In the News
CFPB also: finalizes supervisory guidance rule, issues FDCPA guide
(Jan. 22, 2021) A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday...
FAQs look at proposed effectiveness of AML requirements
(Jan. 22, 2021) Suspicious activity reporting and other anti-money laundering (AML) requirements are subjects of new frequently asked questions (FAQs) issued by NCUA, federal banking regulators and the Treasury’s Financial...
BRIEFLY: Biden settles on Barr to lead bank regulator; OCC issues national charter for digital assets bank
(Jan. 22, 2021) President Biden has reportedly determined that Michael S. Barr – a former assistant Treasury secretary for financial institutions (a position that interfaces with credit unions and banks)...
Two approaches proposed for simplifying risk-based capital requirements
(Jan. 15, 2021) Two approaches for simplifying risk-based capital (RBC) requirements for federally insured credit unions (FICUs) were proposed by the NCUA Board Thursday, one replacing the current rule with...
NASCUS: Proposal demands careful review
(Jan. 15, 2021) NASCUS President and CEO Lucy Ito urged careful review of the proposal by the entire credit union system – and noted that federal law requires the agency...
Board proposes adding ‘S’ component to exam rating system
(Jan. 15, 2021) Adding an “S” for “market sensitivity” to the examination rating system for NCUA was proposed unanimously by the agency Board Thursday, an addition long supported by NASCUS...
For NASCUS, (almost) a realization of a long-time goal
(Jan. 15, 2021) Lucy Ito praised the NCUA Board for moving forward on expansion of the rating system to include the “S” component. “We’re almost at the finish line –...
Other NCUA Board action taken on corporates, sub debt; CUSOs
(Jan. 15, 2021) In other action at its Thursday meeting, the NCUA Board: Adopted a final rule clarifying that corporate credit unions may purchase subordinated debt instruments issued by natural...
Summary outlines loan participation temp rule extension
(Jan. 15, 2021) A final rule extending to Dec. 31, 2021 a temporary final rule on loan participations is the subject of the latest summary to be developed by NASCUS...
Hauptman to serve as liaison to NASCUS
(Jan. 15, 2021) The state system has a new, direct contact on the NCUA Board: Vice Chairman Kyle Hauptman, who was named board liaison to NASCUS and another credit union...
Bureau, NCUA sign consumer protection MOU
(Jan. 15, 2021) Improving coordination between NCUA and CFPB over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a...
Applications open for bureau ‘advisory committees’
(Jan. 15, 2021) Applications for appointments to membership on one of four advisory committees that offer input from various sections of the financial industry, and for research projects by the...