NCUA – Regulatory Report

What's up

[ March 30, 2023 ] Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks OCC
[ March 30, 2023 ] New small business lending reporting rule finalized after 13 years in the making CFPB
[ March 30, 2023 ] Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks The Fed
[ March 30, 2023 ] Credit union regulator lists 2023 criteria for collecting mortgage loan application data NCUA
[ March 29, 2023 ] May 3 is comment deadline for CFPB credit card late-fee proposal CFPB

Credit union regulator lists 2023 criteria for collecting mortgage loan application data

March 30, 2023 0

All credit unions with more than $54 million in assets will be required to collect data associated with mortgage loan applications processed in 2023, the federal credit union regulator said Thursday. In a “regulatory alert” […]

NCUA slates hearing on Dade County FCU request to also serve Broward County

March 24, 2023 0

A request by the $1.2 billion-assets Dade County Federal Credit Union for a community charter expansion to add Broward County to its field of membership (FOM) is slated for an online public hearing June 7 […]

Credit union regulator makes two key updates to tool for implementing CECL tool

March 23, 2023 0

Two key updates were made for the simplified tool credit unions may use to determine the impact of credit loss accounting standards on their financial statements, their federal regulator said Thursday. According to the National […]

NCUA annual report highlights challenges faced in 2022 and what’s ahead

March 21, 2023 0

Activities, policy initiatives, and accomplishments of the federal credit union regulatory agency throughout 2022 are detailed in its annual report released Tuesday. The National Credit Union Administration (NCUA) looked at the past year’s most significant […]

NCUA slates action on subordinated debt rule changes

March 10, 2023 0

Just one item is slated for consideration during the March 16 open meeting of the National Credit Union Administration (NCUA) Board: a final rule on subordinated debt. Issued last September, the proposed rule would extend […]

2,600 credit unions will receive payouts totaling $178 million as agency continues ‘corporate’ resolution

March 9, 2023 0

More than 2,600 credit unions will split $178 million in two payouts by their federal regulator, the legacy of actions to resolve the failures of “corporate” credit unions more than 10 years ago, the agency […]

First credit union to fail in ’23 is tiny, faith-based institution in Brooklyn, N.Y.

March 9, 2023 0

The first credit union to be shuttered in 2023 was a tiny institution in New York City after its federal regulator determined it was not operating safely and soundly, the agency said late Wednesday. Inter-American […]

Credit unions see growth in assets, savings and loans – but credit quality shows signs of flagging

March 8, 2023 0

Credit unions saw growth in assets, savings and – especially – loans last year, but also saw their return on average assets fall and experienced greater delinquencies and charge-offs from the year before, according to […]

Regulator slates March 22 loan risks webinar for credit unions

March 7, 2023 0

Registration is open now for a March 22 webinar hosted by the National Credit Union Administration, the agency said Tuesday. Titled “Loan Risks in a Changing Economy,” the 2 p.m. (Eastern) webinar will feature a […]

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Office of Financial Technology opens at OCC, with new leader, to bolster ability to deal with tech changes at banks

March 30, 2023 0

A new Office of Financial Technology, as well as the leader of that new department, was announced Thursday by the regulator of national banks. The new office, which the Office of the Comptroller of the Currency (OCC) said last fall [...]
New small business lending reporting rule finalized after 13 years in the making

March 30, 2023 0

A new rule requiring lenders to collect and report information about the small business credit applications they receive, including geographic and demographic data, lending decisions, and the price of credit, was finalized Thursday by the federal consumer financial protection bureau. [...]
Wells Fargo slapped with fines of nearly $98 million for ‘historical inadequate oversight’ of sanctions compliance risks

March 30, 2023 0

Fines of nearly $98 million were assessed against the holding company of Wells Fargo bank Thursday for its “historical inadequate oversight of sanctions compliance risks” which resulted in more than $530 million in prohibited transactions over a five-year period. The [...]
Credit union regulator lists 2023 criteria for collecting mortgage loan application data

March 30, 2023 0

All credit unions with more than $54 million in assets will be required to collect data associated with mortgage loan applications processed in 2023, the federal credit union regulator said Thursday. In a “regulatory alert” (23-RA-02), the National Credit Union [...]