recommends alternative interest rate risk management approach and comments on the proposal to implement legislation approved earlier this year.
March 30, 2011
NCUA Publishes Approved Corporate CUSO Activities
NCUA’s Office of Corporate Credit Unions (OCCU) has begun publishing approved activities for corporate credit union CUSOs on a new dedicated page on the NCUA web site.
Feb. 11, 2011
Summary of Letter to Corporate Credit Unions Regarding Large Consolidation Issues
NCUA's Office of Corporate Credit Unions (OCCU) has issued LTCCU No.: 2011-02, Large Consolidation Issues, to address issues raised by the credit union system's development of business plans to recapitalize corporate credit unions and/or partial replace the services previously provided by corporate credit unions. (Member log-in required)
Jan. 31, 2011
NCUA Issues Letter Regarding Approval of Corporate CUSO Activities Pursuant to New Regulations
NCUA's Office of Corporate Credit Unions (OCCU) issued Letter to Corporate Credit Unions (LTCCU) 2011-01 to provide guidance for obtaining NCUA approval of corporate credit union service organization (CUSO) activities pursuant to new final §704.11(e).