June 18, 2021 NASCUS Report
Posted June 18, 2021THIS WEEK: Final rules on interest capitalization, CECL mitigation before NCUA Board … coming up soon: rules on CAMELS, CCULR; CFPB to examine again for MLA compliance; Bureau expecting proposal on small biz data collection; State system marks Juneteenth commemoration; Two appointed to CU Advisory Council; First 2021 NASCUS 101 next week; TRANSITIONS: In CA, PA; BRIEFLY: 2020 HMDA data available; Bank insurance fund sank to 1.25% reserve ratio.
Rules on interest capitalization, CECL on NCUA Board agenda
(June 18, 2021) Two final rules – on mitigating the impact of the new CECL accounting standard, and allowing credit unions to capitalize interest, which NASCUS urged be finalized “expeditiously”…
Also coming up soon: rules on CAMELS, CCULR
(June 18, 2021) Other new and proposed rules that should be coming up for action soon by the NCUA Board were also outlined in the spring 2021 regulatory agenda published…
Bureau to resume exams under Military Lending Act
(June 18, 2021) Military Lending Act-related examinations will now resume by the CFPB, the agency said this week, asserting that the prior administration’s reasoning for discontinuing the reviews were not…
CFPB expects proposal on small biz data collection
(June 18, 2021) Collection, reporting, and public disclosure of data concerning credit applications made by women-owned, minority-owned, and small businesses will be the subject of a proposed rule by the…
NASCUS, marking Juneteenth, recommits to equality, respect
(June 18, 2021) The designation of a federal holiday to mark Juneteenth – the commemoration of the emancipation of enslaved people in the United States – is both a time…
Two named to NASCUS CU Advisory Council
(June 18, 2021) Two state credit union CEOS have been named to the NASCUS Credit Union Advisory Council by Council Chairman Mike Williams, one completing a three-year term of a…
NASCUS 101 series kicks off next week
(June 18, 2021) Just a reminder that the first NASCUS 101 for 2021 – the popular series of webinars that explains how NASCUS members can get the most out of…
TRANSITIONS: In CA, Alvarez steps down; in PA, retirement (and new CEO) for NBCU
(June 18, 2021)Manuel P. (“Manny”) Alvarez, commissioner of the California Department of Financial Protection and Innovation (since March 2019) is stepping down today. According to press reports, he wants to…
BRIEFLY: 2020 mortgage lending data available; FDIC’s DIF falls to 1.25% (no change in assessments)
(June 18, 2021) 2020 mortgage lending transactions at 4,475 U.S. financial institutions reported under HMDA are now available, the FFIEC said Thursday. Covered institutions include credit unions, banks, savings associations…
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