In the News
Good news on premium, but vigilance necessary, Ito notes
(May 21, 2021) The development that, at least for now, a premium won’t be necessary to be paid by federally insured credit unions to the NCUSIF is good news for...
Board looks for input on how NOL is calculated
(May 21, 2021) In a related move Thursday, the NCUA Board voted unanimously to seek public comments on its policy that guides the determination of the insurance fund’s Normal Operating...
Final derivatives rule approved
(May 21, 2021) Also at its Thursday meeting, a final rule on derivatives was approved unanimously by the NCUA Board, making three changes from the proposal issued last December. The...
Letters: stop using LIBOR ASAP
(May 21, 2021) Stopping the use of LIBOR as a reference rate as soon as possible as a year-end expiration date looms is encouraged for all federally insured credit unions,...
Vendor exam authority, insurance fund changes sought
(May 21, 2021) Giving his agency examination and enforcement authority over third-party vendors, and making key changes to the structure of the federal savings insurance fund for credit unions, were...
Summary outlines compliance date for QM rule
(May 21, 2021) The CFPB’s final rule to delay the compliance date for its new “qualified mortgage” (QM) rule to Oct. 1, 2022 has been summarized by NASCUS and posted...
Agencies offer more time to comment on AI
(May 21, 2021) An extension to July 1 for the deadline to comment on how credit unions and banks use artificial intelligence (AI) in their activities was announced this week...
Study: more HMDA info could help with oversight
(May 21, 2021) Reporting exemptions on home mortgage lending data for smaller credit unions and banks had little impact on data availability, but more information from the lenders would help...
NASCUS 101 is back, with 4 quarterly events
(May 21, 2021) NASCUS 101 – the popular series of webinars that explains how NASCUS members can get the most out of their memberships – is back for 2021. The...
BRIEFLY: In a first for states, OH achieves four-way accreditation; OCC to reconsider last year’s CRA rule; TRID FAQs updated for housing assistance, BUILD Act lending
(May 21, 2021) Congratulations to the Ohio Department of Commerce/Division of Financial Institutions to be the first state supervisory authority to become accredited under all four accreditation programs: credit union...
Key comments: Opposition to provisions of RBC simplification proposal
(May 14, 2021) Two significant comment letters were submitted this week by the state system, on simplification of risk-based capital requirements and on adding an “S” for sensitivity to market...
Key comments: Support for adding ‘S’ for ‘sensitivity’ to exam rating system
(May 14, 2021) Moving expeditiously on adding a “market risk sensitivity” component to the credit union examination system – that is, adding an “S” to “CAMEL” – would better align...