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.
A federal credit union (FCU) this month won a reversal of its federal examiner’s assignment of a CAMEL code 3 examination rating, with an upgrade to a CAMEL 2, through an appeal to the National […]
A final rule that eliminates the requirement that a multiple-common-bond federal credit union (FCU) have an ownership interest in a shared “service facility” for a new group or underserved area was approved unanimously Thursday by […]
A $345.3 million 2022 proposed budget was posted Wednesday by the federal credit union regulator; a public briefing is set for Dec. 8, the agency said. According to the National Credit Union Administration (NCUA), the […]
An independent auditor – Moss Adams, LLP – has been engaged to conduct a “full-scope” material loss review (MLR) of the failed Indianapolis’ Newspaper Federal Credit Union, according to a recent inspector general report to […]
Flexibility for board meetings originally extended to federal credit unions during the height of the coronavirus crisis will be extended in the new year, the institutions’ regulator said Monday. In Letter to Credit Unions (LTCU) […]
A final rule on credit union membership eligibility requirements for shared facilities is among the items up for consideration during the Nov. 18 National Credit Union Administration (NCUA) open board meeting, according to the agenda […]
Federal and state financial institution regulators on Wednesday said they were ending the flexible approach to supervision and enforcement they initiated in April 2020 regarding certain mortgage servicing timing requirements. The agencies – the Federal […]
The federal regulator of credit unions on Friday placed the tiny Pomona Postal Federal Credit Union of Pomona, Calif., into conservatorship Friday. The National Credit Union Administration (NCUA) said the credit union’s most recent call […]
Any issuances of secondary capital not completed by Jan. 1 will be subject to the requirements of the new subordinated debt rule, which becomes effective on that date, according to a letter sent Friday by […]
Credit unions are encouraged to participate in the free program that helps members address their federal income taxes; credit unions have until Nov. 15 to contact the IRS about their interest in participating, the federal […]
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