NCUA Board Meeting (open)
NCUA Board meeting (open) MATTERS TO BE CONSIDERED: 1. Advanced Notice of Proposed Rulemaking, Part 701, Appendix A, Federal Credit Union Bylaws. 2. Request for Comment, Proposed Suspension and Debarment Procedures.
NCUA
NCUA
State closes 89-year-old NJ credit union, 2nd liquidation of year
A nearly $86 million-in-assets New Jersey credit union was liquidated by state banking authorities Wednesday, as the federal insurer of credit union savings was appointed the liquidating agent. The credit union had been in operation […]
NCUA
Director pleads to extortion, employee to theft, in credit union regulator’s February prohibition actions
A former director in Massachusetts pleaded guilty to an extortion charge, and a former employee in Wisconsin admitted to a theft, resulting in both being ordered to pay restitution to their credit unions by the […]
Other
Federal financial agencies’ reg flexibility, impact reviews need improvement, GAO testifies
Congress’ watchdog agency found weaknesses in federal financial and consumer agency regulatory reviews under Regulatory Flexibility Act (RFA) and Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) and recommended changes for improvement, an official told […]
CFPB
10 recommendations floated by GAO for regulators to ease burden, assess mortgage disclosure effectiveness
The federal consumer protection agency and the federal financial institution regulators are the subject of 10 recommendations made by the congressional watchdog, including assessing effectiveness of mortgage disclosure guidance and reporting rationales for their actions. […]
NCUA
Distribution of nearly $736 million on target; maybe more later, credit union regulator tells group
Distribution of nearly $736 million in excess funds from the federal program that insures savings in credit unions is being calculated now – through preforming and validating of the data necessary – with an anticipated […]
NCUA
CU in Warren, Mich., conserved, last reported $84.6 million in assets
Ukrainian Future Credit Union of Warren, Mich., which last reported having 5,692 members and $84.6 million in assets, was placed into conservatorship today by the director of the Michigan Department of Insurance and Financial Services. […]
Other
FFIEC publishes HMDA guide for 2018 data due March 2019
The Federal Financial Institutions Examination Council (FFIEC) has updated its Home Mortgage Disclosure Act (HMDA) guide for the collection of 2018 data due to be reported March 1, 2019. The umbrella agency represents federal regulators […]
NCUA
Agency uses opinion letter to provide example of ‘pass-through’ insurance eligibility for account
A specific “lease security account” qualifies for pass-through share insurance coverage based on credit union membership of a landlord or account holder, a legal opinion letter from the federal credit union regulator states. However, the […]
NCUA
Inspector general says NCUA was ‘reasonable’ in seeking 1.39% share insurance fund NOL
The rationale used by the National Credit Union Administration (NCUA) in recommending the NCUA Board raise the normal operating level (NOL) of the National Credit Union Share Insurance Fund (NCUSIF) from 1.3% to 1.39% last […]