Sept. 24, 2021 NASCUS Report

THIS WEEK: NCUA Board proposes more room for LICUs on sub debt; 3 rules under consideration over 3 months; Ito comments on board actions; Review of state biz loan rule highlights need for dialogue; 7 new positions win budget green light; States hold slight edge in loans, savings; CFPB updates CUAC membership; AROUND THE STATES: In Pelican State, living the mission; Two upcoming events bolster dual charter; BRIEFLY: OCC leader nominated for five-year term; NCUA ‘not aggressive enough’ on taxi cabs; SAFE Banking Act moves ahead again

Proposal gives LICUs more room on sub debt

(Sept. 24, 2021) A proposed change to the new subordinated debt rule to accommodate credit union access to federal investment programs – but making no other changes to the rule…

Board agrees to consider finalizing three rules

(Sept. 24, 2021) Earlier in the meeting, the NCUA Board voted – 2-1, with Harper the “no” vote – to act on three outstanding proposed rules over the span of…

Ito acknowledges changes needed to sub debt rule

(Sept. 24, 2021) NASCUS President and CEO Lucy Ito agreed with the NCUA Board for proposing the secondary capital changes to the subordinated debt rule scheduled to take effect at the…

NASCUS: Review of state biz loan rule highlights need for dialogue

(Sept. 24, 2021) In yet more action at its Thursday meeting, the NCUA Board approved a state member business lending rule in Oregon for exemption from NCUA’s revised member business…

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7 new positions approved for NCUA after budget review

(Sept. 24, 2021) In other action Thursday, the NCUA Board: Approved “midsession budget review” action that will use a $15 million 2021 budget surplus (realized through savings on curtailed travel…

States hold slight edge in total savings, loans

(Sept. 24, 2021) Savings expanded at a slightly quicker pace at state-chartered credit unions than at federal credit unions in the first half of the year, while lending at federals…

States, FCUs split membership in CUAC

(Sept. 24, 2021) Four representatives of state-chartered credit unions are joining four representatives of federal credit unions as members of the CFPB’s Credit Union Advisory Council (CUAC), according to an…

AROUND THE STATES: In LA, living the CU mission

(Sept. 24, 2021) Credit unions have long prided themselves as the financial institutions that put consumer members and communities first – and responses to last month’s hurricane by a Louisiana…

Upcoming CURE, Exchange events bolster dual charter

(Sept. 24, 2021) Two key events from NASCUS aimed at supporting and building the credit union dual chartering system are coming up over the next several weeks, part of the…

BRIEFLY: Law professor picked to lead OCC; NCUA did not act aggressively enough on taxi CUs, GAO asserts; Cannabis-protection bill advances in House

(Sept. 24, 2021) Saule T. Omarova, a Cornell University law professor, is President Joe Biden’s (D) pick as nominee to a five-year term for Comptroller of the Currency, the White…

 

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