NASCUS Report Archives
Bureau issues trial licenses for ‘sandbox’ products
(Jan. 8, 2021) A “dual-feature credit card” and a program allowing employees access to their earned but unpaid wages prior to payday got the green light late last week for...
New Reg C, Reg Z thresholds took effect Jan. 1
(Jan. 8, 2021) Credit unions and banks with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage...
Agencies: SolarWinds hack has limited follow on so far
(Jan. 8, 2021) A major computer hack that was originally estimated to have affected 18,000 businesses, including federal agencies, and is now being blamed squarely on Russian origins, so far...
Democrats take Senate, portending changes ahead
(Jan. 8, 2021) The election of two Democrats from Georgia to the U.S. Senate this week – giving the Democrats a slim majority and therefore control — means some changes...
BRIEFLY: PPP webinar set for Monday (Jan. 11); FinCEN warns on COVID vaccine scams
(Jan. 8, 2021) Small Business Administration (SBA) and Treasury Department officials will provide an overview of the new Paycheck Protection Program (PPP) features associated with the recently passed Economic Aid...
OTR 2021 increase a sign for agency to reconsider expense allocation, Ito says
(Dec. 23, 2020) A 2021 budget of $341.4 million – with an overhead transfer rate (OTR) of 62.3% — was approved by the NCUA Board on a split vote of...
Hauptman now vice chairman; names top adviser
(Dec. 23, 2020) A new title has been bestowed on the newest member of the three-member board for the NCUA, who is now “vice chairman,” according to a release from...
Rule outlines ‘detailed disclosures’ in collection communications
(Dec. 23, 2020) Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers...
Bank regulators issue joint rule on security alerts
(Dec. 23, 2020) All three federal banking agencies late last week jointly released a proposal requiring banks and banking organizations they supervise to promptly notify their primary federal regulator in...
NASCUS MEMBER UPDATE: Invoices on way; NASCUS 365 in full swing; Last call for Pierre Jay Award nominations
(Dec. 23, 2020) NASCUS 2021 membership invoices NASCUS credit union and associate members were sent their 2021 membership renewal invoices Tuesday from [email protected]. Please contact NASCUS member relations staff if...
BRIEFLY: Waller joins Fed Board (nothing more yet on Shelton); Big banks pass stress test (but get no relief on capital); NCUA plans human trafficking webinar; NASCUS Report takes a break next week (see you again Jan. 8); Happy Holidays – and have a terrific New Year!
(Dec. 23, 2020) The Federal Reserve Board now has six (out of a total seven) members, as newest Gov. Christopher Waller joined the board after taking his oath of office...
Sub debt rule adopted by NCUA after years of work by agency, states
(Dec. 18, 2020) Well-capitalized, federally insured credit unions could count subordinated debt as capital for risk-based net worth purposes under a new rule approved by the NCUA Board at its...