Nov. 13, 2020 NASCUS Report

THIS WEEK: Election opens prospects for leadership changes; Biden names agency transition teams; Corporate rule takes effect Dec. 14; Hood seeks CLF changes from Congress; Summary outlines supervisory guidance plan; TRANSITIONS: KS nominates successor to Wright; AK names interim replacement for Walsh; Lacy-Roberts sets retirement in WA; BRIEFLY: NCUA sets agenda for Nov. 19 meeting; FL gains a state charter; Fed nominee to get vote; Consumer credit reporting detailed

Election results present prospects for changes at top of key agencies

(Nov. 13, 2020) Last week’s election results – in which Democrat (and former vice president) Joseph R. Biden claimed more electoral votes than Republican (and incumbent) President Donald Trump, as…

Biden team lists transition ‘agency review teams’

(Nov. 13, 2020) An “agency review team” for federal financial regulators, including NCUA, to assist in the transition from the administration of President Donald Trump to that of President-elect Joe…

New corporate rule provisions take effect Dec. 14

(Nov. 13, 2020) NCUA’s new, revised rule on corporate credit unions – addressing at least five key areas in current rules, including permitting the institutions to make a minimal investment…

Hood outlines CU performance, outlook; seeks CLF changes

(Nov. 13, 2020)Despite the financial impact of the coronavirus crisis, federally insured credit unions performed well and remain well capitalized – although there are still challenges ahead, NCUA Board Chairman…

Summary highlights supervisory guidance proposal

(Nov. 13, 2020) NASCUS has posted a new summary of a proposal by federal financial institution regulators – including NCUA and CFPB – aimed at clarifying and codifying the role…

TRANSITIONS: KS governor nominates successor to Wright; AK names interim replacement for Walsh; WA’s Lacy-Roberts to retire

(Nov. 13, 2020) Vickie Hurt would lead the Kansas Department of Credit Unions under a nomination announced this week by Gov. Laura Kelly (D) to replace retiring Administrator Jerel Wright. He…

BRIEFLY: NCUA Board sets Nov. 19 meeting agenda; FL gains a state charter; Fed nominees to get vote; Payment reporting grew for mortgages, fell for credit cards, CFPB report finds

(Nov. 13, 2020) The NCUA Board has scheduled a 2020 budget update and reprogramming, as well as an item on the agency’s rules and regulations, “Capitalization of Interest” as agenda items…

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