NCUA – Regulatory Report

What's up

[ April 20, 2021 ] Three-hour virtual event on CECL to look at technical issues, including PCDs, TDRs Other
[ April 20, 2021 ] Mission-Driven Bank Fund could begin accepting funding pitches in third quarter, McWilliams says FDIC
[ April 20, 2021 ] Six banks earn ‘outstanding’ evaluations for CRA; one ‘needs to improve’ OCC
[ April 19, 2021 ] Rule clarifies tenants may sue debt collectors for evictions carried out during pandemic moratorium CFPB
[ April 19, 2021 ] Treasury lays out climate policy strategy focusing on finance, tax policy, financial risks Other

Agency extends temporary provisions giving reg relief to credit unions seeing savings surges during pandemic

April 16, 2021 0

Temporarily reducing the earnings retention requirement for credit unions classified as adequately capitalized, and permitting an undercapitalized credit union to submit a streamlined net worth restoration plan if it becomes undercapitalized predominantly because of share […]

NCUA Board to be briefed on cybersecurity, PCA interim final rule

April 15, 2021 0

The April 22 virtual open meeting of the governing board of the federal credit union regulatory agency will include two briefings but no action items, according to the agenda posted Thursday. The board is set […]

Report details credit union agency’s efforts in hiring people of color, achieving diversity in upper ranks

April 14, 2021 0

Two in five of new hires (42.1%) in 2020 were people of color, and gender diversity among senior executives achieved parity last year for the first time, the federal credit union regulator said Wednesday in […]

Harper names Samuel Schumach deputy director for NCUA external affairs/comms

April 12, 2021 0

Samuel Schumach was named Monday to the post of deputy director for external affairs and communications at the National Credit Union Administration (NCUA). Appointed to that post by agency board Chairman Todd Harper, Schumach previously […]

Agencies invite feedback on principles in BSA/AML risk management guidance

April 9, 2021 0

Feedback on how much the principles in the 2017 interagency “Supervisory Guidance on Model Risk Management” support compliance by banks and credit unions with Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control […]

Request for Information and Comment: Extent to Which Model Risk Management Principles Support Compliance with Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Requirements

April 9, 2021 0

Title: Request for Information and Comment: Extent to Which Model Risk Management Principles Support Compliance with Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Requirements Subject: BSA/AML, OFAC compliance Agency: FDIC, Federal Reserve, […]

NCUA has $1.5 million for grants to low-income credit unions in 2021 focused on digital/cyber efforts, MDIs, underserved

April 6, 2021 0

Approximately $1.5 million in awards to support digital services and cybersecurity, mentoring of small minority depository institution (MDI) credit unions, and service to underserved communities will be available to low-income-designated credit unions during 2021, the […]

IN credit union shuttered after brief conservatorship; first liquidation of 2021

March 31, 2021 0

The tiny Indianapolis’ Newspaper Federal Credit Union in Indianapolis, Ind., conserved in January, on Wednesday became the first federally insured credit union closed in 2021, its federal regulator announced. The National Credit Union Administration (NCUA) […]

Credit union regulator board chair to lead federal examination council

April 1, 2021 0

Credit union regulator board Chairman Todd Harper has been named chairman of the umbrella group that coordinates actions of federal financial institution regulators, the group said Thursday. Harper, chairman of the National Credit Union Administration […]

Not a goodfella: former Iowa credit union worker prohibited after copping guilty plea to bank fraud

March 31, 2021 0

A former Iowa credit union worker was prohibited from ever again working in a federally insured financial institution after being sentenced on a charge of bank fraud, the credit union federal regulator said Wednesday. According […]

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Three-hour virtual event on CECL to look at technical issues, including PCDs, TDRs

April 20, 2021 0

Implementation of the new current expected credit losses (CECL) accounting standard – particularly technical issues related to purchased financial assets with credit deterioration and troubled debt restructurings – will be the subject of a three-hour virtual event scheduled for mid-May, [...]
Mission-Driven Bank Fund could begin accepting funding pitches in third quarter, McWilliams says

April 20, 2021 0

The stand-up of the Mission-Driven Bank Fund by the federal agency that insures bank deposits has made some strides, with a financial advisor and two law firms now engaged to develop the fund’s framework, structure, and concept of operations, the [...]
Six banks earn ‘outstanding’ evaluations for CRA; one ‘needs to improve’

April 20, 2021 0

Six of 15 banks in recent anti-redlining performance evaluations were rated “outstanding” by the regulator of national banks in results released Tuesday; one bank, the agency said, “needs to improve.” It its regular monthly release of performance evaluations for bank [...]