NCUA – Regulatory Report

What's up

[ August 7, 2020 ] OCC says assessment reduction to take effect Sept. 7 (for collections due Sept. 30) COVID-19 actions
[ August 7, 2020 ] Regulator awards nine banks with ‘outstanding’ evaluation ratings for anti-redlining efforts OCC
[ August 7, 2020 ] Credit union regulator clangs warning bell on fraud linked to coronavirus crisis NCUA
[ August 6, 2020 ] Capital One hit with $80 million civil money penalty over 2019 data breach OCC
[ August 6, 2020 ] In announcing some details for FedNow, central bank sets broad target date of 2023-24 for initial operations The Fed

Credit union regulator clangs warning bell on fraud linked to coronavirus crisis

August 7, 2020 0

Risk of fraud associated with the financial impact of the coronavirus crisis is the emphasis of a new risk alert issued Thursday by the federal regulator of credit unions. The alert (20-RISK-02) from the National […]

NCUA’s Harper appointed to NeighborWorks America board

August 6, 2020 0

National Credit Union Administration (NCUA) Board Member Todd Harper was named Thursday by the agency’s chairman to the board of NeighborWorks America, a public-private organization that works to promote affordable housing and community development, the […]

Nominee for credit union regulator board advances after criticism from panel’s top Democrat

August 5, 2020 0

The nomination of a new member to the board of the federal regulator of credit unions was recommended for confirmation by the Senate Banking Committee Wednesday, but only after receiving some opposition by the panel’s […]

Regulator urges more credit unions to complete diversity self-assessment

August 3, 2020 0

More credit unions are being urged by their federal regulator to complete the Annual Voluntary Credit Union Diversity Self-Assessment as a “small step” toward real changes in social justice, according to a letter from the […]

Former FL credit union worker prohibited after sentencing for ID theft, embezzlement, fraud

July 31, 2020 0

Sentencing on charges of identity theft, embezzlement, fraud, and theft led to the prohibition of a Florida credit union employee from future participation in the affairs of any federally insured financial institution, the federal credit […]

Combined statistical area with population up to 2.5 million once again deemed a ‘well-defined’ local community an FCU may serve

July 30, 2020 0

A federally chartered credit union will once again be able to seek to serve a combined statistical area (CSA) as a “well-defined” local community if that area has a population no greater than 2.5 million […]

NCUA operating fee rule changes would exclude PPP loans, revise asset calculation; comments sought on op fee, overhead transfer rate methodologies

July 30, 2020 0

A proposed rule to revise how federal credit union (FCU) assets are calculated for operating fee assessment purposes and another on the methodologies used in setting the agency’s operating fee schedule and overhead transfer rate […]

CECL’s ‘day one’ effects on credit union capital would be phased in over 3 years under proposed rule

July 30, 2020 0

A proposal that would phase in over three years the “day one” adverse effects on credit unions’ regulatory capital under the “current expected credit losses” (CECL) accounting standard, but which would exempt small credit unions […]

Hood reiterates board’s plan for CECL action Thursday in remarks to credit union group

July 29, 2020 0

Queuing up Thursday’s planned action regarding the credit loss accounting standard, National Credit Union Administration (NCUA) Board Chairman Rodney Hood told a credit union group Wednesday that he remains concerned about the standard’s potential impact […]

August webinar focuses on credit union lending to small-business exporters

July 28, 2020 0

A webinar for credit unions, “Export Financing for Your Small Business Members,” will be hosted Aug. 19 by the National Credit Union Administration (NCUA) and feature Export-Import Bank staff providing a look at the bank’s […]

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OCC says assessment reduction to take effect Sept. 7 (for collections due Sept. 30)

August 7, 2020 0

An interim reduction of assessments charged by the federal regulator of national banks goes into effect Sept. 7, to be reflected in assessments paid Sept. 30, the agency said in a release Friday. The Sept. 7 effective date was noted [...]
Regulator awards nine banks with ‘outstanding’ evaluation ratings for anti-redlining efforts

August 7, 2020 0

Nine banks earned ratings of “outstanding” for compliance with anti-redlining rules by the regulator of national banks in July, the agency said Friday – accounting for 30% of all evaluations publicly released last month. The Office of the Comptroller of [...]
Credit union regulator clangs warning bell on fraud linked to coronavirus crisis

August 7, 2020 0

Risk of fraud associated with the financial impact of the coronavirus crisis is the emphasis of a new risk alert issued Thursday by the federal regulator of credit unions. The alert (20-RISK-02) from the National Credit Union Administration (NCUA) notes [...]