News

NASCUS Summarizes NCUA’s Fidelity Bond Rule

NCUA has finalized amendments to Part 713 and Part 704 regarding fidelity bond coverage for natural person and corporate credit unions. Part 713 applies to federally insured state-chartered credit unions...

NASCUS Summarizes NCUA Interim Hemp Guidance

NCUA has issued “interim guidance” for credit unions interested in serving the legalized hemp industry. The guidance will be updated as needed as necessary regulations are issued by the United States Department of Agriculture (USDA) and others regarding the growth, processing, manufacture, and retail sale of hemp.

NASCUS Summarizes First 2019 NCUA Risk Alert

NCUA issued the first Risk Alert of 2019 to remind credit unions of the risks related to Business Email Compromise (BEC) fraud and steps that institutions should consider in order to mitigate the risk of falling prey to such scams.

NASCUS congratulates NCUA on the field of membership ruling

In a victory for NCUA and the credit union system, the District of Columbia Circuit Court of Appeals upheld virtually all aspects of NCUA’s Field of Membership Rule, overturning the lower district court which had struck down two provisions of the rule.

NASCUS Comments: ANPR on compensation for loans, lines of credit to members

NASCUS Comments: ANPR on compensation for loans, lines of credit to members June 24, 2019 Gerard Poliquin Secretary of the Board National Credit Union Administration 1775 Duke Street Alexandria, VA...

Summary Loans to Members

Summary: Part 701.21(c)(8) & § 741.203(a) Compensation in Connection with Loans to Members and Lines of Credit to Members Prepared by NASCUS Legislative & Regulatory Affairs Department April 2019 NCUA has issued...

March 15, 2019 NASCUS Report

At GAC, state system out in force with meetings, greetings — and top issues Lawmakers, federal regulators, credit union trade groups, credit union industry groups and more were all in...

Judges rule CFPB independent, structure constitutional

A panel of federal appeals court judges has ruled that the structure of the Consumer Financial Protection Bureau (CFPB) is constitutional, overturning an earlier decision in the U.S. Court of...

Evidence sought on how/if consumer bureau is fulfilling ‘proper, appropriate functions’

A series of “requests for information” to determine if the Consumer Financial Protection Bureau (CFPB) is fulfilling its “proper and appropriate functions to best protect consumers” will be published in...

Trump puts end to rule on arbitration agreements

A congressional repeal of the rule banning use of arbitration agreements for most financial products was formally signed into law by President Donald Trump Wednesday, following a close vote in...

Merger proposal earns opposition for lack of deference to state law

Proposed changes to NCUA rules regarding voluntary mergers are opposed by NASCUS, primarily because of the proposal’s lack of deference to state law, the association for the state credit union...

Summary outlines comments due on home equity reporting (July 31)

Comments are due next week (Monday, July 31) about revised thresholds for reporting open-end lines of credit, proposed by the Consumer Financial Protection Bureau (CFPB), as noted in a summary...