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[ June 1, 2020 ] New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system COVID-19 actions
[ June 1, 2020 ] McWilliams welcomes OCC acting comptroller Brooks to FDIC Board FDIC
[ June 1, 2020 ] Watchdog secured 27 convictions through 55 investigations; collected $3 billion-plus in fines and more, report notes FDIC
[ June 1, 2020 ] Credit union regulator slaps three with prohibitions NCUA
[ June 1, 2020 ] First credit union of 2020 fails; third of year (so far) for federally insured financial institutions FDIC

Credit union regulator slaps three with prohibitions

June 1, 2020 0

Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft. […]

First credit union of 2020 fails; third of year (so far) for federally insured financial institutions

June 1, 2020 0

The first credit union failure in 2020 was announced Friday by the federal credit union regulator – and the third federally insured financial institution to fail this year so far – as the agency took […]

After almost a month, interagency policy statement on credit losses accounting (CECL), guidance on credit risk review systems, available Monday

May 29, 2020 0

Nearly a month after they were finalized, a policy statement on credit losses accounting (under the current expected credit losses, or CECL, accounting standard) and guidance on credit risk review systems are both scheduled to […]

Temporary PCA rule changes in effect now for credit unions; comments due June 29

May 28, 2020 0

An interim final rule that relieves credit unions of the earnings transfer requirement when they drop from “well capitalized” to “adequately capitalized” status and eases net worth restoration plan documentation for “undercapitalized” credit unions takes […]

Agency continues offsite exam program, but signals that exam reports will once more be issued

May 28, 2020 0

The federal credit union regulator is continuing its offsite exam and supervision work as a result of the coronavirus crisis but expects to return to issuing examination reports, according to a second letter to credit […]

Letter outlines new methodology for counting military as ‘low-income’ credit union members

May 28, 2020 0

Designating military personnel as “low-income” credit union members, announced May 7, requires some changes in how the federal credit union regulator counts those members – but that won’t require federally insured credit unions (FICUs) to […]

Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action

May 28, 2020 0

Title: Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action Subject: Prompt corrective action; coronavirus response Agency: NCUA Status: Interim final rule Summary: The NCUA Board (Board) is temporarily modifying certain regulatory requirements to […]

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New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system

June 1, 2020 0

The “stability and orderly functioning of the financial system” is potentially threatened by local orders of mayors and governors, the acting top federal regulator of national banks said Monday. In letters to groups representing state and local governments, Acting Comptroller [...]
McWilliams welcomes OCC acting comptroller Brooks to FDIC Board

June 1, 2020 0

The head of the Federal Deposit Insurance Corp. (FDIC) on Monday issued a statement welcoming the acting head of the Office of the Comptroller of the Currency (OCC) to the FDIC Board, noting she looked forward to working with him [...]
Watchdog secured 27 convictions through 55 investigations; collected $3 billion-plus in fines and more, report notes

June 1, 2020 0

Of the 55 investigations opened by the federal insurer of bank deposits’ watchdog, 27 resulted in convictions – and others resulted in fines and restitution of more than $3 billion, the agency said in its report for Oct. 1, 2019, [...]
Credit union regulator slaps three with prohibitions

June 1, 2020 0

Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft. The National Credit Union Administration [...]
First credit union of 2020 fails; third of year (so far) for federally insured financial institutions

June 1, 2020 0

The first credit union failure in 2020 was announced Friday by the federal credit union regulator – and the third federally insured financial institution to fail this year so far – as the agency took action to shutter a $7.7 [...]

Credit union regulator slaps three with prohibitions

First credit union of 2020 fails; third of year (so far) for federally insured financial institutions

After almost a month, interagency policy statement on credit losses accounting (CECL), guidance on credit risk review systems, available Monday

Temporary PCA rule changes in effect now for credit unions; comments due June 29

Agency continues offsite exam program, but signals that exam reports will once more be issued

Letter outlines new methodology for counting military as ‘low-income’ credit union members

Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action

BSA webinar slated June 17 for credit unions, will cover training matters, case studies

NCUA’s Hood, writing FCC, backs idea of allowing some auto-dialed calls to consumers under emergency exception

NCUA on-demand webinar gives overview of Central Liquidity Facility enhancements under CARES Act, more

New, acting comptroller enters coronavirus political fray, urging state, local officials to consider impact of ‘lockdowns’ on banking system

McWilliams welcomes OCC acting comptroller Brooks to FDIC Board

Watchdog secured 27 convictions through 55 investigations; collected $3 billion-plus in fines and more, report notes

Credit union regulator slaps three with prohibitions

First credit union of 2020 fails; third of year (so far) for federally insured financial institutions