News

State system keeping tabs on impact of big hack

(Dec. 18, 2020) NASCUS is in touch with federal authorities about the recent – and some say catastrophic – hack of IT systems by a nation-state hacker group that was...

Proposal requires ‘prompt’ alert to security incidents

(Dec. 18, 2020) A new proposal that would require financial institutions to provide “prompt notification” to their federal regulators upon occurrence of a security incident may be coming to an...

BRIEFLY: Job openings in WA; GAO sees little adverse impact from leveraged lending; Holiday schedule for <i>NASCUS Report</i>

(Dec. 18, 2020) The Credit Union Department of the Washington Department of Financial Institutions has two job openings (which are posted on nascus.org right now): Financial Examiner 2-3 and Financial...

States keep steady holding half of all assets at end of 3Q

  (Dec. 11, 2020) State credit unions maintained their hold of half of all credit union assets during the third quarter, according to the latest quarterly financial results released by...

NCUA Board to hold 2 meetings: <i>Thursday meeting considers final sub debt rule … </i>

(Dec. 11, 2020) As the month winds down, as well as the year, the NCUA Board apparently has decided to make the most of it — by scheduling not one...

NCUA Board: … <i>Friday, board to consider 2021 budget</i>

(Dec. 11, 2020) Final approval of the 2021 NCUA budget, which includes a concerning increase in the overhead transfer rate (OTR), will be under consideration when the agency’s board meets...

Ethics counsel will be first for agency

(Dec. 11, 2020) Following up on plans announced in the wake of reported ethics failings by former staffers, the NCUA this week announced the selection of Elizabeth J. Fischmann as...

Texas wants to keep state regulator as ‘best option’

(Dec. 11, 2020) Texas has a “continuing need” for the state credit union department and it should be sustained for another 12 years, according to a recommendation reached this week...

TRANSITIONS: New face in AZ DIFI

(Dec. 11, 2020) Shane Foster is the new deputy director of financial institutions at the Arizona Department of Insurance and Financial Institutions (DIFI, a consolidated agency, as of July 1,...

New summaries look at corporate, guidance rules

(Dec. 11, 2020) Two new summaries were posted this week by NASCUS, outlining an NCUA final rule on corporate credit unions and an interagency proposal about codifying the use of...

Bureau makes final two new QM rules

(Dec. 11, 2020) Two final rules related to “qualified mortgages” (QMs) – one installing a limit on lending based on a loan’s pricing, and the second creating a “seasoned QM”...

BRIEFLY: NASCUS joins DEI collective; NASCUS comms job seeks applicants

(Dec. 11, 2020) Following passage of the NASCUS DEI Public Policy in August , the NASCUS Regulatory Board and Credit Union Advisory Council voted unanimously to sign the Credit Union Diversity,...