In the News
‘Guidance’ offered on supervisory guidance proposal
(Jan. 8, 2021) The state credit union system supports NCUA’s efforts to clarify how it will treat supervisory guidance issued by the agency in the context of examination and supervision,...
Latest summaries look at SARs, Reg Z and Reg M exemptions
(Jan. 8, 2021) Two new summaries – of an NCUA proposal on exemptions for suspicious activity reports (SARs) and exemption thresholds for consumer reporting requirements – have been published by...
Consumer law reform group touches on state regulation
(Jan. 8, 2021) Considering the benefits and costs of preempting state law where conflicts can impede the provision of valuable products and services (such as the regulation of FinTech companies...
Bureau issues trial licenses for ‘sandbox’ products
(Jan. 8, 2021) A “dual-feature credit card” and a program allowing employees access to their earned but unpaid wages prior to payday got the green light late last week for...
New Reg C, Reg Z thresholds took effect Jan. 1
(Jan. 8, 2021) Credit unions and banks with assets of $48 million or less as of Dec. 31 are exempt from collecting data in 2021 under Regulation C (Home Mortgage...
Agencies: SolarWinds hack has limited follow on so far
(Jan. 8, 2021) A major computer hack that was originally estimated to have affected 18,000 businesses, including federal agencies, and is now being blamed squarely on Russian origins, so far...
Democrats take Senate, portending changes ahead
(Jan. 8, 2021) The election of two Democrats from Georgia to the U.S. Senate this week – giving the Democrats a slim majority and therefore control — means some changes...
BRIEFLY: PPP webinar set for Monday (Jan. 11); FinCEN warns on COVID vaccine scams
(Jan. 8, 2021) Small Business Administration (SBA) and Treasury Department officials will provide an overview of the new Paycheck Protection Program (PPP) features associated with the recently passed Economic Aid...
Solar Winds hack – Russian in origination – has limited follow on so far, intelligence agencies find
A major computer hack that was originally estimated to have affected 18,000 businesses, including federal agencies, and is now being blamed squarely on Russian origins, so far seems to have...
OTR 2021 increase a sign for agency to reconsider expense allocation, Ito says
(Dec. 23, 2020) A 2021 budget of $341.4 million – with an overhead transfer rate (OTR) of 62.3% — was approved by the NCUA Board on a split vote of...
Hauptman now vice chairman; names top adviser
(Dec. 23, 2020) A new title has been bestowed on the newest member of the three-member board for the NCUA, who is now “vice chairman,” according to a release from...
Rule outlines ‘detailed disclosures’ in collection communications
(Dec. 23, 2020) Debt collectors must provide, at the outset of collection communications, detailed disclosures about the consumer’s debt and rights in debt collection, along with information to help consumers...