22jan21

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BRIEFLY: Letter reminds FCUs their op fees drop average of nearly 25%; NCUA, bank regulators dinged in privacy report; ‘Consumer law’ task force records to be released

(Jan. 21, 2022) Federal credit union (FCU) operating fees will decrease by an average of 23.7% in 2022, NCUA told the FCUs in a letter Thursday (letter to FCUs 22-FCU-01)....

Board to consider proposal on succession planning, hear briefings

(Jan. 21, 2022) A proposed rule on succession planning at federal credit unions (under Part 701 of NCUA regulations), and a final rule on resetting civil monetary penalties (CMP), as...

Fed issues ‘first step’ paper on CBDCs

(Jan. 21, 2022) Pros and cons of a U.S. central bank digital currency (CBDC) are examined in a discussion paper released by the Federal Reserve Thursday, the agency said, which...

Former state regulator among trio of Fed nominees

(Jan. 21, 2022) The names of three candidates to fill three open seats on the Federal Reserve Board are now in the hands of the U.S. Senate – including the...

AROUND THE STATES: Maine report shows credit unions held 22% of all assets in state at MY ‘21

(Jan. 21, 2022) There were 56 credit unions authorized to do business in Maine at mid-year 2021 – which altogether held $10.3 billion in assets, for 22.07% of all financial...

CA latest state to earn reaccreditation

(Jan. 21, 2022) The California Department of Financial Protection & Innovation is the latest credit union state supervisory authority earn reaccreditation from NASCUS, the association announced this week. The achievement...

Webinar today looks at vaccine mandate ruling

(Jan. 21, 2022) A free, members-only webinar outlining the impact of the U.S. Supreme Court’s (SCOTUS) decision striking down vaccine mandates for large employers – but also upholding a mandate...

For states, exam recordings depend on state guidance

(Jan. 21, 2022) Under the last portion of the letter, on the agency’s exam program – and particularly on “recording of official meetings” – the letter holds a footnote stating...

NCUA issues ‘22 supervisory priorities topped by credit risk management, cybersecurity, payments

(Jan. 21, 2022) Credit risk management, cybersecurity and payment systems are the three top supervisory priorities for NCUA, the agency said this week. Additionally, the agency indicated it will also...