NCUA – Regulatory Report

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[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other
[ November 18, 2024 ] More days allowed for commenting on deposit insurance recordkeeping for custodial accounts FDIC
[ November 15, 2024 ] Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds The Fed
[ November 15, 2024 ] CLF’s 2025-26 budget, share insurance fund update slated next Thursday NCUA
[ November 15, 2024 ] Farmer Mac stock a permissible investment for some FCUs, agency opinion states NCUA

CLF’s 2025-26 budget, share insurance fund update slated next Thursday

November 15, 2024 0

The budget for the agency’s liquidity facility for credit unions is slated for action during the Nov. 21 open meeting of the National Credit Union Administration (NCUA) Board, which will also receive a credit union […]

Farmer Mac stock a permissible investment for some FCUs, agency opinion states

November 15, 2024 0

Federal credit unions (FCUs) may invest in common stock of the Federal Agricultural Mortgage Corporation, or Farmer Mac, to the extent they must in order to serve as loan originators or sellers in the program, […]

OIG sets 4 recommendations for NCUA’s federal chartering process

November 14, 2024 0

Automation, better communication on process and a process for handling inquiries are recommended for the federal credit union regulator’s chartering process in an inspector general audit report released recently on the agency’s website. The National […]

Small FL credit union conserved

November 14, 2024 0

The $59 million-in-assets Alliance Credit Union of Florida, Gainesville, Fla., was conserved last week by the state’s financial regulator, with the National Credit Union Administration (NCUA) named conservator. No specific reason for the conservatorship was […]

Credit union slapped with $1.5 million fine over ‘botched’ online banking system rollout blocking consumer account access

October 31, 2024 0

A credit union in Jacksonville, Fla., faces at $1.5 million fine for allegedly “stranding consumers” from accessing their money and accounts resulting from the “botched” rollout of a new online banking system, the federal consumer […]

Agency prohibits four former credit union workers from working at financial institutions

October 31, 2024 0

Four former credit union employees were prohibited in October from further service at federally insured financial institutions, their federal regulator said Thursday, with one in the wake of a $211,000 theft. The National Credit Union […]

Veteran in ethics, anti-harassment programs named permanent chief compliance officer for credit union regulator

October 31, 2024 0

Certifying compliance with federal ethics laws and regulations, and promoting a culture of accountability and integrity, are two of the roles assigned to the new chief ethics counsel for the federal credit union regulator, the […]

Credit union regulator proposes $433 million budget for next year, up 12.2% from 2024

October 30, 2024 0

A budget of $433 million in 2025 – up 12.2% from the current year’s spending plan – is proposed in a draft posted by the federal credit union regulator on its website Wednesday. The National […]

Credit unions added four new charters in FY 2024; cybersecurity incidents detailed to regulator board

October 24, 2024 0

Four new federally insured credit unions have been chartered so far in 2024, in line with similar growth of new charters over the last three years, the board of the federal credit union regulator was […]

Credit union board members have key roles in cybersecurity, regulator states in letter

October 21, 2024 0

Federally insured credit unions reported 1,072 cyber incidents from Sept. 1, 2023 to Aug. 31 2024, with 70% of those related to the use or involvement of a third-party vendor, credit unions were told by […]

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Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]
Delinquency rates on rise for CRE, some consumer loans, Fed supervision report finds

November 15, 2024 0

Delinquency rates for some commercial real estate (CRE) loans and some consumer loans have increased to above pre-pandemic levels, and banks have boosted the allowance for credit losses in anticipation of further deterioration in asset quality, according to a supervision [...]
CLF’s 2025-26 budget, share insurance fund update slated next Thursday

November 15, 2024 0

The budget for the agency’s liquidity facility for credit unions is slated for action during the Nov. 21 open meeting of the National Credit Union Administration (NCUA) Board, which will also receive a credit union share (deposit) insurance fund briefing. [...]
Farmer Mac stock a permissible investment for some FCUs, agency opinion states

November 15, 2024 0

Federal credit unions (FCUs) may invest in common stock of the Federal Agricultural Mortgage Corporation, or Farmer Mac, to the extent they must in order to serve as loan originators or sellers in the program, the federal credit union regulator [...]