NASCUS Report Archives
Kraninger resigns as Biden nominates successor
(Jan. 22, 2021) There was more change this week in Washington as Consumer Financial Protection Bureau Director Kathleen (“Kathy”) Kraninger resigned Wednesday, shortly after President Joe Biden took the oath...
Summary outlines final rule on debt collection practices
(Jan. 22, 2021) The latest summary from NASCUS focuses on the new rule from CFPB on debt collection practice, which revises Regulation F (which, in turn, implements the Fair Debt...
Smaller institutions exempted from HPML escrow accounts
(Jan. 22, 2021) An exemption from the requirement to establish escrow accounts for certain higher-priced mortgage loans (HPMLs) for smaller banks and credit unions was issued as a final rule...
CFPB also: finalizes supervisory guidance rule, issues FDCPA guide
(Jan. 22, 2021) A new rule codifying that supervisory guidance does not have the force of law, and that enforcement actions are not based on the guidance, was finalized Tuesday...
FAQs look at proposed effectiveness of AML requirements
(Jan. 22, 2021) Suspicious activity reporting and other anti-money laundering (AML) requirements are subjects of new frequently asked questions (FAQs) issued by NCUA, federal banking regulators and the Treasury’s Financial...
BRIEFLY: Biden settles on Barr to lead bank regulator; OCC issues national charter for digital assets bank
(Jan. 22, 2021) President Biden has reportedly determined that Michael S. Barr – a former assistant Treasury secretary for financial institutions (a position that interfaces with credit unions and banks)...
Two approaches proposed for simplifying risk-based capital requirements
(Jan. 15, 2021) Two approaches for simplifying risk-based capital (RBC) requirements for federally insured credit unions (FICUs) were proposed by the NCUA Board Thursday, one replacing the current rule with...
NASCUS: Proposal demands careful review
(Jan. 15, 2021) NASCUS President and CEO Lucy Ito urged careful review of the proposal by the entire credit union system – and noted that federal law requires the agency...
Board proposes adding ‘S’ component to exam rating system
(Jan. 15, 2021) Adding an “S” for “market sensitivity” to the examination rating system for NCUA was proposed unanimously by the agency Board Thursday, an addition long supported by NASCUS...
For NASCUS, (almost) a realization of a long-time goal
(Jan. 15, 2021) Lucy Ito praised the NCUA Board for moving forward on expansion of the rating system to include the “S” component. “We’re almost at the finish line –...
Other NCUA Board action taken on corporates, sub debt; CUSOs
(Jan. 15, 2021) In other action at its Thursday meeting, the NCUA Board: Adopted a final rule clarifying that corporate credit unions may purchase subordinated debt instruments issued by natural...
Summary outlines loan participation temp rule extension
(Jan. 15, 2021) A final rule extending to Dec. 31, 2021 a temporary final rule on loan participations is the subject of the latest summary to be developed by NASCUS...