21dec10

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In final NCUA budget appearance, Ito outlines reasons why OTR is vital

(Dec. 10, 2021) Every dollar transferred from the federal credit union savings insurance fund to fund NCUA expenses is one dollar not available to cover losses in the system and...

Bill aims to reduce risk of reference rate transition

(Dec. 10, 2021) Minimizing the risk of disruptive litigation and adverse economic impacts associated with the transition away from the LIBOR reference rate is the aim of legislation passed by...

April 1 is date to pick consumer loan LIBOR replacement

(Dec. 10, 2021) Creditors must select by April 1 replacement indices for existing LIBOR-linked consumer loans, which include closed- and open-end credit provisions that require a link to an index...

Reporting of beneficial ownership outlined

(Dec. 10, 2021) A proposed rule designed to “protect the U.S. financial system from illicit use” by addressing who must report corporate beneficial ownership information – including what and when...

Comptroller candidate bows out after harsh reception

(Dec. 10, 2021) A new candidate for a permanent appointment as comptroller of the currency will have to be found by the Biden Administration after the most-recent nominee, Saule T....

Budget, 3 final rules, on packed board agenda

(Dec. 10, 2021) The 2022 budget, and three final rules — on mortgage servicing rights, subordinated debt and the complex credit union leverage ratio — are among the items the...

States keep on top of total assets (4th quarter in a row)

(Dec. 10, 2021) State-chartered credit unions maintained their hold on a slight majority of all credit union assets over the third quarter 2021, with about 50.2% of the total, according...

BRIEFLY: SAFE Banking Act falls short of NDAA bill; watch for dues notices!

(Dec. 10, 2021) The latest version of the National Defense Authorization Act (NDAA) – must-pass, annual legislation that includes funding for the military, among other things — does not include...

Proposal explores real estate cash purchase reporting

(Dec. 10, 2021) Real estate buyers using cash to purchase residential or commercial properties would be subject to new reporting requirements aimed at spoiling money laundering schemes under a new...