NCUA – Page 111 – Regulatory Report

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[ April 18, 2024 ] Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank OCC
[ April 18, 2024 ] Credit union regulator seeks comments on how to improve, update records retention rules NCUA
[ April 18, 2024 ] Ombudsman’s report notes banker frustration over lack of communication with FDIC FDIC
[ April 18, 2024 ] OCC publishes semiannual interest rate risk report for midsize, community banks OCC
[ April 17, 2024 ] False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO CFPB

Former employee of closed MI credit union barred from FI service

August 30, 2018 0

Stanley D. Hayes, a former employee of the now-defunct Valley State Employees Credit Union (Saginaw, Mich.), has been barred by the federal regulator of credit unions from any future participation in the affairs of a […]

NCUA updating its consumer complaint records system; comments due Sept. 14

August 29, 2018 0

The federal regulator of credit unions is making some changes to its consumer complaints records system, including a change allowing information to be shared with other agencies when necessary to respond to a data breach. […]

First new FCU of year chartered; will serve Nepali American community, NCUA says

August 28, 2018 0

A federal charter and share insurance fund coverage for the new Everest Federal Credit Union (Jackson Heights, N.Y.), a credit union serving Nepali Americans, has been granted by the National Credit Union Administration, the agency […]

NCUA writes CUs on new BSA/AML rule on beneficial ownership, notes limits of its own lenience for good-faith efforts in ’18

August 27, 2018 0

A letter outlining examination expectations under the Financial Crimes Enforcement Network’s (FinCEN) beneficial ownership rule was issued Monday by the National Credit Union Administration and indicates the agency’s examiners will accept reasonable, good faith efforts […]

Bank, CU, securities regulators hold diversity and inclusion summit Sept. 13

August 22, 2018 0

Federal financial industry regulators will jointly host the first-ever Financial Regulatory Agencies’ Diversity and Inclusion Summit Sept. 13 in New York City, the federal agency that regulates credit unions said in an email announcement Monday. […]

FASB proposes amending transition requirements, scope of CECL standard

August 20, 2018 0

Amending the transition requirements and scope of the current expected credit losses (CECL) standard issued by Financial Accounting Standards Board (FASB) is the aim of a proposal issued Monday by the group. Comments are due […]

MI credit union merged after 6 months of conservatorship

August 20, 2018 0

A state-chartered, federally insured credit union in Warren, Mich., that was placed in conservatorship in late February was merged Friday into another credit union, the federal regulator of credit unions said. Ukrainian Future Credit Union […]

Credit union regulator taps veteran staffer to lead consumer protection efforts

August 20, 2018 0

Overseeing consumer financial protection policy and rulemaking efforts, among other things, for the federal credit union regulator will be the role of the new director for the agency’s office of consumer financial protection. The National […]

Proposal on credit union loan maturities, one-borrower limits slated for Federal Register

August 9, 2018 0

A proposed rule issued Aug. 2 on credit union loan maturities and limits on loans to one borrower is slated for publication Friday in the Federal Register. The proposal was issued with a 60-day comment […]

NCUA still eyeing alternative capital, payday-alternative loan proposals, McWatters tells group

August 9, 2018 0

Alternative capital for credit unions, addressed in a 2017 advance notice of proposed rulemaking (ANPR), is still on the agency’s regulatory radar, National Credit Union Administration (NCUA) Board Chairman J. Mark McWatters said Thursday in […]

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Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank

April 18, 2024 0

Another individual associated with a troubled lending program at a Southfield, Mich., bank has been ordered to pay a $400,000 civil money penalty (CMP), the national bank regulator said Thursday. The Office of the Comptroller of the Currency (OCC) said [...]
Credit union regulator seeks comments on how to improve, update records retention rules

April 18, 2024 0

Finding methods for improving and updating the records preservation program regulations and accompanying guidelines of the federal credit union regulator is the goal of an advance notice of proposed rulemaking (ANPR) issued Thursday by the agency’s board. The National Credit [...]
Ombudsman’s report notes banker frustration over lack of communication with FDIC

April 18, 2024 0

Challenges faced by the federal bank deposit insurance agency in its supervisory processes and the feedback received from regional ombudsmen and bankers are outlined in the agency ombudsman’s annual report, issued Thursday. The 2023 report from the Federal Deposit Insurance [...]
OCC publishes semiannual interest rate risk report for midsize, community banks

April 18, 2024 0

Interest rate risk (IRR) data gathered during examinations of midsize and community banks and federal savings associations (FSA) by the national bank regulator was published Thursday by the agency. The report, the Office of the Comptroller of the Currency’s (OCC) [...]
False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO

April 17, 2024 0

Deceiving students about the cost of loans and making false claims about graduates’ hiring rates have led to a consent order and a civil money penalty (CMP) against a San Francisco-based, for-profit vocational school and its CEO, the federal consumer [...]
‘Cautiously optimistic’ economic outlook noted in latest Beige report

April 17, 2024 0

Mixed results on consumer spending, “roughly flat” bank lending and some increases in residential construction and tourism were noted by the Federal Reserve in its April Beige Book report on economic conditions. The report is based on information collected on [...]