NASCUS Report Archives
NASCUS Summary: NCUA Board Meeting (Feb. 2023)
On February 26, the NCUA Board held its second open meeting of 2023. The Board unanimously approved two items. The items approved included a long-awaited final rule on cyber incident...
Federal Reserve Board releases hypothetical scenarios for its 2023 bank stress tests
The Federal Reserve Board on Thursday released the hypothetical scenarios for its annual stress test, which helps ensure that large banks are able to lend to households and businesses even...
Feb. 10: CFPB Updates This Week
PUBLISHED FEB 9, 2023 CFPB publishes HMDA Regulatory and Reporting Overview Reference Chart for Data Collected in 2023 Today, the CFPB published the Regulatory and Reporting Overview Reference Chart for HMDA...
How the LIBOR Transition Affects the Supply of Revolving Credit
In the United States, most commercial and industrial (C&I) lending takes the form of revolving lines of credit, known as revolvers or credit lines...
CFPB Proposes Rule to Rein in Excessive Credit Card Late Fees
Proposed rule seeks to close loophole exploited by companies to hike fees with inflation Today, the Consumer Financial Protection Bureau (CFPB) proposed a rule to curb excessive credit card late...
NCUA Releases New Updated FAQs on CECL, Simplified CECL Tool
Jan. 30, 2023 – The NCUA has released updates to its frequently asked questions on the current expected credit losses (CECL) accounting standard and its Simplified CECL Tool. The CECL GAAP...
House Passes Three Bipartisan Financial Services Bills
January 30, 2023 – Today, the U.S. House of Representatives passed several pieces of bipartisan financial services legislation. Among the bipartisan bills passed are initiatives to combat the financial exploitation of...
FFIEC Subcommittee Hearing on Appraisal Bias
Jan. 26, 2023 — To root out racial bias in the U.S. appraisal system, some experts say there’s no point in nibbling at the edges. Instead, they suggest tearing the...
Treasury Announces 2nd ECIP Application Round
U.S. Treasury Announces Second ECIP Application Round; Applications Due Jan. 31 Jan. 25, 2023 — The U.S. Department of the Treasury’s second application round of Emergency Capital Investment Program funding...
NCUA’s 2023 Supervisory Priorities
NCUA’s Letter to Credit Unions (23-CU-01) Dear Boards of Directors and Chief Executive Officers: This letter outlines the NCUA’s supervisory priorities and other updates to the agency’s examination program for...
CFPB Issues Guidance to Root Out Tactics Which Charge People Fees for Subscriptions They Don’t Want
New circular addresses dark patterns and other tricks used by companies to confuse and deceive consumers enrolled in subscription services. The Consumer Financial Protection Bureau (CFPB) issued a new circular...
Seven Things to Know About the Debt Limit
Courtesy of Leonard Burman and William G. Gale, Brookings Institute There is a legal maximum on how much debt the federal government can accumulate—often called the “debt ceiling” or the...