NCUA – Page 49 – Regulatory Report

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[ April 18, 2024 ] Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank OCC
[ April 18, 2024 ] Credit union regulator seeks comments on how to improve, update records retention rules NCUA
[ April 18, 2024 ] Ombudsman’s report notes banker frustration over lack of communication with FDIC FDIC
[ April 18, 2024 ] OCC publishes semiannual interest rate risk report for midsize, community banks OCC
[ April 17, 2024 ] False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO CFPB

Agencies outline supervisory practices in response to impact of Texas winter storm from power outages, more

February 23, 2021 0

Encouraging institutions to alter loan terms, easing of regulatory reporting requirements, and other supervisory practices in response to the impact of the Texas winter storms were outlined Monday by the federal financial institution regulators in […]

Risk-Based Net Worth – COVID-19 Regulatory Relief

February 22, 2021 0

Title: Risk-Based Net Worth – COVID-19 Regulatory Relief Subject: Risk-based net worth; COVID-19 Agency: NCUA Status: Proposed rule Summary: The NCUA Board (Board) is issuing this proposal to raise the asset threshold for defining a […]

Corporate Credit Unions

February 22, 2021 0

Title: Corporate Credit Unions Subject: Corporate credit unions; subordinated debt Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is issuing a final rule that amends the NCUA’s corporate credit union regulation. The final […]

Final rules on subordinated debt, proposal on risk-based capital changes to finally be published

February 22, 2021 0

Final rules on subordinated debt and corporate credit unions – and a proposed rule on risk-based net worth, COVID-19 regulatory relief – are scheduled to be published in the Federal Register Tuesday, which opens the […]

OIG: NCUA consumer complaint processing hits marks overall, but improvements needed in internal controls, communications

February 19, 2021 0

An audit of the federal credit union regulator’s consumer complaint program produced good marks overall but identified issues surrounding internal controls over complaint processing and communications with stakeholders, a report released recently shows. The audit […]

Share insurance fund closed 2020 with 1.26% equity ratio; deposit growth pressure continues

February 18, 2021 0

The federal fund that insures savings in credit unions saw its equity ratio rise four basis points (bp) in the final six months of 2020 to 1.26%, growth that occurred only amid continuing pressure from […]

NCUA Board OKs use of alternative records to show a joint account qualifies separately for share insurance

February 18, 2021 0

A final rule permitting the use of records other than signed membership cards or account signature cards as evidence that a jointly owned account qualifies for share insurance coverage apart from individually owned accounts was […]

Joint credit union regulator, tax agency webinar to look at earned income tax credit, VITA programs

February 17, 2021 0

A webinar on the Earned Income Tax Credit and Volunteer Income Tax Assistance (VITA) programs will be held Feb. 23 and co-sponsored by the federal credit union regulator and the Internal Revenue Service (IRS), the […]

Credit union regulator’s funds earn ‘clean’ opinions – but big challenges loom in year ahead, report says

February 16, 2021 0

While four funds administered by the federal credit union regulator all earned unmodified or “clean” audit opinions for 2020, the agency’s inspector general still outlined a number of 2021 challenges for credit unions that could […]

Final rule on joint ownership accounts, NCUSIF report slated Feb. 18

February 11, 2021 0

A final rule on what records can be used to support the insured status of a joint ownership share account is slated for action during an open meeting to be held virtually next Thursday by […]

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Still another assessed fine, prohibited, after involvement in troubled loan program at Michigan bank

April 18, 2024 0

Another individual associated with a troubled lending program at a Southfield, Mich., bank has been ordered to pay a $400,000 civil money penalty (CMP), the national bank regulator said Thursday. The Office of the Comptroller of the Currency (OCC) said [...]
Credit union regulator seeks comments on how to improve, update records retention rules

April 18, 2024 0

Finding methods for improving and updating the records preservation program regulations and accompanying guidelines of the federal credit union regulator is the goal of an advance notice of proposed rulemaking (ANPR) issued Thursday by the agency’s board. The National Credit [...]
Ombudsman’s report notes banker frustration over lack of communication with FDIC

April 18, 2024 0

Challenges faced by the federal bank deposit insurance agency in its supervisory processes and the feedback received from regional ombudsmen and bankers are outlined in the agency ombudsman’s annual report, issued Thursday. The 2023 report from the Federal Deposit Insurance [...]
OCC publishes semiannual interest rate risk report for midsize, community banks

April 18, 2024 0

Interest rate risk (IRR) data gathered during examinations of midsize and community banks and federal savings associations (FSA) by the national bank regulator was published Thursday by the agency. The report, the Office of the Comptroller of the Currency’s (OCC) [...]
False claims about student loan costs, graduate hiring rates lead to action against for-profit school, CEO

April 17, 2024 0

Deceiving students about the cost of loans and making false claims about graduates’ hiring rates have led to a consent order and a civil money penalty (CMP) against a San Francisco-based, for-profit vocational school and its CEO, the federal consumer [...]
‘Cautiously optimistic’ economic outlook noted in latest Beige report

April 17, 2024 0

Mixed results on consumer spending, “roughly flat” bank lending and some increases in residential construction and tourism were noted by the Federal Reserve in its April Beige Book report on economic conditions. The report is based on information collected on [...]