NASCUS

Proposal would track virtual currency transactions

(Dec. 23, 2020) New requirements for certain transactions involving convertible virtual currency (CVD) or digital assets with legal tender (LTDA) status were proposed by the Treasury’s financial crimes arm today,...

Bank regulators issue joint rule on security alerts

(Dec. 23, 2020) All three federal banking agencies late last week jointly released a proposal requiring banks and banking organizations they supervise to promptly notify their primary federal regulator in...

NASCUS MEMBER UPDATE: Invoices on way; NASCUS 365 in full swing; Last call for Pierre Jay Award nominations

(Dec. 23, 2020) NASCUS 2021 membership invoices NASCUS credit union and associate members were sent their 2021 membership renewal invoices Tuesday from [email protected]. Please contact NASCUS member relations staff if...

BRIEFLY: Waller joins Fed Board (nothing more yet on Shelton); Big banks pass stress test (but get no relief on capital); NCUA plans human trafficking webinar; NASCUS Report takes a break next week (see you again Jan. 8); Happy Holidays – and have a terrific New Year!

(Dec. 23, 2020) The Federal Reserve Board now has six (out of a total seven) members, as newest Gov. Christopher Waller joined the board after taking his oath of office...

Sub debt rule adopted by NCUA after years of work by agency, states

(Dec. 18, 2020) Well-capitalized, federally insured credit unions could count subordinated debt as capital for risk-based net worth purposes under a new rule approved by the NCUA Board at its...

NASCUS: Final rule was long time in coming

(Dec. 18, 2020) NASCUS President and CEO Lucy Ito, in a press statement, praised the NCUA Board for finalizing the subordinated debt rule, noting the state system’s long support for...

Loan participations temp rule extended; 3 FCU proposals issued

(Dec. 18, 2020) In other action at Thursday’s meeting, the NCUA Board issued one final rule and three proposed regulations – with three of those approved on split votes after...

Hauptman eyeing three priorities for NCUA

(Dec. 18, 2020) Kyle Hauptman, sworn in as the latest (and 24th) member of the NCUA Board this week prior to participation in the Thursday and today’s board meetings, said...

Board set to decide 2021 budget/OTR today

(Dec. 18, 2020) With a rare second monthly meeting scheduled for today (Friday, Dec. 18), the full-complement NCUA Board will consider the 2021 budget for the agency, which includes an...

State system keeping tabs on impact of big hack

(Dec. 18, 2020) NASCUS is in touch with federal authorities about the recent – and some say catastrophic – hack of IT systems by a nation-state hacker group that was...

Proposal requires ‘prompt’ alert to security incidents

(Dec. 18, 2020) A new proposal that would require financial institutions to provide “prompt notification” to their federal regulators upon occurrence of a security incident may be coming to an...

BRIEFLY: Job openings in WA; GAO sees little adverse impact from leveraged lending; Holiday schedule for <i>NASCUS Report</i>

(Dec. 18, 2020) The Credit Union Department of the Washington Department of Financial Institutions has two job openings (which are posted on nascus.org right now): Financial Examiner 2-3 and Financial...