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.
NCUA
NCUA
FDIC
FinCEN, bank and credit union regulators issue FAQs on SAR reporting, other AML considerations
Answers to frequently asked questions (FAQs) related to suspicious activity report (SAR) rules and other anti-money laundering (AML) considerations were issued jointly Monday by the four federal financial regulatory agencies. The FAQs from the Federal […]
CFPB
Biden administration imposes moratorium on regulations
The new Biden administration instituted a “regulatory freeze” order on Wednesday, requiring that no new rules be proposed or issued until a Biden-appointed official has reviewed or approved the rule. The order also requires that […]
CFPB
UPDATED: FDIC Board, others, finalize rules codifying role of supervisory guidance as not having force of law
A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday by the federal insurer of bank deposits. Three […]
NCUA
2021 NCUA supervisory priorities focus on COVID-19, BSA/AML, consumer protection; no CECL reviews for now
A continued focus on the challenges posed by the ongoing coronavirus (COVID-19) pandemic and steps to enhance the agency’s offsite monitoring of credit unions’ condition are among the highlights in a letter Friday on 2021 […]
NCUA
Kressman is named NCUA general counsel; Conyers-Ausbrooks is board secretary
Frank Kressman has been selected as the agency’s general counsel, a move that elevates him from his “acting” role in that post assigned 13 months ago. The National Credit Union Administration (NCUA), in a release […]
NCUA
NCUA places small IN credit union into conservatorship
The federal credit union regulator on Thursday said it placed the $6.6 million-in-assets, 1,155-member Indianapolis’ Newspaper Federal Credit Union into conservatorship. “The NCUA placed Indianapolis’ Newspaper Federal Credit Union into conservatorship because of unsafe and […]
CFPB
UPDATED: Agencies sign ‘memo of understanding’ to improve consumer protection coordination supervision for larger credit unions
Improving coordination between the federal credit union regulator and federal consumer financial protection agency over the consumer protection supervision of credit unions with more than $10 billion in assets is the stated purpose of a […]
NCUA
Expanded CUSO lending, subordinated debt buys by corporates, CAMEL + ‘S’, risk-based capital issues get action by NCUA Board
Three proposed rules, an advance notice of proposed rulemaking (ANPR), and a final rule were issued during Thursday’s open meeting of the National Credit Union Administration (NCUA) Board, with two of the actions addressing yet […]
NCUA
Mortgage Servicing Assets
Title: Mortgage Servicing Assets Subject: Investments Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is issuing a final rule to permit federal credit unions (FCUs) to purchase mortgage servicing assets (MSAs), referred to […]