News Archives
BRIEFLY: Tiny FCU conserved; Louisiana leader retires; OCC developing guidance on climate change risk; Exam Council revamps notification system
(Nov. 12, 2021) NCUA late last week placed the tiny Pomona Postal FCU of Pomona, Calif., into conservatorship, saying the credit union’s most recent call report shows it had 717...
Report calls for only federally insured CUs, banks to be stablecoin issuers
(Nov. 5, 2021) Payment stablecoins and their arrangements should be subject to a federal regulatory framework on a consistent and comprehensive basis through an act of Congress – including by...
Order, a first, aims to patch cyber vulnerabilities
(Nov. 5, 2021) Addressing and mitigating actively exploited vulnerabilities on all federal agency computer networks is the aim of a directive issued this week by the federal agency that oversees...
Letter urges CUs to participate in tax assistance program
(Nov. 5, 2021) Credit unions are encouraged to participate in the free program that helps members address their federal income taxes; credit unions have until Nov. 15 to contact the...
Bureau asserts ‘name-only’ matching falls outside of FCRA
(Nov. 5, 2021) A consumer reporting agency that uses “name-only” matching procedures is not using reasonable procedures mandated under federal consumer protection laws, the CFPB said this week. In an...
CEOs, regulators take on cutting-edge issues
(Clockwise from top left) Moderator George Hofheimer (Hofheimer Strategy Advisors), left, NASCUS President and CEO Lucy Ito and NASCUS EVP and General Counsel Brian Knight take in the Exchange discussion;...
NASCUS takes key role in DEI Summit
Participants in a first day’s panel at the NCUA DEI Summit this week were (from left) NASCUS’ Lucy Ito, CUNA’s Jim Nussle, and NAFCU’s B. Dan Berger. (Nov. 5, 2021)...
BRIEFLY: Fed statement: climate change poses ‘significant challenges’ to financial stability, safety and soundness; FDIC creates office to support ‘mission-driven banks’
(Nov. 5, 2021) Climate change poses “significant challenges” to the safety and soundness of financial institutions and the stability of the financial sector more broadly, the Federal Reserve said in...
Coordination among regulators crucial on digital assets, letter argues
(Oct. 29, 2021) Coordination with state and other federal regulators on regulation of decentralized finance (DeFi) and other emerging uses of digital assets is crucial to avoid conflicting rules and...
Sub debt amendment OK, but other changes needed
(Oct. 29, 2021) Now is the time to consider additional changes to the new subordinated debt rule – rather than adopt just one change to the rule — to ensure...
Federal crypto-asset oversight on horizon?
(Oct. 29, 2021) A series of policy statements on crypto assets activities by banks is forthcoming from federal banking regulators, the chairman of the FDIC Board said this week, as...
New leader cites triad of key goals for CFPB
(Oct. 29, 2021) Stimulating greater competition in consumer financial markets, sharpening focus on repeat offenders, and restoring “relationship banking” make up the “path forward” for CFPB, its director told a...