NCUA – Page 57 – Regulatory Report

What's up

[ April 3, 2020 ] W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis) FDIC
[ April 3, 2020 ] Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions FDIC
[ April 3, 2020 ] Banking agencies’ interim rule delaying CECL impact out for comment until May 15 FDIC
[ April 3, 2020 ] Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act CFPB
[ April 3, 2020 ] 30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows CFPB

J. Mark McWatters

August 2, 2017 0

Credit union regulator expects Trump orders to ‘influence’ agency’s work

February 27, 2017 0

At least two of the executive orders issued by President Donald Trump this month and last are expected to “influence” the work of the federal credit union regulator, the new acting chairman of the agency […]

CU among nation’s top 150 conserved by NCUA

February 11, 2017 0

A $1.8 billion credit union — within the top 150 federally insured credit unions in the country in asset size — Friday was conserved by the New York State Department of Financial Services, which appointed the […]

Proposed capital rule by credit union regulator published

February 7, 2017 0

Alternative capital at credit unions is the subject of an advance notice of proposed rulemaking by NCUA published by the Federal Register today, opening the 90-day public comment period. Comments will be due on the […]

Freeze ‘does not apply’ to NCUA – but ‘spirit’ will be followed

January 31, 2017 0

A regulatory freeze imposed by the Trump administration does not apply to the NCUA, as it is an independent federal financial regulator, but the agency will “adhere to its spirit,” according to a statement issued […]

McWatters named acting credit union agency chairman

January 26, 2017 0

J. Mark McWatters is the new acting chairman of the NCUA Board, replacing Rick Metsger, as the result of a White House designation Thursday, according to a report by CUToday.info. McWatters, a Republican, has served […]

Court dismisses banker lawsuit challenging NCUA MBL rule

January 24, 2017 0

A federal court has dismissed a lawsuit against NCUA’s new member business loan (MBL) rule on procedural rules, but only after also pointing out that the suit would have been dismissed on its merits as […]

Credit unions considered for ‘alternative capital’

January 19, 2017 0

Proposals on “alternative capital” and adjustments for inflation to civil money penalties were issued for comment by the NCUA Board at its Thursday meeting, in a short but significant session. In issuing an “Advanced Notice […]

Cybersecurity, BSA among credit union supervisor’s priorities

January 13, 2017 0

Cybersecurity and Bank Secrecy Act compliance are at the top of the list of priorities for NCUA in its supervisory agenda for the New Year, according to a “Letter to Credit Unions” (LTCU 17-CU-01) issued […]

Required service organization registration starts Feb. 1

January 9, 2017 0

Annual required “reaffirmation” by credit union service organizations (CUSOs) must be completed between Feb. 1 and March 31 with the NCUA’s CUSO registry, the agency announced today. In a release, the agency noted that CUSOs […]

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W.V. bank becomes second of year to fail, result of long-standing issues (not necessarily coronavirus crisis)

April 3, 2020 0

The second bank failure of the year was reported Friday by the federal insurer of bank deposits, as it announced a purchase and assumption for a West Virginia institution with another from the Mountain State. The First State Bank of [...]
Amid coronavirus challenges, comment period extended 60 days on brokered deposits restrictions

April 3, 2020 0

The comment period on proposed rule changes on brokered deposits restrictions applicable to less-than-well-capitalized banks is extended 60 days to June 9, according to the Federal Deposit Insurance Corp. (FDIC), which pointed to the challenges associated with the coronavirus (COVID-19). [...]
Banking agencies’ interim rule delaying CECL impact out for comment until May 15

April 3, 2020 0

Federal banking agencies’ recent decision to delay the estimated impact on regulatory capital stemming from implementation of the accounting industry governing board’s current expected credit losses (CECL) standard took effect officially on March 31, and regulators are accepting comments from [...]
Materials strive to explain mortgage, foreclosure relief for homeowners under CARES Act

April 3, 2020 0

A video and a guide to “mortgage relief options” have been developed by the federal consumer financial protection agency with an eye, the agency says, toward explaining to consumers how they can score mortgage forbearance if their finances are affected [...]
30% of military consumer complaints in FY19 dealt with credit or consumer reporting, CFPB report shows

April 3, 2020 0

Of total complaints received by the federal consumer financial protection agency in fiscal 2019 (Oct. 1, 2018, to Sept. 30, 2019), nearly one-third of them – 10,500, or 30% – were about credit or consumer reporting, according to a report [...]
Four banks ‘outstanding,’ 63 ‘satisfactory’ under CRA, FDIC reports

April 3, 2020 0

Of the 67 banks whose Community Reinvestment Act (CRA) ratings were assigned in April, none was found wanting, with four rated ‘outstanding’ and 63 rated ‘satisfactory,’ the federal bank deposit insurer reported Friday. In April, the Federal Deposit Insurance Corp. [...]
CFPB says supervision is ongoing, with adjustments due to coronavirus pandemic

April 2, 2020 0

The federal agency responsible for consumer financial protection on Thursday said it is continuing to conduct supervision with consumer protection in mind, but examinations and other supervisory work is being carried out remotely “for the time being” due to the [...]