July 16, 2021 NASCUS Report

THIS WEEK: NCUA Board to propose new CCULR rule; Agency begins onsite operations; Summaries outline two final rules … and letter to CUs on AML/CFT; 5 states mark accreditation; ECIP extension noted; Webinar on military consumer protections slated; ‘AROUND THE STATES: Joining IL’s #ilovemycreditunion, latest updates; NASCUS 101 just ahead; BRIEFLY: Welcome SingerLewak; Senate OKs top Treasury official; NASCUS participates in SLC, FFIEC

NCUA Board to propose new complex CU leverage ratio

(July 16, 2021) A proposed rule on a new complex credit union leverage ratio (CCULR) is on the agenda for a the NCUA Board when it meets next week in…

Agency to open phase 1 of onsite operations

(July 16, 2021) The “first phase” of NCUA’s plan to resume onsite operations – including exams — will begin Monday, the agency said this week, with staff and contractors permitted…

Summaries outline final rules on CECL, derivatives

(July 16, 2021) Summaries of two final rules – on transition to the new current expected credit loss (CECL) accounting standard, and on derivatives – have been posted on the…

Letter outlining priorities for AML/CFT summarized

(July 16, 2021) Rule changes to incorporate just-issued national priorities for combatting money laundering and financing of terrorism – as outlined in an NCUA Letter to Credit Unions (LTCU) late…

Five states celebrate NASCUS accreditation

(July 16, 2021) Agencies in five states – Idaho, Indiana, North Dakota, Tennessee and Vermont – are newly accredited under the association’s Accreditation Program, NASCUS announced this week. The agencies…

NCUA spreads word about ECIP extension

(July 16, 2021) A 14-day application extension is among the “clarifications and amendments” planned for the capital investment program created for community development financial institutions (CDFIs) and minority depository institutions…

Agencies plan webinar on military consumer protections

(July 16, 2021) A focus on consumer financial protections for military servicemembers and their families is the target of a webinar slated July 28 by NCUA, CFPB and the Federal…

AROUND THE STATES: Joining IL’s ‘I Love My CU,’ staying updated

(July 16, 2021) NASCUS has joined the “I Love My CU” program developed by the Illinois Credit Union League, and will participate in the July 30 social media platform effort…

Aug. 12 NASCUS 101 coming up quickly

(July 16, 2021) NASCUS 101 – the popular series of webinars that explains how NASCUS members can get the most out of their memberships – is just around the corner…

BRIEFLY: Welcome SingerLewak as latest associate member; Former Fed official to take Treasury office; NASCUS participates in FFIEC, SLC gatherings

(July 16, 2021) Welcome to accounting and consulting firm SingerLewak as the latest NASCUS associate member. Partner Sheila Balzer in the firm’s Denver operations is the leader for its expertise in state…

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