NCUA – Page 104 – Regulatory Report

What's up

[ May 7, 2024 ] Report finds sexual harassment at FDIC went on ‘far too long’; board chairman’s role highlighted FDIC
[ May 7, 2024 ] Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds CFPB
[ May 7, 2024 ] BSA/AML deficiencies noted in Fed order with MT bank The Fed
[ May 7, 2024 ] Agencies nudged to act on coordinating identification, tackling of blockchain risks FDIC
[ May 6, 2024 ] Agencies re-issue proposal on incentive-based compensation; seek more risk-sensitive approach FDIC

2 former employees from IN, NY credit unions barred from future FI service

November 30, 2018 0

Two former credit union employees, including one from a large, now-defunct credit union formerly involved in the taxi medallion market, have been barred by the federal credit union regulator from any future involvement in the […]

2019 FCU operating fee schedule, calculator link sent via agency letter

November 29, 2018 0

The operating fee schedule for 2019 fees to be paid by federal credit unions to their regulatory agency was sent by the agency Thursday via a Letter to Federal Credit Unions, which shows operating fees […]

NCUA closing package schedule gets clean opinion

November 27, 2018 0

The federal credit union regulator received a clean opinion from auditors on its fiscal 2018 closing package schedule of other assets and contributed capital, the agency’s inspector general said in a report released recently. The […]

Against backdrop of expiring terms (and replacement nomination), CU regulators highlight bipartisanship

November 27, 2018 0

Emphasizing that bipartisanship is getting results at the federal credit union regulatory agency, the Republican chairman and the Democratic member of the agency’s board listed their accomplishments working together in a quarterly newsletter sent to […]

Credit union agency taps Leventis as next chief economist

November 26, 2018 0

Andrew Leventis, most recently the deputy chief economist for the Federal Housing Finance Agency (FHFA), will become the new chief economist for the National Credit Union Administration (NCUA) beginning Dec. 10, the agency announced Monday. […]

UPDATED: Proposed fidelity bond rule changes for credit unions out for comment until Jan. 22

November 21, 2018 0

A proposed rule to update and clarify the federal credit union regulatory agency’s requirements for fidelity bond coverages at corporate and natural-person credit unions was published Friday (Nov. 23) in the Federal Register, with comments […]

Board will meet 11 times in 2019 (as per usual), NCUA reveals

November 20, 2018 0

The federal credit union regulator board will meet 11 times in the new year, and skip an August meeting, according to a scheduled released by the agency Tuesday. The National Credit Union Administration (NCUA) said […]

UPDATED: Eight highlights, no actions against chairman, noted in CU regulator’s inspector general report

November 20, 2018 0

Eight actions – including a notice of charges against a former credit union chief executive and the closing of the credit union that individual led – are cited as “highlights” by the federal credit union […]

$745 million NCUSIF loss from 6 CU failures through September, agency says

November 19, 2018 0

The federal regulator of credit unions said in a release Friday that the $744.9 million in loss to the credit union federal share insurance fund in the in the first three quarters of 2018, resulting […]

In wake of deadly/devastating CA wildfires, regulators vow assistance to institutions

November 16, 2018 0

Federal and state financial institution regulators teamed up Thursday to offer regulatory assistance to financial institutions affected by the wildfires in California that have killed scores of people, left hundreds unaccounted for, and made thousands […]

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Report finds sexual harassment at FDIC went on ‘far too long’; board chairman’s role highlighted

May 7, 2024 0

A failure to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct went on “for far too many employees and for far too long,” according to a report issued Tuesday by a special committee of the board [...]
Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds

May 7, 2024 0

The financial-technology (fintech) firm Chime Financial must pay a $3.25 million civil money penalty (CMP) and provide at least $1.3 million in consumer redress for its failure to timely provide consumers their account balance refunds after they closed their accounts, [...]
BSA/AML deficiencies noted in Fed order with MT bank

May 7, 2024 0

First Citizens Bank of Butte, Butte, Mont., is required to bring its operations into compliance with Bank Secrecy Act (BSA) anti-money laundering (AML) rules and regulations under an agreement announced Tuesday by the Federal Reserve Board. In the May 2 [...]
Agencies nudged to act on coordinating identification, tackling of blockchain risks

May 7, 2024 0

Identifying and addressing blockchain risks needs to be addressed by two federal banking regulators, as recommended last year, according to a report issued Tuesday by the congressional watchdog. In separate reports on “open priority recommendations,” the congressional Government Accountability Office [...]
Agencies re-issue proposal on incentive-based compensation; seek more risk-sensitive approach

May 6, 2024 0

Incentive-based compensation arrangements are addressed in a proposal to make those more sensitive to risk was issued – or scheduled to be adopted — Monday by federal banking and credit union regulators, among others. The proposal was first advanced nearly [...]
Banks’ senior loan officers cite tightened standards, weaker demand for C&I, CRE loans in first quarter

May 6, 2024 0

Tightening loan standards and weaker demand were reported for many commercial and consumer loan categories by senior loan officers at large banks participating in the Federal Reserve’s April Senior Loan Office Opinion Survey (SLOOP), according to the report released Monday. [...]
Student loan firms charged with servicing failures, face north of $5 million in fines, redress

May 6, 2024 0

“Multi-year servicing failures” are claimed against two organizations engaged in student lending under action taken Monday by the federal consumer financial protection agency seeking more than $5 million in penalties and redress, the agency said. The National Collegiate Student Loan [...]
Credit union regulator delays board meeting for May by about one week

May 6, 2024 0

A rescheduled meeting – to May 22 – was announced Monday by the federal credit union regulator’s board, changing the date from May 16. The National Credit Union Administration (NCUA) Board gave no reason for the rescheduling. The May 22 [...]