NASCUS Report

Utah’s regulator latest to earn accreditation

(Dec. 4, 2020) The Utah Department of Financial Institutions (DFI) is the latest state credit union regulator to earn accreditation from NASCUS, the association announced this week. The Utah DFI,...

TRANSITIONS: In LA, Ducrest retires; In KS, Hurt begins

(Dec. 4, 2020) John Ducrest, long-time (since 2004) Louisiana commissioner of financial institutions in the state’s Office of Financial Institutions (OFI), has retired, effective Dec. 2. Among many other contributions to...

HAVE YOU … Become acquainted with CU Campus 365?

(Dec. 4, 2020) CU Campus 365 is an alliance between NASCUS and BAI, the industry leader in compliance training, with a history of more than 95 years in the financial services...

HAVE YOU … Submitted a nomination for the 2020 Pierre Jay Award?

(Dec. 4, 2020) Nominations for the NASCUS 2020 Pierre Jay Award – which recognizes the individuals, programs or organizations whose contributions have benefited the state credit union system in a significant way –...

CUs: Watch your email for ’21 membership dues invoices

(Dec. 4, 2020) NASCUS credit union members will receive their 2021 membership dues via email invoices next week, arriving from the address of [email protected]; subject line will be “NASCUS 2021...

BRIEFLY: Banking agencies urge stop to LIBOR use now

(Dec. 4, 2020) Banks, “as soon as practicable,” should cease entering into new contracts that employ LIBOR as a reference rate in loan contracts, the three federal banking agencies said...

Change is here for NCUA Board (with more on the way soon)

(Nov. 25, 2020) Change is coming to the NCUA Board in the next 10 days or so, following change that already occurred late last week with the resignation of one...

Ito: Thanks to McWatters

(Nov. 25, 2020) NASCUS President and CEO Lucy Ito expressed the state system’s thanks to McWatters for his efforts as both a member and chairman of the NCUA Board for...

Reform for board will take congressional action

(Nov. 25, 2020) With changes coming to the membership of the NCUA Board, NASCUS believes now is a good time to consider some changes in how the NCUA Board is...

Latest summary takes look at derivative proposal

(Nov. 25, 2020) A proposal to modernize NCUA rules on derivatives, particularly to make it more “principles based” has been summarized by NASCUS and posted on the association’s website. The...

Systems changes advance hope for ‘S’ CAMEL piece

(Nov. 25, 2020) An “S” component (for market sensitivity) in the CAMEL examination rating system remains on the radar for NCUA in 2021, especially now that the agency’s information systems...

Time to change CFPB privacy forms, GAO finds

(Nov. 25, 2020) Model privacy forms from the CFPB that many credit unions and banks use to disclose their information-sharing practices to their members and customers should be updated, according...