Press Room

The NCUA Board held its second public meeting since the onset of the COVID-19 pandemic. At the meeting, Board issued an interim final rule on prompt corrective action (PCA) and a proposed rule on the joint ownership of share accounts. The Board was also briefed on the National Credit Union Share Insurance Fund's quarterly report and tabled an interim final rule on overdrafts.

NASCUS commends the Small Business Administration for launching the unprecedented Paycheck Protection Program but calls on the agency to assist state regulators and credit unions properly implement the program with notable enhancements.

The NCUA Board held its first public meeting since the onset of the COVID-19 pandemic. At the meeting, the Board discussed it’s COVID-19 response and real estate appraisal relief.

The NCUA Board voted unanimously to extend the comment period for the proposed Combination Transactions Rule by 60 days. NASCUS President and CEO Lucy Ito issued the following statements in response to the Board’s extension.

Due to concerns about the spread of the coronavirus (COVID-19), NASCUS has made the decision to postpone its annual National Meeting for state credit union regulators until later this year. The meeting  was scheduled to take place next week in New Orleans.

The NCUA Board issued a Final Interagency Policy Statement, Allowances for Credit Losses and approved Proposed Rule, Part 704, Corporate Credit Unions for a 60-day comment period. NASCUS President and CEO Lucy Ito issued statements in response to the meeting.

In response to NCUA’s request for comments on Proposed Rule: Real Estate Appraisals (RIN 3133-AE98), NASCUS wrote a comment letter supporting NCUA’s proposal to increase the threshold level below which licensed or certified appraisals (appraisals) would not be required for residential real estate-related transactions from $250,000 to $400,000. 

Today, NASCUS announced SchoolsFirst Federal Credit Union as the organization's newest member. As the largest credit union in California, SchoolsFirst FCU, with headquarters in Santa Ana, Calif., has more than 60 branches and has a mission to provide school employees and their families with World-Class Personal Service and financial security.

January 23, 2020 NASCUS PRESIDENT & CEO LUCY ITO ON THE JANUARY NCUA BOARD MEETING ARLINGTON, Va. – Today, the NCUA provided notice of rulemaking on Subordinated Debt and Credit Union-Bank...

January 16, 2020 NASCUS PRESIDENT & CEO LUCY ITO ON SUBORDINATED DEBT BEING CONSIDERED AT THE JANUARY NCUA BOARD MEETING ARLINGTON, Va. – Today, the NCUA Board announced that subordinated...

December 12, 2019 NASCUS PRESIDENT & CEO LUCY ITO ON THE DECEMBER NCUA BOARD MEETING ARLINGTON, Va. – Today, the NCUA Board approved the 2020-2021 Budget and delayed the effective date...

NASCUS President Lucy Ito responds to the NCUA Board providing notice of rulemaking on increasing the residential real estate threshold appraisal to $400,000 and approving the “Second Chance” policy change.