News stories tagged NCUA

On rules for AI, slow and steady is the ticket, NASCUS writes

(July 9, 2021) A slow, methodical approach should be taken to determining the best regulatory scheme to address the use of the developing technology of artificial intelligence/machine learning (AI/ML) by...

BRIEFLY: NCUA charters 2nd credit union of year; OCC ‘retires’ position of COO; NASCUS present at international CU regulators conference

(July 9, 2021) Community First Fund Federal Credit Union, of Lancaster, Penn., was chartered this week by NCUA, the second credit union chartered so far this year by the federal...

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...

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...

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...

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...

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...

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...

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...