News stories tagged NCUA
Some credit unions in line for $865 million corporate CU distribution
(July 2, 2021) More than $865 million will be distributed by September to credit unions that were account holders at three failed corporate credit unions as NCUA closes its program...
Agencies vow to alter rules reflecting new AML/CFT priorities
(July 2, 2021) Plans for future Bank Secrecy Act (BSA) rule changes to incorporate just-issued national priorities for combatting money laundering and financing of terrorism were outlined this week in...
BRIEFLY: Biden replaces FHFA director after high court ruling; FCU usury ceiling stays at 18%; TRANSITION: Murray retires at Vizo Financial Corporate; Congress votes to repeal ‘true lender’ rule
(June 25, 2021) The Supreme Court ruled this week that the director of the Federal Housing Finance Authority (FHFA) may be fired by the president, overturning the agency’s structure which...
Ito: State system welcomes CECL, loan capitalization rules
(June 25, 2021) NASCUS President and CEO Lucy Ito said the state system embraces both new rules, which the association had supported. On interest capitalization, Ito said the new rule...
Letter backs extending COVID-19 PCA relief
(June 25, 2021) Allowing otherwise healthy credit unions to continue to focus on serving their members through rules providing regulatory relief from prompt corrective action has once again won the...
NASCUS-supported rules finalized on interest capitalization, CECL impact
(June 25, 2021) Final rules on capitalization of interest by federally insured credit unions, and on mitigating the day-one effect of the current expected credit loss (CECL) accounting standard on...
A FICU advisory group for NCUA? Yes, please
(June 25, 2021) In another development during Thursday’s NCUA Board meeting, two members discussed the future of an advisory council from among the credit union system for NCUA – something...
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...
States keep more than half of assets, which neared $2 trillion at end of 1Q21
(June 11, 2021) Credit union assets mushroomed to a total of just under $2 trillion in the first quarter of the year – and state-chartered credit unions kept pace with...
Letter underscores PCA relief renewal
(June 11, 2021) Actions taken by the federal credit union regulator in April – extending temporary provisions giving credit unions some regulatory relief from savings surges during the coronavirus crisis...
Alert aims to clarify impact of Reg B interpretive rule
(June 4, 2021) Credit unions should ensure their policies, procedures, and training materials promote compliance with federal equal credit opportunity laws, and Regulation B administered by the CFPB, in line...