Dec. 18, 2020 NASCUS Report

THIS WEEK: After years in making, sub debt rule finally adopted … for NASCUS, a long time in coming; NCUA Board adopts one other final rule, proposes three more; New board member cites priorities; Budget, OTR under consideration today; NASCUS monitoring massive hack impact; Proposal seeks ‘prompt’ notice of security incidents at banks; BRIEFLY: Jobs in WA; GAO on leveraged lending impact; NASCUS Report holiday schedule

Sub debt rule adopted by NCUA after years of work by agency, states

(Dec. 18, 2020) Well-capitalized, federally insured credit unions could count subordinated debt as capital for risk-based net worth purposes under a new rule approved by the NCUA Board at its…

NASCUS: Final rule was long time in coming

(Dec. 18, 2020) NASCUS President and CEO Lucy Ito, in a press statement, praised the NCUA Board for finalizing the subordinated debt rule, noting the state system’s long support for…

Loan participations temp rule extended; 3 FCU proposals issued

(Dec. 18, 2020) In other action at Thursday’s meeting, the NCUA Board issued one final rule and three proposed regulations – with three of those approved on split votes after…

Hauptman eyeing three priorities for NCUA

(Dec. 18, 2020) Kyle Hauptman, sworn in as the latest (and 24th) member of the NCUA Board this week prior to participation in the Thursday and today’s board meetings, said…

Board set to decide 2021 budget/OTR today

(Dec. 18, 2020) With a rare second monthly meeting scheduled for today (Friday, Dec. 18), the full-complement NCUA Board will consider the 2021 budget for the agency, which includes an…

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 NASCUS Report

(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…

 

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