NCUA – Page 2 – Regulatory Report

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[ April 3, 2020 ] W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis) FDIC
[ April 3, 2020 ] Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions FDIC
[ April 3, 2020 ] Banking agencies’ interim rule delaying CECL impact out for comment until May 15 FDIC
[ April 3, 2020 ] Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act CFPB
[ April 3, 2020 ] 30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows CFPB

UPDATED: Agencies postpone Friday webinar clarifying guidance on troubled debt restructuring in face of coronavirus crisis

March 27, 2020 0

The banking agencies postponed a joint webinar initially set for 2 p.m. ET Friday dealing with troubled debt restructuring (TDR) in the context of working constructively with borrowers affected by the coronavirus crisis. The agencies […]

Report: Treichel leaving NCUA executive director post early

March 26, 2020 0

The executive director of the federal credit union regulatory agency is leaving his post earlier than originally planned, a credit union industry trade report said Thursday. The National Credit Union Administration (NCUA) earlier announced that […]

Financial regulators encourage small-dollar lending amid coronavirus crisis; more guidance, lending principles to come

March 26, 2020 0

Banks, savings associations, and credit unions were urged in a statement by regulators Thursday to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19, the illness caused by the novel coronavirus. […]

Exam council: Regulators won’t take action for late filing of call reports; offer 30-day window

March 25, 2020 0

Financial institutions will not face any action for filing a call report after the due date of March 31, as long as the institution files the report within 30 days of the due date, the […]

Regulator announces grant availability for low-income credit unions affected by coronavirus crisis

March 23, 2020 0

Grants to cover unexpected costs – including for such things as computers, software, consulting services and more – related to providing financial services and assistance to members affected by the coronavirus crisis are available to […]

Agencies pledge ‘hands off’ approach as they urge financials to work with borrowers

March 23, 2020 0

Federal and state regulators – in urging financial institutions to work with borrowers on the financial impact of the coronavirus crisis – on Sunday pledged a “hands off” policy for banks, credit unions, and savings […]

With bylaw change, federal credit unions may hold annual meetings virtually; other flexibilities outlined by agency

March 23, 2020 0

A letter outlining options for federal credit unions (FCUs) to conduct annual meetings virtually, or to postpone them, to promote the social distancing called for in connection with the coronavirus pandemic was issued Friday by […]

NCUA 2019 annual report outlines reg initiatives, industry stats, share insurance fund financials

March 23, 2020 0

The federal regulator of credit unions late Friday released its 2019 annual report, which recaps the agency’s actions to create a regulatory framework that is “effective without being excessive,” including the agency board’s decision to […]

New York Fed launches online resource ‘hub’ on coronavirus; FDIC, OCC, NCUA also have Info pages

March 20, 2020 0

A resource “hub” with curated information for business owners, employees, nonprofit, and community organizations impacted by the coronavirus (COVID-19) was launched Friday by the Federal Reserve Bank of New York. This web page is organized […]

NCUA’s coronavirus web page links to FAQs, letters to credit unions, FFIEC guidance

March 20, 2020 0

Federally insured credit unions looking for information to help them navigate the coronavirus (COVID-19) crisis can find resources and guidance via a new web page launched recently by the National Credit Union Administration (NCUA). Plans […]

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W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis)

April 3, 2020 0

The second bank failure of the year was reported Friday by the federal insurer of bank deposits, as it announced a purchase and assumption for a West Virginia institution with another from the Mountain State. The First State Bank of [...]
Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions

April 3, 2020 0

The comment period on proposed rule changes on brokered deposits restrictions applicable to less-than-well-capitalized banks is extended 60 days to June 9, according to the Federal Deposit Insurance Corp. (FDIC), which pointed to the challenges associated with the coronavirus (COVID-19). [...]
Banking agencies’ interim rule delaying CECL impact out for comment until May 15

April 3, 2020 0

Federal banking agencies’ recent decision to delay the estimated impact on regulatory capital stemming from implementation of the accounting industry governing board’s current expected credit losses (CECL) standard took effect officially on March 31, and regulators are accepting comments from [...]
Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act

April 3, 2020 0

A video and a guide to “mortgage relief options” have been developed by the federal consumer financial protection agency with an eye, the agency says, toward explaining to consumers how they can score mortgage forbearance if their finances are affected [...]
30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows

April 3, 2020 0

Of total complaints received by the federal consumer financial protection agency in fiscal 2019 (Oct. 1, 2018, to Sept. 30, 2019), nearly one-third of them – 10,500, or 30% – were about credit or consumer reporting, according to a report [...]
Four banks ‘outstanding,’ 63 ‘satisfactory’ under CRA, FDIC reports

April 3, 2020 0

Of the 67 banks whose Community Reinvestment Act (CRA) ratings were assigned in April, none was found wanting, with four rated ‘outstanding’ and 63 rated ‘satisfactory,’ the federal bank deposit insurer reported Friday. In April, the Federal Deposit Insurance Corp. [...]
CFPB says supervision is ongoing, with adjustments due to coronavirus pandemic

April 2, 2020 0

The federal agency responsible for consumer financial protection on Thursday said it is continuing to conduct supervision with consumer protection in mind, but examinations and other supervisory work is being carried out remotely “for the time being” due to the [...]