NCUA – Page 50 – Regulatory Report

What's up

[ September 25, 2020 ] UPDATED: Regulators react to proposed capital plan for Fannie Mae, Freddie Mac, with tone of ‘not enough’ FDIC
[ September 25, 2020 ] Comments due in November on FDIC proposed MDI policy statement revisions FDIC
[ September 25, 2020 ] Proposed removal of OTS nondiscrimination regs out for comment FDIC
[ September 25, 2020 ] Bank gets cease-and-desist order over BSA violations; 4 prohibited from future service in banks FDIC
[ September 25, 2020 ] Report: Many believe they need more money to cover emergencies than they have in savings CFPB

Left unsaid at Senate hearing with regulators: ‘EGRRCPA’ (thankfully)

October 2, 2018 0

As federal financial institution regulators spoke Tuesday to Senate Banking Committee members in testimony and during questions and answers, many words and terms were thrown about. But one term noticeably was left unsaid: EGRRCPA, as […]

Lawmakers urge quick work on S. 2155 implementation

October 2, 2018 0

Bank regulators were urged to move apace on efforts to tailor prudential standards for banks under $250 billion in assets during a Senate Banking Committee hearing Tuesday on implementation of the recently enacted financial reform […]

Regulators lay out future needs, plans in testimony before Senate Banking panel

October 2, 2018 0

Regulators took a forward look in testimony Tuesday about recently enacted regulatory relief legislation, telling a Senate committee where they hope to go in coming weeks and months with their regulatory plans, and what more […]

NCUA closes 6th insured credit union in 2018; liquidation follows 15-month conservatorship

October 1, 2018 0

The sixth 2018 liquidation of a federally insured credit union was announced Monday by the National Credit Union Administration (NCUA): LOMTO Federal Credit Union (Woodside, N.Y.) was closed Sunday, with its members, most shares, some […]

Communications process among members in CU mergers addressed in agency letter

October 1, 2018 0

Facilitating the sharing of member-to-member (MTM) communications when a federally insured credit union is merging with another is addressed in a letter to credit unions (LTCU) published Monday by their federal regulator. The National Credit […]

BSA customer ID rule exemption set for FIs’ loans to businesses to buy property and casualty insurance

September 28, 2018 0

An exemption from Bank Secrecy Act (BSA) customer identification program rules for loans made for the purchase of property and casualty insurance was approved by federal regulators Friday, effective as of Sept. 27, 2018. The […]

Agency bars 5 former credit union employees from future service in FIs

September 28, 2018 0

Five former credit union employees, one of whom was ordered to pay $1 million in restitution in addition to serving prison time for her crimes, have been barred from future involvement in the affairs of […]

UPDATED: NCUA proposes $334.8 million budget in ’19; $304.4 million is for operating budget

September 26, 2018 0

Increases of 4.3% and 2.7% in total budget dollars for 2019 and 2020 are proposed by the federal regulator of credit unions in documents slated for publication soon in the Federal Register and due to be […]

EGRRCPA has spurred 35 actions by regulators so far, more than half during past six weeks

September 25, 2018 0

Federal financial institution regulators have taken at least 35 individual public actions since late May to put into effect the new regulatory relief legislation, according to a compilation of the actions by Regulatory Report. According […]

Grants available to help low-income CUs restore operations after Hurricane Florence damage

September 24, 2018 0

Grants of up to $7,500 for low-income credit unions that sustained damage from the recent Hurricane Florence and need to restore operations are available, the federal credit union regulator said Monday. In a release, the […]

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UPDATED: Regulators react to proposed capital plan for Fannie Mae, Freddie Mac, with tone of ‘not enough’

September 25, 2020 0

A proposed capital requirements plan for secondary mortgage market giants Fannie Mae and Freddie Mac, presented to federal regulators Friday, has won the plaudits of the chairman of the federal insurer of bank deposits. However, but both she and the [...]
Comments due in November on FDIC proposed MDI policy statement revisions

September 25, 2020 0

A proposal revising the Federal Deposit Insurance Corp.’s (FDIC) statement of policy on minority depository institutions (MDIs) made it into the Federal Register Friday and is out for comment until Nov. 24. The FDIC issued its policy statement in 1990 [...]
Proposed removal of OTS nondiscrimination regs out for comment

September 25, 2020 0

A proposed rule to remove nondiscrimination rules issued by the former Office of Thrift Supervision (OTS) and make nonmember state savings associations subject to similar rules currently set for banks is out for comment until Oct. 26. The Federal Deposit [...]
Bank gets cease-and-desist order over BSA violations; 4 prohibited from future service in banks

September 25, 2020 0

One cease-and-desist order against a bank in Kansas over Bank Secrecy Act violations and four prohibitions of former bank employees from any future service in a federally insured financial institution were among the 13 enforcement orders issued in August by [...]
Report: Many believe they need more money to cover emergencies than they have in savings

September 25, 2020 0

People think they need about $10,000 to cover any financial emergencies, according to results of a study released Thursday, but more than half of those have only $3,000 or even less in their combined checking and savings account, according to [...]
Fed sets earlier date for adopting later same-day ACH processing and settlement

September 25, 2020 0

The implementation date will be March 8 for changes to the Federal Reserve Banks’ payment systems to allow adoption of a later same-day automated clearinghouse (ACH) processing and settlement window, the Fed said Friday – moving back the date from [...]