Latest developments from the NCUA (National Credit Union Administration), prudential regulator of federal credit unions and savings insurer for members of federal and state credit unions.
Civil money penalties (CMPs) ranging from a low of $150 to a high of $920, with a grand total of $4,133, are to be paid by 10 credit unions that filed late call reports for […]
Types of instances in which banks and credit unions may form collaborative arrangements to share resources to better manage their Bank Secrecy Act/anti-money laundering (BSA/AML) responsibilities are addressed in a statement issued jointly on Wednesday […]
Cybersecurity issues and lending bubbles top the list of potential risks to today’s financial system, according to comments offered by bank and credit union regulators during a hearing Tuesday on implementation of this year’s financial […]
As federal financial institution regulators spoke Tuesday to Senate Banking Committee members in testimony and during questions and answers, many words and terms were thrown about. But one term noticeably was left unsaid: EGRRCPA, as […]
Bank regulators were urged to move apace on efforts to tailor prudential standards for banks under $250 billion in assets during a Senate Banking Committee hearing Tuesday on implementation of the recently enacted financial reform […]
Regulators took a forward look in testimony Tuesday about recently enacted regulatory relief legislation, telling a Senate committee where they hope to go in coming weeks and months with their regulatory plans, and what more […]
Facilitating the sharing of member-to-member (MTM) communications when a federally insured credit union is merging with another is addressed in a letter to credit unions (LTCU) published Monday by their federal regulator. The National Credit […]
The sixth 2018 liquidation of a federally insured credit union was announced Monday by the National Credit Union Administration (NCUA): LOMTO Federal Credit Union (Woodside, N.Y.) was closed Sunday, with its members, most shares, some […]
An exemption from Bank Secrecy Act (BSA) customer identification program rules for loans made for the purchase of property and casualty insurance was approved by federal regulators Friday, effective as of Sept. 27, 2018. The […]
Five former credit union employees, one of whom was ordered to pay $1 million in restitution in addition to serving prison time for her crimes, have been barred from future involvement in the affairs of […]
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