In the News
FFIEC Issues 2020 Edition of the Guide to HMDA Reporting
The 2020 edition of the “Guide to HMDA Reporting: Getting It Right!” is now available. The guide was developed by member agencies of the Federal Financial Institutions Examination Council (FFIEC),...
NCUA releases reg review schedule
Rules covering credit union service organizations (CUSOs), management official interlocks, and agency administrative actions are among the 16 regulations NCUA will be reviewing this year, according to the agency. Each...
NASCUS Releases Summary of NCUA “2nd Chance IRPS”
Recently, NCUA has finalized its revisions to the agency’s Interpretive Ruling and Policy Statement (IRPS) regarding statutory prohibitions imposed by § 205(d) of the Federal Credit Union Act (FCUA). Section...
NASCUS Summarizes NCUA’s Final Rule on Public Unit and Nonmember Deposits
NASCUS Legislative & Regulatory Affairs prepared a detailed summary of NCUA's Final Rule on Public Unit and Nonmember Deposits.
NASCUS members join CFPB Credit Union Advisory Council
CFPB Director Kathy Kraninger announced the appointment of members to the Credit Union Advisory Council (CUAC). Among the appointees are NASCUS members Teresa Campbell, President & CEO, San Diego County Credit Union and Brian Holst, General Counsel, Elevations Credit Union.
House Passes SAFE Act
The House of Representatives passed the Secure and Fair Enforcement Banking Act (SAFE Act), which would provide some protections to credit unions and other financial institutions that serve state-authorized cannabis related businesses.
CFPB to Host Symposium on Behavioral Economics
The CFPB will host a symposium on Behavioral Economics. The session will feature remarks from CFPB Director Kathleen Kraninger and Deputy Director Brian Johnson.
NASCUS Summarizes NCUA’s Fidelity Bond Rule
NCUA has finalized amendments to Part 713 and Part 704 regarding fidelity bond coverage for natural person and corporate credit unions. Part 713 applies to federally insured state-chartered credit unions...
NASCUS Summarizes NCUA Interim Hemp Guidance
NCUA has issued “interim guidance” for credit unions interested in serving the legalized hemp industry. The guidance will be updated as needed as necessary regulations are issued by the United States Department of Agriculture (USDA) and others regarding the growth, processing, manufacture, and retail sale of hemp.
NASCUS Summarizes First 2019 NCUA Risk Alert
NCUA issued the first Risk Alert of 2019 to remind credit unions of the risks related to Business Email Compromise (BEC) fraud and steps that institutions should consider in order to mitigate the risk of falling prey to such scams.
NASCUS congratulates NCUA on the field of membership ruling
In a victory for NCUA and the credit union system, the District of Columbia Circuit Court of Appeals upheld virtually all aspects of NCUA’s Field of Membership Rule, overturning the lower district court which had struck down two provisions of the rule.
NASCUS Comments: ANPR on compensation for loans, lines of credit to members
NASCUS Comments: ANPR on compensation for loans, lines of credit to members June 24, 2019 Gerard Poliquin Secretary of the Board National Credit Union Administration 1775 Duke Street Alexandria, VA...