News stories tagged NCUA
Summary outlines new FCU CUSO rule
(Nov. 12, 2021) A summary of NCUA’s new rule on federal credit union service organizations (CUSOs) – adopted Oct. 21 by the NCUA Board on a 2-1 vote – has...
BRIEFLY: Tiny FCU conserved; Louisiana leader retires; OCC developing guidance on climate change risk; Exam Council revamps notification system
(Nov. 12, 2021) NCUA late last week placed the tiny Pomona Postal FCU of Pomona, Calif., into conservatorship, saying the credit union’s most recent call report shows it had 717...
NASCUS takes key role in DEI Summit
Participants in a first day’s panel at the NCUA DEI Summit this week were (from left) NASCUS’ Lucy Ito, CUNA’s Jim Nussle, and NAFCU’s B. Dan Berger. (Nov. 5, 2021)...
Letter urges CUs to participate in tax assistance program
(Nov. 5, 2021) Credit unions are encouraged to participate in the free program that helps members address their federal income taxes; credit unions have until Nov. 15 to contact the...
Coordination among regulators crucial on digital assets, letter argues
(Oct. 29, 2021) Coordination with state and other federal regulators on regulation of decentralized finance (DeFi) and other emerging uses of digital assets is crucial to avoid conflicting rules and...
NCUA charters another FCU – its 3rd – for 2021
(Oct. 29, 2021) A Texas credit union that expects to start operations by year’s end is the third to be chartered in 2021 by NCUA, the agency said this week....
LICUs may accept 30-year sub-debt ECIP
(Oct. 22, 2021) Eligible low-income credit unions (LICUs) may accept 30-year subordinated debt investments from a Treasury program meant to encourage the institutions to augment efforts to support small businesses...
At long last, joining 25 states, NCUA adopts ‘CAMELS’
(Oct. 22, 2021) An “S” for “market sensitivity” is now part of the NCUA exam rating system, thanks to a unanimous vote by the agency board at its Thursday meeting...
Congratulations to NCUA for joining states on ‘S’
(Oct. 22, 2021) NASCUS President and CEO Lucy Ito congratulated the NCUA Board for finalizing an “S” component (for market sensitivity) to the CAMEL rating system (making it now “CAMELS”)...
Risk alert focuses on email, wire fraud
(Oct. 22, 2021) Speaking of cybersecurity: Use of cloud-based email services are proving to be targets for cybercriminals, and credit unions need to take steps to thwart any exploitation and...
CCULR OK, but some considerations needed, NASCUS writes
(Oct. 22, 2021) The state system supports the NCUA proposed rule establishing a “complex credit union leverage ratio” (CCULR), as well as a quick implementation of a final regulation, but...
Regulators ramp up guidance on LIBOR transition
(Oct. 22, 2021) Actions credit unions, banks and nonbanks alike should consider taking to ensure safe-and-sound practices during the transition away from the LIBOR reference rate were outlined in joint...