21june11 – Regulatory Report

What's up

[ September 1, 2026 ] $2.4 million Kansas City credit union merged after 2-month conservatorship NCUA
[ August 31, 2026 ] Order: Former IN credit union employee caused $350,000 loss NCUA
[ August 31, 2026 ] Comptroller sets schedules for 4th, 1st Quarter CRA exams; takes break in December OCC
[ August 28, 2026 ] ‘Unsafe, unsound practice’ redefined by bank agencies in interest of prioritizing material financial risks over policies FDIC
[ August 28, 2026 ] Former bank CFO who diverted loan proceeds among those targeted in FDIC prohibitions FDIC

Fed sets Aug. 10 comment deadline on proposed rules for ‘FedNow’

June 11, 2021 0

Public comments on proposed revisions to the Federal Reserve’s Regulation J, governing fund transfers, to incorporate rights and obligations of Federal Reserve Banks and participants of the Fed’s new round-the-clock instant payments service are due […]

FDIC Board to review progress of insurance fund restoration plan

June 11, 2021 0

A briefing on the restoration plan for the fund insuring bank deposits is one of two discussion items on the agenda for a meeting next week of the board of the insurance agency. The Federal […]

$2.4 million Kansas City credit union merged after 2-month conservatorship

September 1, 2026 0

The conservatorship of WeDevelopment Federal Credit Union of Kansas City, Mo., ended with the credit union merged into CommunityAmerica Federal Credit Union, Lenexa, Kan., according to a release Tuesday. The National Credit Union Administration (NCUA) placed WeDevelopment Federal Credit Union [...]
Order: Former IN credit union employee caused $350,000 loss

August 31, 2026 0

A former employee’s misconduct caused Centra Credit Union, Columbus, Ind., more than $350,000 in losses, according to an August consent prohibition announced Monday that bars her permanently from any future work in federally insured financial institutions. The National Credit Union [...]
Comptroller sets schedules for 4th, 1st Quarter CRA exams; takes break in December

August 31, 2026 0

Seventy-nine banks – many of them in Texas – will face exams for anti-redlining rules compliance in the fourth quarter of this year, and the first quarter of next year, the national bank regulator said Monday. In releasing its fourth [...]
Former bank CFO who diverted loan proceeds among those targeted in FDIC prohibitions

August 28, 2026 0

A former chief financial officer of Bank of the Valley, Bellwood, Neb., is prohibited from any future work in federally insured financial institutions under a consent order issued in July and announced Friday by the federal bank deposit insurer. The [...]
FDIC revises consumer exam manual in response to new definition of ‘unsafe, unsound practices’

August 28, 2026 0

Five chapters were revised – and a template removed –from the federal bank deposit insurance agency’s consumer compliance exam manual, the agency said Friday, in a response to a new rule on unsafe, unsound practices. On Thursday, the Federal Deposit [...]