NCUA – Regulatory Report

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[ January 6, 2025 ] Fed’s top supervisor announces resignation effective next month in advance of new president The Fed
[ January 6, 2025 ] CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans CFPB
[ January 3, 2025 ] Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings Data
[ January 2, 2025 ] Three banks earn ‘outstanding’ ratings for CRA compliance as agency closes out reporting for year OCC
[ December 31, 2024 ] Two former credit union workers prohibited from financial institution work, leadership NCUA

Two former credit union workers prohibited from financial institution work, leadership

December 31, 2024 0

Two former credit union workers in Virginia and Georgia were the subjects of prohibition actions in December, the federal regulator said Tuesday. The actions permanently prohibit both from participating in the affairs of any federally […]

Credit union regulator gives green light for some to use investment pilot program

December 30, 2024 0

Up to 30 complex federal credit unions (FCUs) will be allowed to engage in investment activities prohibited under portions of federal rules – but permitted by statute – under a pilot program approved Monday by the […]

WARM holiday greetings: Agency issues quarterly update to tool for calculating CECL

December 20, 2024 0

The latest life-of-loan – or Weighted Average Remaining Maturity (WARM) – factors are included in the updated simplified tool for credit unions released Friday to measure credit losses, their federal regulator said. The National Credit […]

Final credit union succession plan rule for key positions – anticipating unplanned mergers — set to take effect in 2026

December 18, 2024 0

A revised final rule that requires federally insured credit union (FICU) boards of directors to establish succession planning processes for key positions was approved Tuesday by the board of the federal credit union regulator, which […]

NCUA Board approves $382.3 million 2025 operating budget; $13.1 million for capital, insurance fund administrative expense budgets

December 17, 2024 0

The 2025-2026 operating budgets – combined totals of $395.4 million and $419.5 million, respectively – of the National Credit Union Administration (NCUA) were approved Tuesday by the agency board on a unanimous vote of 3-0. […]

New credit union in Georgia is fourth chartered by regulator this year

December 11, 2024 0

There is a new federally chartered credit union in Atlanta, Ga., which will serve persons in Austell, Ga., a low-income community, the federal credit union regulator said Wednesday. Soul Community Federal Credit Union (FCU) in […]

Overdraft, NSF fees that blindside credit union members may spark litigation, compliance risk, agency warns

December 10, 2024 0

Overdraft or non-sufficient funds (NSF) fees that blindside members may expose credit unions to heightened reputational, consumer compliance, third-party, and litigation risk, their federal regulator warned in a letter issued Tuesday. In a Letter to […]

Delinquencies rose, net income fell at credit unions in third quarter, performance data show

December 5, 2024 0

Delinquency rates at credit unions rose in the third quarter, and net income for the cooperative financial institutions fell, according to performance data released Thursday by their federal regulator. According to the third-quarter performance results […]

Agencies jointly issue examples of risk management practices effective in combatting elder financial abuse

December 4, 2024 0

Examples of risk management and other practices that may be effective in combatting elder financial exploitation were issued in a joint statement Wednesday by the five federal financial institution regulators, state regulators and the federal […]

Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. […]

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Fed’s top supervisor announces resignation effective next month in advance of new president

January 6, 2025 0

The top regulatory supervisor for the Federal Reserve will step down from his post in late February but will remain on the board of the agency as he continues to fill his board term which runs to the next decade, [...]
CFPB sues Berkshire Hathaway affiliate that it says pushed people into unaffordable mobile home loans

January 6, 2025 0

A suit filed Monday by the federal consumer financial protection agency says that a financing unit of Clayton Homes, Inc. – the largest manufactured home builder in the U.S. and a wholly owned subsidiary of Berkshire Hathaway, Inc. – provided [...]
Eighth largest bank earns ‘outstanding’ rating for CRA compliance in FDIC latest rankings

January 3, 2025 0

Five banks – including eighth largest in the nation — were rated “outstanding” in their lending to low- and moderate-income (LMI) borrowers following examinations for anti-redlining rules; one bank was rated “needs improvement,” according to results for October released Friday [...]