News Archives
FSOC: Stable coin risks should be addressed
(Dec. 23, 2021) Regulators should take appropriate actions within their jurisdictions to address risks associated with digital assets like stablecoins, while continuing to coordinate and collaborate on issues of common...
‘Buy now, pay later’ faces CFPB scrutiny
(Dec. 23, 2021) Concern about accumulating debt, regulatory arbitrage, data harvesting, and other components associated with “buy now, pay later” (BNPL) plans has led the CFPB to open an inquiry...
Agency extends through next year COVID reg relief
(Dec. 23, 2021) Pandemic-related regulatory relief under rules on loan participations, eligible obligations, and occupancy requirements for certain properties has been extended to year-end 2022, under a temporary final rule...
NASCUS offers resources for dealing with Log4j vulnerability
(Dec. 23, 2021) The revelation of the “log4j” computer vulnerability made headlines this week, and NASCUS followed up by posting on its cybersecurity alerts and responses web pages guidance from...
Jan. 1 signals big changes with RBC, CCULR, LIBOR
(Dec. 23, 2021) When credit unions open their doors for business on Jan. 3, a revised regulatory landscape will stretch before them with three regulatory changes that took effect Jan....
TRANSITIONS: New DFI leader in WI
Cheryll Olson Collins will be the new secretary of the Wisconsin Department of Financial Institutions (DFI) effective Jan. 17, replacing Kathy Koltin Blumenfeld who has accepted a new position in...
Members: Look for dues invoices in your mailboxes
(Dec. 23, 2021) Reminder: NASCUS sent to credit union and associate members their 2022 membership dues invoices in mid-December. NASCUS primary points of contacts should look for an email from...
BRIEFLY: Student loan payment moratorium extended; Notice reminds of housing protections for servicemembers; QRM definition unchanged for 2022; Fourth FCU chartered in 2021; Happy holidays – see you next year!
(Dec. 23, 2021) The moratorium on federal student loan payments is extended through May 1, the Biden Administration announced Wednesday, pushing the deadline back from its previous end point of...
In turnaround, NCUA raises OTR, but not as much as proposed
(Dec. 17, 2021) An increased overhead transfer rate (OTR) for 2022, a final operating budget of $320 million for next year, and three final rules – on the complex credit...
NCUA BUDGET: NASCUS leader — Thoughtful consideration of feedback
(Dec. 17, 2021) NASCUS’ Ito acknowledged the agency’s efforts. “We commend the board for its thoughtful and unprecedented consideration of stakeholder feedback in finalizing the agency’s 2022 budget. On behalf...
NCUA BUDGET: Excess funds used to cut FCU operating fees
(Dec. 17, 2021) Meanwhile, the board also approved a $320.1 million operating budget that was $6 million less than that proposed. To reach that lower level, the agency also cut...
NEW RULES: CCULR adopted with 9% threshold …
(Dec. 17, 2021) A final rule adopting an “off ramp” from risk-based capital (RBC) requirements for complex credit unions will take effect Jan. 1 after unanimous action by the NCUA...