NASCUS Report Archives
Letter aims to clarify issuance of digital assets
(Dec. 17, 2021) To clarify existing authority about federally insured credit unions (FICUs) establishing relationships with third-party providers of digital asset services to their members, NCUA issued a letter to...
CUs asked to try cybersecurity testing app
(Dec. 17, 2021) Self-testing of credit unions’ cybersecurity preparedness through an application released in October costs nothing and can be downloaded via NCUA’s website, the agency said in a letter...
Loan compensation, bank purchases on rule agenda
(Dec. 17, 2021) NCUA’s fall rule agenda was published late last week, along with other agencies (see item on CFPB), with 21 projects listed, 14 of them in “final rule...
Overdraft fees not on CFPB rule agenda (yet?)
(Dec. 17, 2021) Six regulatory activities in 2022 by CFPB have been identified by the agency as “key” actions, according to a rulemaking agency released Monday – but action on...
ON THE ROAD: In KY for Directors’ College
(Dec. 17, 2021) Kentucky Department of Financial Institutions Commissioner Charles Vice (and NASCUS Regulator Board director) welcomes participants to the Dec. 14 Kentucky Credit Union Directors’ College in Louisville. The...
BRIEFLY: SIF’s ‘normal operating level’ set at 1.33%; New director in Alaska; OCC finalizes rescinding of 2020 CRA rulemaking
(Dec. 17, 2021) The “normal operating level” (NOL) of the NCUSIF – the level at which NCUA considers whether it needs to inject more reserves into the fund to cover...
In final NCUA budget appearance, Ito outlines reasons why OTR is vital
(Dec. 10, 2021) Every dollar transferred from the federal credit union savings insurance fund to fund NCUA expenses is one dollar not available to cover losses in the system and...
States keep on top of total assets (4th quarter in a row)
(Dec. 10, 2021) State-chartered credit unions maintained their hold on a slight majority of all credit union assets over the third quarter 2021, with about 50.2% of the total, according...
Budget, 3 final rules, on packed board agenda
(Dec. 10, 2021) The 2022 budget, and three final rules — on mortgage servicing rights, subordinated debt and the complex credit union leverage ratio — are among the items the...
April 1 is date to pick consumer loan LIBOR replacement
(Dec. 10, 2021) Creditors must select by April 1 replacement indices for existing LIBOR-linked consumer loans, which include closed- and open-end credit provisions that require a link to an index...
Bill aims to reduce risk of reference rate transition
(Dec. 10, 2021) Minimizing the risk of disruptive litigation and adverse economic impacts associated with the transition away from the LIBOR reference rate is the aim of legislation passed by...
Proposal explores real estate cash purchase reporting
(Dec. 10, 2021) Real estate buyers using cash to purchase residential or commercial properties would be subject to new reporting requirements aimed at spoiling money laundering schemes under a new...