NASCUS is the only organization exclusively dedicated to defending and advancing a strong state credit union system. Established in 1965, state credit union regulators formed NASCUS to promote the safety and soundness of state-chartered credit unions.
NASCUS Report for July 22 published/online
July 22, 2015 -- NCUA plans state collaboration; Metsger outlines budget briefing for senator; No FCU op fee increase (for now); Cyber threats outlined at top-level meeting -- and more. READ
Collaboration with states part of NCUA 2017-21 plan;
calendar-year examination requirement ends
July 21, 2016 -- Collaboration with state regulatory agencies, and the end of a calendar-year exam requirement for federally insured credit unions, are two outcomes of the NCUA Board’s adoption Thursday of its strategic plan for 2017-21 during its monthly open meeting in Alexandria, Va. READ
FAQs shed light on scope of new CDD requirements
July 20, 2016 -- “Frequently Asked Questions” (FAQs) to assist covered financial institutions in understanding the scope of the Customer Due Diligence (CDD) Requirements for Financial Institutions have been issued by the Financial Crimes Enforcement Network (FinCEN). The FAQs provide interpretive guidance with respect to the CDD rule. READ
Cyber threats, risk management highlighted at top-level meeting
July 20, 2016 – The current cyber threat landscape and developing common risk-based approaches among federal and state financial regulatory agencies to managing cybersecurity risk were on the agenda for discussion at the Tuesday meeting of the Financial and Banking Information Infrastructure Committee (FBIIC), attended by NASCUS leadership. READ
Kansas agency earns reaccreditation – for fourth time – from NASCUS
July 19, 2016 -- Reaccreditation of the Kansas Department of Credit Unions was approved in June, the fourth such designation by NASCUS for the state department since the first in 1995, the association announced today (press release). READ.
UPDATED: Bill requiring OTR transparency introduced in House
July 18, 2016 -- Legislation (HR 5869) requiring the NCUA Board to provide a rationale for any amounts it proposes to use from the share insurance fund – particularly through the overhead transfer rate (OTR) – has been introducedin the House by Reps. Mick Mulvaney (R-S.C.) and Denny Heck (D-Wash.) READ