Briefly – NASCUS

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BRIEFLY: Clarida resignation will leave three seats open on Fed Board; Powell testifies for a second term as chair

(Jan. 14, 2022) There will soon be three vacancies on the governing board of the nation’s central bank, as the current vice chair resigned, effective today (Jan. 14). Citing only...

BRIEFLY: Student loan payment moratorium extended; Notice reminds of housing protections for servicemembers; QRM definition unchanged for 2022; Fourth FCU chartered in 2021; Happy holidays – see you next year!

(Dec. 23, 2021) The moratorium on federal student loan payments is extended through May 1, the Biden Administration announced Wednesday, pushing the deadline back from its previous end point of...

BRIEFLY: SAFE Banking Act falls short of NDAA bill; watch for dues notices!

(Dec. 10, 2021) The latest version of the National Defense Authorization Act (NDAA) – must-pass, annual legislation that includes funding for the military, among other things — does not include...

BRIEFLY: Earl announces retirement as leader of three-state league; Inflation raises interest-rate risk concern; New debt collections rules now in force; NASCUS 101 next week; Welcome new member Michigan State U. FCU

(Dec. 3, 2021) Mountain West Credit Union Association President and CEO Scott Earl announced his retirement this week, saying he will step down at the end of June next year....

BRIEFLY: Tiny FCU conserved; Louisiana leader retires; OCC developing guidance on climate change risk; Exam Council revamps notification system

(Nov. 12, 2021) NCUA late last week placed the tiny Pomona Postal FCU of Pomona, Calif., into conservatorship, saying the credit union’s most recent call report shows it had 717...

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...

BRIEFLY: New laws in CA; Job openings in OR; Fed supervision vice chair loses a role

(Oct. 15, 2021) California legislation was signed into law this week, the California and Nevada Credit Union Leagues reported. The new law for state credit unions: allows expulsion of members...

BRIEFLY: Regulators collaborate on ‘crypto policy sprint;’ NCUA DEI Summit registration opens; Job openings in OR

(Sept. 17, 2021) Federal banking agencies have been collaborating via a “crypto policy sprint” to agree on definitions, use cases, risks, and gaps, and to discuss policy options related to...

BRIEFLY: Banks get more time to comment on third-party risk management guidance; Fact sheet looks at supply chain security

(Sept. 10, 2021) Banks have more time to comment on proposed guidance to help them manage third-party risk, with a new deadline of Oct. 18, the federal banking agencies said...

BRIEFLY: Discussion (and series) opens on digital currency; No NASCUS Report next week

(Aug. 27, 2021) Digital currency and related media (including non-fungible tokens and other blockchain technologies) was the subject of an in-depth discussion held this week among members of the NASCUS...

BRIEFLY: Complex credit union leverage ratio proposal published; Delta variant poses more economic risks; Agency plans webinar on modernized exam tools

(Aug. 20, 2021) A proposal by NCUA to create the new “complex credit union leverage ratio (CCULR)” framework — the credit union equivalent of the community bank leverage ratio (CBLR)...

BRIEFLY: Risk management director opening in MA; FCUs advised of 18% loan cap

(Aug. 6, 2021) The Massachusetts Division of Banks is looking for candidates to fill the position of chief director of risk management (safety & soundness) supervision. For more information, see...