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: Derivatives Subject: Derivatives Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending the NCUA’s Derivatives rule. The Board issued a proposed Derivatives rule at its October 2020 meeting. This final rule […]
The $3.04 million-in-assets, 343-member Empire Financial Federal Credit Union of Jackson, N.J., was placed in conservatorship Monday by the National Credit Union Administration (NCUA), the agency announced, citing “unsafe and unsound practices” at the institution. […]
The delay to Oct. 1, 2022, of the mandatory compliance date of the general qualified mortgage (QM) final rule is the subject of a regulatory alert issued by the federal credit union regulator Monday. NCUA […]
A final rule to modernize and make its derivatives rule for federal credit unions more principles-based was approved on a vote of 3-0 by the National Credit Union Administration (NCUA) Board, which made three changes […]
Credit unions continue to be spared a federal share insurance premium, for now. The equity ratio of the federal fund that insures savings in credit unions is projected to drop to 1.22% by this June […]
Giving his agency examination and enforcement authority over third-party vendors and making key changes to the structure of the federal savings insurance fund for credit unions were the top legislative requests made to a House […]
Measures that would repeal the “true lender” rule for banks, restore the federal credit union regulator’s short-lived, direct authority over third-party vendors, and set a trigger for the countercyclical capital buffer (CCyB) for banks are […]
Stopping the use of LIBOR as a reference rate as soon as possible as a year-end expiration date of the rate looms is encouraged for all federally insured credit unions, their federal regulator said in […]
An extension to July 1 for the deadline to comment on how financial institutions use artificial intelligence (AI) in their activities was announced Monday by financial institution regulators. The invitation to comment was provided in […]
Allegations of fraud at the failed Indianapolis Newspaper Federal Credit Union, conserved in January and closed March 31, are noted in a report that says the National Credit Union Administration (NCUA) Office of Inspector General […]
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