Press Room

NASCUS’ Regulator Board and Credit Union Advisory Council recently approved a new diversity, equity and inclusion (DEI) policy and re-enacted seven other policies on an array of topics including, protecting state credit union charters and options and cannabis banking legislation.

In response to the NCUA’s request for Request for Information (RFI) on Strategies for Future Examination and Supervision Utilizing Digital Technologies, NASCUS has written a comment letter supporting the Agency’s efforts to leverage technology in the examination and supervision process. NASCUS argues by doing so, NCUA could reduce burden on federally insured credit unions, enhance the agency’s cooperative supervisory relationship with its state regulatory peers, and generate costs savings to the National Credit Union Share Insurance Fund (NCUSIF).

NASCUS and CUNA are now accepting registration for Cybersecurity Response Exercise for credit unions greater than $250M webinar, scheduled for August 28 from 11:00 a.m.–3:00 p.m. ET.

The NCUA Board held another public meeting via live audio webcast due to the COVID-19 pandemic. At the meeting, the NCUA Board approved 60-day comment periods for proposed rules on Transitions to CECL Methodology and Fees Paid By Federal Credit Unions. The Board also approved a 60-day comment period for the Overhead Transfer Rate and Operating Fee Methodologies and approved a final rule on Field of Membership. The Board was briefed on the 2020 Mid-Session Budget as well.

NASCUS leadership adds a new member and re-elects two current members to its Regulator Board. The organization’s Credit Union Advisory Council also re-elected two current members. The members will be seated at the upcoming NASCUS virtual Annual Meeting on August 26, 2020.

Earlier this week, NASCUS hosted the 3rd Annual “Exchange” featuring regulators, credit union leaders and NCUA Board Chairman Rodney Hood.

This morning, the Senate Banking Committee held a Nomination Hearing for NCUA Board Member nominee Kyle Hauptman.

In light of the rising number of  COVID-19 cases around the country, the NASCUS State System Summit will be held virtually, at no charge, August 26, 2020 at 10 am Eastern. The meeting was originally scheduled to take place in New York City, August 11 - 14.

In response to the NCUA’s request for comments on its Subordinated Debt proposed rule, NASCUS has written a comment letter supporting the Agency’s efforts to include Subordinated Debt into the calculation of a credit union’s regulatory capital and offering recommendations that would foster continued modernization of the capital framework.

The NCUA Board held another public meeting via live audio webcast due to the COVID-19 pandemic. At the meeting, Chairman Hood announced the Agency will delay phase one of its transition to on-site operations, which could have begun as early as July 6, 2020. The Board was also briefed on Minority Depository Institutions and the NCUA Guaranteed Notes Oversight Program. The Board issued a request for information on offsite examination and supervision as well.

June 15, 2020 NASCUS CONGRATULATES KYLE HAUPTMAN ON HIS NOMINATION BY THE PRESIDENT TO THE NCUA BOARD “On behalf of the State Credit Union System, including state supervisory agencies and...

The NCUA Board held its second public meeting since the onset of the COVID-19 pandemic. At the meeting, Board issued an interim final rule on prompt corrective action (PCA) and a proposed rule on the joint ownership of share accounts. The Board was also briefed on the National Credit Union Share Insurance Fund's quarterly report and tabled an interim final rule on overdrafts.