Leadership – Regulatory Report

What's up

[ January 23, 2020 ] NCUA names new executive director as incumbent announces retirement; other personnel actions revealed NCUA
[ January 23, 2020 ] Former Wells Fargo CEO, others face a combined $58.5 million in fines for bank’s ‘misconduct’ OCC
[ January 23, 2020 ] Regulator proposes additional capital option as subordinated debt for some credit unions NCUA
[ January 23, 2020 ] Proposed rule intended to ‘clarify’ regs governing credit union acquisition of banks (or ‘combination transactions’) NCUA
[ January 23, 2020 ] MN real estate firm to pay $593K fine, restitution for fraudulent scheme involving foreclosed properties FDIC

Rodney E. Hood

February 19, 2019 0

Kathleen ‘Kathy’ Kraninger

June 18, 2018 0

Jelena McWilliams

May 24, 2018 0

Jerome H. ‘Jay’ Powell

November 2, 2017 0

Joseph M. Otting

September 8, 2017 0

Regulators/boards; names, positions, term expirations

September 11, 2017 0

NCUA names new executive director as incumbent announces retirement; other personnel actions revealed

January 23, 2020 0

A new executive director – the highest staff position – for the federal credit union regulator was named Thursday, following the announcement of the retirement of the current incumbent in the position. The agency also announced it has named a [...]
Former Wells Fargo CEO, others face a combined $58.5 million in fines for bank’s ‘misconduct’

January 23, 2020 0

The former chief executive officer of Wells Fargo Bank, N.A. (Sioux Falls, S.D.) and seven others will have to pay a combined $58.5 million in civil money penalties under charges and orders citing their failure to address systemwide sales practices [...]
Regulator proposes additional capital option as subordinated debt for some credit unions

January 23, 2020 0

A 275-plus page – and controversial – proposal to give some federally insured credit unions the ability to issue subordinated debt to help them meet their risk-based capital requirements was issued for a 120-day comment period Thursday by the federal [...]
Proposed rule intended to ‘clarify’ regs governing credit union acquisition of banks (or ‘combination transactions’)

January 23, 2020 0

A new rule intended to clarify requirements for a federally insured credit union (FICU) when it proposes to acquire or merge with a bank or other institution was proposed by the National Credit Union Administration (NCUA) Board at its meeting [...]
MN real estate firm to pay $593K fine, restitution for fraudulent scheme involving foreclosed properties

January 23, 2020 0

A criminal fine, restitution and jail time were ordered for a Minnesota real estate company, its owner, and its accountant for their part in a long-running fraudulent bidding and kickback scheme in connection with foreclosed properties for nearly eight years, [...]
Loan rate ceiling for federal credit unions unchanged at 18%, until September 2021

January 23, 2020 0

Continuing a rate cap in place since 1987, the federal credit union (FCU) regulator on Thursday approved continuing the 18% loan interest-rate ceiling in effect for loans made by federal credit union loans for another 18 months on the unanimous [...]
Final rule on counterparty credit risk measurement (SA-CCR) slated, at long last, for Federal Register publication

January 23, 2020 0

A final rule adopted last November that implements a standardized approach for measuring counterparty credit risk (SA-CCR), and which begins taking effect April 1, is slated for publication Friday in the Federal Register. The rule – 366 pages long in [...]