News Archives
Board to consider proposal on succession planning, hear briefings
(Jan. 21, 2022) A proposed rule on succession planning at federal credit unions (under Part 701 of NCUA regulations), and a final rule on resetting civil monetary penalties (CMP), as...
Former state regulator among trio of Fed nominees
(Jan. 21, 2022) The names of three candidates to fill three open seats on the Federal Reserve Board are now in the hands of the U.S. Senate – including the...
Fed issues ‘first step’ paper on CBDCs
(Jan. 21, 2022) Pros and cons of a U.S. central bank digital currency (CBDC) are examined in a discussion paper released by the Federal Reserve Thursday, the agency said, which...
CA latest state to earn reaccreditation
(Jan. 21, 2022) The California Department of Financial Protection & Innovation is the latest credit union state supervisory authority earn reaccreditation from NASCUS, the association announced this week. The achievement...
AROUND THE STATES: Maine report shows credit unions held 22% of all assets in state at MY ‘21
(Jan. 21, 2022) There were 56 credit unions authorized to do business in Maine at mid-year 2021 – which altogether held $10.3 billion in assets, for 22.07% of all financial...
BRIEFLY: Letter reminds FCUs their op fees drop average of nearly 25%; NCUA, bank regulators dinged in privacy report; ‘Consumer law’ task force records to be released
(Jan. 21, 2022) Federal credit union (FCU) operating fees will decrease by an average of 23.7% in 2022, NCUA told the FCUs in a letter Thursday (letter to FCUs 22-FCU-01)....
Knight: NASCUS will prioritize state charter competitive with others – including fintechs
Ensuring the state charter remains competitive with not only the federal charter, but other depository charters and nondepository entities known as fintechs is a priority for new NASCUS President and...
Proposal attempts to clarify appraisal waiver processes
(Jan. 14, 2022) Clarifying processes available for federal regulators to consider temporary waiver relief for appraisals by making “a clear distinction” between a request by a state appraiser regulatory agency...
Call report for 1Q updated for CCULR
(Jan. 14, 2022) Changes in risk-based capital requirements for federally insured credit unions have triggered changes in call reports, effective for the first quarter of 2022, NCUA said this week....
More time added for diversity self-assessments
(Jan. 14, 2022) More than two more weeks – to Jan. 31 – have been added for federally insured credit unions (FICUs) to complete and submit the voluntary Credit Union...
CFPB reminds medical debt collectors of obligations
(Jan. 14, 2022) A reminder to debt collectors of their obligations when collecting medical debts to comply with federal prohibitions on misrepresentations and unfair practices was issued Thursday by the...
Agencies seek solutions for ‘digital identity proofing’
(Jan. 14, 2022) Measuring the effectiveness of digital identity proofing – the process used to collect, validate and verify information about a person – is the aim of a “tech...