NCUA – Page 85 – Regulatory Report

What's up

[ June 19, 2026 ] Former OK bank leader earns prohibition, $125k fine for ‘imprudent’ lending that led to millions in losses The Fed
[ June 18, 2026 ] Agencies jointly issue proposal for ‘effective’ customer ID program used by permitted stablecoin issuers FDIC
[ June 17, 2026 ] Want your filing approved? OCC attempts to clarify how that happens (and how it doesn’t) OCC
[ June 18, 2026 ] OCC bars 2 from banking work; terminates 3 previous orders of enforcement OCC
[ June 17, 2026 ] GAO: Fed’s COVID-era ‘Main Street’ loan program shows 70% of loans repaid; more Other

Regulators for Federal Reserve, credit union agency, up for consideration in pair of hearings July 21

July 13, 2020 0

A vote on recommending for confirmation two nominees to the Federal Reserve Board, and a hearing on the nomination of a member of the federal credit union regulator’s board, have been scheduled for next week […]

July 14 call to provide update on SBA programs, including PPP

July 10, 2020 0

Updates to the Small Business Administration’s (SBA) lending programs, including the Paycheck Protection Program implemented under the CARES Act, will be provided during a conference call slated for 3 p.m. ET next Tuesday, the federal […]

NCUA legal opinion: ‘Reasonable proximity’ not a mileage issue

July 7, 2020 0

A June legal opinion from the federal credit union regulatory agency notes that the “reasonable proximity” requirement under the Federal Credit Union Act doesn’t set a maximum distance between the location of a group that […]

Credit union regulator taking action ‘immediately’ on rural membership applications delayed by now-resolved lawsuit

July 7, 2020 0

Any federal credit union that had a rural district membership eligibility application postponed – for, in some cases, nearly two years — as a result of a now-resolved lawsuit will see its application processed immediately, […]

Liquidity facility for credit unions balloons to $25.8 billion – up $15.3 billion

July 6, 2020 0

The borrowing authority for the facility designed to help credit unions meet liquidity demands, particularly due to the financial impact of the coronavirus crisis, rose to $25.8 billion by the end of May – an […]

Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance

July 6, 2020 0

Title: Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance Subject: Flood insurance Agency: FDIC, Federal Reserve, NCUA, OCC Status: Notice and request for comment Summary: The OCC, Board, FDIC, […]

NCUA OIG: Asset management center’s liquidation process adequate to protect personally identifiable info

July 6, 2020 0

Management controls at the Asset Management and Assistance Center (AMAC) were shown to adequately protect personally identifiable information (PII) in liquidations of credit unions from 2008 to 2018, according to a report published recently by […]

NCUA reschedules this month’s board meetings for July 30

July 1, 2020 0

The July open and closed meetings of the National Credit Union Administration (NCUA) Board have been pushed back two weeks to July 30, the agency announced Wednesday. The meetings were previously slated for July 16. […]

Assets grow 8.8% at credit unions in year ending March 31; ROAA dives 42bp

July 1, 2020 0

Federally insured credit unions’ total assets grew $132 billion, or 8.8%, over the 12-month period ending March 31, totaling $1.64 trillion, according to first-quarter industry data released Wednesday by the National Credit Union Administration (NCUA) […]

Supervision ramping up as agencies evaluate institutions for LIBOR transition preparedness, plans

July 1, 2020 0

Federal and state regulators on Wednesday urged financial institutions to continue working to transition away from using LIBOR (the London Interbank Offered Rate) as a reference rate in any products, and they said supervision of […]

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Former OK bank leader earns prohibition, $125k fine for ‘imprudent’ lending that led to millions in losses

June 19, 2026 0

“Imprudent” loans made to the relatives of an Oklahoma bank CEO have led to his prohibition from future bank employment and a fine of $125,000, the Federal Reserve said Thursday. According to the Fed, it has prohibited Thomas Engelbrecht from [...]
Agencies jointly issue proposal for ‘effective’ customer ID program used by permitted stablecoin issuers

June 18, 2026 0

Establishing and maintaining “an effective” customer identification program (CIP) for permitted payment stablecoin issuers (PPSIs) was proposed Thursday by federal banking and credit union regulators, and the Treasury’s financial crimes enforcement unit. The proposal, issued under the auspices of the [...]
Want your filing approved? OCC attempts to clarify how that happens (and how it doesn’t)

June 17, 2026 0

A filing is inconsistent with law or regulation if it does not meet the applicable statutory or regulatory criteria for that filing type, the national bank regulator said Wednesday in a bulletin focusing on the agency’s filing decision process. The [...]
OCC bars 2 from banking work; terminates 3 previous orders of enforcement

June 18, 2026 0

Two banking executives were barred from any future work in federally insured financial institutions in consent prohibition orders announced Thursday by the Office of the Comptroller of the Currency (OCC). The agency’s prohibition orders noted that: Steven Ho, former vice president [...]
GAO: Fed’s COVID-era ‘Main Street’ loan program shows 70% of loans repaid; more

June 17, 2026 0

An annual review of the Federal Reserve’s Main Street Lending Program — created with other programs to ensure credit availability amid the COVID-19 pandemic — has seen 70% of the 1,830 loans made fully repaid, with 16% generating losses and about [...]
Credit union regulator’s Hauptman to receive three briefings at meeting set for June 24

June 17, 2026 0

A mid-year budget update is on the agenda for the federal credit union regulator’s one-man board when he gavels in the meeting June 24, at 10 a.m. ET. According to the National Credit Union Administration (NCUA) Kyle Hauptman, chairman of [...]
OCC drops language from MDI rules designating what groups qualify as ‘socially, economically disadvantaged’

June 16, 2026 0

As there is no specified group of individuals presumed to be socially and economically disadvantaged under the statute creating minority depository institutions (MDIs), the national bank regulator is dropping portions of its rules that outline who those groups are, the [...]
UPDATED: Credit union regulator loosens rules on records preservation requirements

June 15, 2026 0

Guidance on records preservation for credit unions concerning the length of time credit unions should retain various types of operational records was removed from the federal regulator’s regulations under a final rule adopted Monday. According to the one-man board of [...]
FinCEN updates guidance on banks’ USA PATRIOT Act info sharing with others

June 15, 2026 0

Updated guidance on how financial institutions are permitted to share information with each other regarding suspected fraud was issued by Treasury’s financial crimes enforcement arm under the USA PATRIOT Act. The Financial Crimes Enforcement Network (FinCEN) on Friday released a [...]