News stories tagged 21oct22
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LICUs may accept 30-year sub-debt ECIP
(Oct. 22, 2021) Eligible low-income credit unions (LICUs) may accept 30-year subordinated debt investments from a Treasury program meant to encourage the institutions to augment efforts to support small businesses...
At long last, joining 25 states, NCUA adopts ‘CAMELS’
(Oct. 22, 2021) An “S” for “market sensitivity” is now part of the NCUA exam rating system, thanks to a unanimous vote by the agency board at its Thursday meeting...
Congratulations to NCUA for joining states on ‘S’
(Oct. 22, 2021) NASCUS President and CEO Lucy Ito congratulated the NCUA Board for finalizing an “S” component (for market sensitivity) to the CAMEL rating system (making it now “CAMELS”)...
Risk alert focuses on email, wire fraud
(Oct. 22, 2021) Speaking of cybersecurity: Use of cloud-based email services are proving to be targets for cybercriminals, and credit unions need to take steps to thwart any exploitation and...
CCULR OK, but some considerations needed, NASCUS writes
(Oct. 22, 2021) The state system supports the NCUA proposed rule establishing a “complex credit union leverage ratio” (CCULR), as well as a quick implementation of a final regulation, but...
BRIEFLY: FedNow on track; Treasury scales back balance reporting proposal; Tech giants providing payment services ordered to give up info
(Oct. 22, 2021) “FedNow” – the Federal Reserve’s much-anticipated (and delayed) round the clock payment system – will be ready “sooner rather than later,” Federal Reserve Bank President Esther George...
Regulators ramp up guidance on LIBOR transition
(Oct. 22, 2021) Actions credit unions, banks and nonbanks alike should consider taking to ensure safe-and-sound practices during the transition away from the LIBOR reference rate were outlined in joint...
New security systems just in time for rising cyber threats
(Oct. 22, 2021) Ransonware risks and threats to credit unions and other financial institutions are rising considerably, the NCUA Board was told Thursday, noting that the method now accounts for...
CUSO rule expanding powers adopted – yet again by 2-1
(Oct. 22, 2021) In yet another split decision over the issue, a final rule giving CUSOs the power to originate any type of loan an FCU may originate – and...