NASCUS Report Archives
… Sub debt reg tweaked to allow ECIP participation …
(Dec. 17, 2021) A final regulation tweaking the agency’s subordinated debt rule by amending the definition of “Grandfathered Secondary Capital” to include any secondary capital issued to U.S. government or...
… Mortgage servicing sales allowed to FCUs
(Dec. 17, 2021) Finally, the board also approved a change to its investment regulation to allow FCUs to purchase mortgage servicing rights (MSRs) from other federally insured credit unions (FICUs,...
NCUA taps 25-year veteran as new E&I director
(Dec. 17, 2021) Kelly Lay is the new top examination executive for NCUA, the agency said this week replacing the retiring top staffer at the start of the year. The...
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...