NCUA – Page 66 – 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

GA credit union placed in conservatorship

June 11, 2020 0

The $46.4 million-assets Southern Pine Credit Union in Valdosta, Ga., was placed into conservatorship Thursday by the National Credit Union Administration (NCUA) in consultation with the Georgia Department of Banking and Finance, the federal credit […]

Agency reminds of deadline for small MDI credit unions to apply for mentoring grants

June 10, 2020 0

June 30 is the deadline to apply for mentoring grants of up to $25,000 for small, low-income credit unions certified as minority depository institutions (MDIs), their federal regulator said Wednesday in a reminder. According to […]

Credit union regulator, Export-Import Bank announce three-year deal to encourage lending

June 9, 2020 0

Better understanding, and use, of the U.S. export credit agency by credit unions, primarily through education opportunities, is the stated aim of an agreement announced Tuesday by the federal credit union regulator and the credit […]

Letter details new rules for credit union earnings retention, ‘streamlined’ net worth plans

June 9, 2020 0

Earnings retention required for credit unions classified as adequately capitalized, and credit unions’ streamlined net worth restoration plans (NWRPs), are addressed in a letter to credit unions issued by their federal regulator Tuesday. In May, […]

Elder financial abuse, aggravated by pandemic, focus for webinar

June 8, 2020 0

An update on the impact of elder financial exploitation and scams related to the coronavirus (COVID-19) crisis will be explored in a Thursday (June 11) webinar hosted by the federal credit union regulator and featuring […]

Comments due July 6 on NCUA proposal on joint ownership share accounts

June 5, 2020 0

A proposal allowing account records information other than a signature card to support the insured status of a joint ownership share account in a credit union was published in the Federal Register Friday with a […]

Joint Ownership Share Accounts

June 5, 2020 0

Title: Joint Ownership Share Accounts Subject: Joint accounts; share insurance Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending its share insurance regulation governing the requirements for a share account to be […]

Regulators’ group jointly decries racism, discrimination; vows commitment to financial inclusion

June 5, 2020 0

Racism and discrimination must not be tolerated, a joint statement released Friday by all federal financial institution regulators stated in the wake of the death of a Minneapolis man during a police apprehension last week. […]

Credit union regulator speaks out on George Floyd death, calls for ‘true inclusion’ among financials

June 2, 2020 0

“Abuse of authority and violence against a black man” prompted the chairman of the board for the federal credit union regulator to release a pointed statement Tuesday urging “true inclusion” among regulators, financial institutions and […]

Credit union regulator slaps three with prohibitions

June 1, 2020 0

Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft. […]

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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 [...]