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.
Title: Policy for Setting the Normal Operating Level Subject: NCUSIF normal operating level (NOL) Agency: NCUA Status: Notice; request for comment Summary: The NCUA Board (Board) is requesting public comments on the policy to set […]
A final rule permitting federally insured credit unions (FICUs) to phase in over three years the day-one adverse effects on net worth of the current-expected-credit-loss (CECL) accounting methodology is set to take effect Aug. 2, […]
Three former employees of credit unions in Oklahoma, Nevada, and Florida are prohibited from any future service in a federally insured financial institution under actions taken in June by the National Credit Union Administration. The […]
The 219-member, $506,000-in-assets Defense Logistics Federal Credit Union in Dover, N.J., was liquidated Thursday after about a 62-year run. The credit union, chartered in 1959, served civilian and military personnel of the Defense Contract Administration […]
An interagency statement Wednesday by federal and state financial institution regulators gives supervised institutions a heads up to plans for future Bank Secrecy Act (BSA) rule changes to incorporate just-issued national priorities for anti-money laundering […]
A final rule adopted June 24 to permit credit unions to extend financing of interest in connection with loan workouts and modifications is set to take effect July 30, according to a notice Wednesday in […]
The inspector general at the agency that charters, supervises and insures credit unions told Congress this month that the agency’s programs are not susceptible to significant improper payments based on a required review conducted for […]
More than $865 million will be distributed by September to credit unions that were account holders at three failed corporate credit unions as the federal credit union regulator closes its program to resolve the institutions, […]
A rule that removes the prohibition on federally insured credit unions’ (FICUs) financing of interest in connection with loan workouts and modifications was approved Thursday on a unanimous, 3-0 vote of the National Credit Union […]
Federally insured credit unions (FICUs) will be able to phase in over a three-year period the day-one adverse impacts on net worth of the current-expected-credit-loss (CECL) accounting standard under a final rule approved Thursday by […]
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