NCUA – Page 2 – Regulatory Report

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[ July 10, 2020 ] Debt settlement, credit counseling report based on Great Recession offers glimpse of financial impact from 2020 pandemic CFPB
[ July 10, 2020 ] July 14 call to provide update on SBA programs, including PPP NCUA
[ July 10, 2020 ] FDIC slates July 28 meeting of its community banking advisory panel FDIC
[ July 10, 2020 ] No material differences in accounting, capital standards – just technical ones, regulators tell Congress FDIC
[ July 9, 2020 ] FDIC ends ShoreBank receivership FDIC

Strategies for Future Examination and Supervision Utilizing Digital Technology

June 30, 2020 0

Title: Strategies for Future Examination and Supervision Utilizing Digital Technology Subject: Examination modernization Agency: NCUA Status: Request for information Summary: The National Credit Union Administration (NCUA) is conducting a comprehensive study of alternative procedures to […]

Supreme Court takes a pass on credit union membership rules; agency will start processing new applications ‘immediately’

June 29, 2020 0

An appeal of a lower court’s earlier decision upholding rules governing membership at credit unions was rejected by the Supreme Court Monday, essentially ending a challenge by the banking industry to the regulator over the […]

Agencies propose updating flood insurance Q&As reflecting rule changes

June 26, 2020 0

An updated list of questions and answers aimed at providing insight to changes to flood insurance requirements under new rules regarding loans in special flood hazard areas were released for comment Friday by federal banking […]

Credit union regulator eyes move to virtual examinations, supervision; risk-based net worth proposal pulled from agenda

June 25, 2020 0

A request for information (RFI) on aspects related to the future of a virtual examination program was issued by the federal regulator of credit unions during its open meeting Thursday for a 60-day comment period. The […]

NCUA says Southwest Corporate estate to pay out $171 million to certificate holders in July

June 25, 2020 0

Nearly 900 credit unions that had membership capital shares in the failed Southwest Corporate Federal Credit Union will share in a $171 asset management estate payout anticipated for July, the first of other payments to […]

Facing rising coronavirus infections, credit union regulator backs off plan to transition to on-site operations

June 25, 2020 0

Recent spikes of COVID-19 virus in about half of the states nationwide have caused the federal credit union regulator to back off of its phase-in of on-site operations at both the agency and at credit […]

THIS WEEK: Stress-test, CCAR results due out Thursday from Fed; NCUA, FDIC boards to meet

June 22, 2020 0

The Federal Reserve is due two days from today to release stress-test results for 34 big banks – along with related comprehensive capital analysis and review (CCAR) results – based on a scenario developed in February, before […]

Regulators urge their examiners to ‘exercise flexibility’ in response to coronavirus crisis

June 23, 2020 0

Guidance intended to promote consistency and flexibility in the supervision and examination of financial institutions affected by the coronavirus crisis was issued Tuesday by federal banking and credit union regulators. The agencies noted, in releasing […]

Credit unions have another month to apply for MDI mentoring grants, NCUA announces

June 23, 2020 0

The application deadline for credit unions to seek minority depository institution (MDI) mentoring grants from the federal credit union regulator has been moved back a month to July 31, the agency announced Tuesday. The National […]

On-site operations outlined for supervision of credit unions to be phased in – including voluntary exams

June 19, 2020 0

On-site, voluntary examinations of credit unions will be phased in, reportedly beginning as soon as early next month, their federal regulator said in a letter Thursday. In its Letter to Credit Unions 20-CU-20, “Phased Approach […]

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Debt settlement, credit counseling report based on Great Recession offers glimpse of financial impact from 2020 pandemic

July 10, 2020 0

A record amount of $11.4 billion in debt settlements 10 years ago during the Great Recession may provide a road map of what’s to come in 2020 as the financial impact of the coronavirus crisis becomes more apparent, a report [...]
July 14 call to provide update on SBA programs, including PPP

July 10, 2020 0

Updates to the Small Business Administration’s (SBA) lending programs, including the Paycheck Protection Program implemented under the CARES Act, will be provided during a conference call slated for 3 p.m. ET next Tuesday, the federal credit union regulator said in [...]
FDIC slates July 28 meeting of its community banking advisory panel

July 10, 2020 0

The Federal Deposit Insurance Corp. (FDIC) Advisory Committee on Community Banking is slated to hold an open meeting July 28 from 1 to 5:30 p.m. ET, with the meeting – out of an abundance of caution due to the coronavirus [...]
No material differences in accounting, capital standards – just technical ones, regulators tell Congress

July 10, 2020 0

There are no material differences in accounting and capital standards applicable to the insured depository institutions they regulate and supervise, but there are some technical deviations, the federal banking agencies will say in their annual report to Congress, expected to [...]
FDIC ends ShoreBank receivership

July 9, 2020 0

The federal bank deposit insurer’s receivership of the defunct ShoreBank (Chicago) was terminated July 1, the agency said in a recent Federal Register notice. ShoreBank was closed by the Illinois Department of Financial and Professional Regulation in August 2010. At [...]
Bureau’s QM proposals set for Federal Register publication Friday; comments due early August, September

July 9, 2020 0

Two proposed rules aimed at addressing the pending expiration of the so-called “GSE patch” in the federal consumer financial protection agency’s qualified mortgage provisions of its Truth in Lending Act regulation are slated for publication Friday in the Federal Register. [...]
Fed terminates enforcement action with The Leaders Group Inc.

July 9, 2020 0

A consent order entered into in April 2011 between the Federal Reserve Board and The Leaders Group Inc. – a bank holding company that owns and controls The Leaders Bank (Oak Brook, Ill.) – was terminated July 1, the Fed [...]