NCUA – Regulatory Report

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[ July 16, 2019 ] Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds CFPB
[ July 16, 2019 ] In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules FDIC
[ July 16, 2019 ] UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor FDIC
[ July 15, 2019 ] Call reports due at end of month, but not yet for ‘streamlined’ reports for smaller banks (due after 3Q) FDIC
[ July 15, 2019 ] Week ahead: Deposit insurer, credit union regulator boards meet; Powell speaks in Paris NCUA

Week ahead: Deposit insurer, credit union regulator boards meet; Powell speaks in Paris

July 15, 2019 0

Two federal financial regulator boards hold meetings this week, and the chairman of the Federal Reserve Board talks about monetary policy 75 years after the global financial Bretton Woods agreement was reached. The Federal Deposit […]

Six credit unions agree to pay penalties for being late with year-end ’18 call reports

July 15, 2019 0

Six credit unions will pay just more than $5,000 in civil money penalties (CMPs) for filing late call reports for the end of 2018, according to agreements the credit unions reached with their federal regulator. […]

NCUA’s Harper selects top counsel for staff; former consumer bureau congressional liaison

July 12, 2019 0

A former Consumer Financial Protection Bureau (CFPB) congressional liaison is now the top staff aide to the newest member of the NCUA Board, the agency announced Friday. Catherine Galicia is now senior policy counsel to […]

Credit unions urged to take precautionary steps in face of oncoming Hurricane Barry

July 12, 2019 0

Steps to protect staff, and security of operations, are being advised for credit unions in the path of Tropical Storm Barry as it heads toward the Gulf Coast states, the National Credit Union Administration (NCUA) […]

NCUA final rules on appraisals, fidelity bonds slated; more

July 11, 2019 0

Credit unions may see a final rule approved next week that would remove the need to obtain real estate appraisals for certain commercial real estate loans under $1 million. The National Credit Union Administration (NCUA) […]

Recent Reg CC changes outlined for credit unions in NCUA update

July 8, 2019 0

Changes made recently to parts of Regulation CC, which implements the Expedited Funds Availability Act (EFAA), are highlighted for credit unions in a new Consumer Financial Protection Update issued Monday by the National Credit Union […]

Availability of Funds and Collection of Checks (Regulation CC)

July 8, 2019 0

Title: Availability of Funds and Collection of Checks (Regulation CC) Subject: Reg CC Agency: CFPB, Federal Reserve Status: Final rule Summary: The Board and the Bureau (Agencies) are amending Regulation CC, which implements the Expedited […]

More CUs submit diversity self assessments; some advancement noted

July 2, 2019 0

While only 81 credit unions submitted a diversity self-assessment form last year, more than half that did so (57%) reported a “leadership/organizational” commitment to diversity at their institutions, the federal credit union regulator reports. In […]

Former CU employee earns prohibition after converting $20k in funds for own use

June 28, 2019 0

A former employee of an Orange, Texas, credit union was prohibited last month from serving at a federally insured financial institution after allegedly pilfering $20,000 from the institution, the federal regulator of credit unions said. […]

Comments due July 26 on NCUA’s proposed two-year delay of risk-based capital for credit unions

June 26, 2019 0

A proposed rule to delay implementation of a risk-based capital rule for federally insured credit unions by two years to Jan. 1, 2022, is in Wednesday’s Federal Register with a public comment deadline of July […]

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Consumer bureau needs to better communicate its expectations for accuracy, dispute investigations for consumer reporting agencies, GAO finds

July 16, 2019 0

Expectations about reasonable procedures for assuring maximum possible accuracy, and reasonable investigations of consumer disputes, should be communicated to consumer reporting agencies (CRAs) by the federal consumer financial protection agency, the congressional watchdog said in a report issued Tuesday. The [...]
In their own words: McWilliams, Gruenberg on opposite sides of final, proposed rules

July 16, 2019 0

In Tuesday’s meeting of the Federal Deposit Insurance Corp. (FDIC) Board, Chairman Jelena McWilliams and Board Member Martin Gruenberg – the only two appointed members of the board – stood on opposite sides of two key issues before the board. [...]
UPDATED: FDIC leaders split on final rule for insurance determination, proposed rule on securitization safe harbor

July 16, 2019 0

The two appointed members of the federal bank deposit insurer board split on approval of final and proposed rules at their meeting Tuesday, with one citing an erosion of safeguards adopted in the wake of the financial crisis as his [...]