NCUA – Page 100 – Regulatory Report

What's up

[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other

Trump switches chairmen at credit union regulator; McWatters swears in new leader Hood

April 8, 2019 0

In a surprising move Monday, incoming National Credit Union Administration (NCUA) Board Member Rodney E. Hood was designated chairman of the agency panel by President Donald Trump. Hood was sworn into office by his predecessor […]

UPDATED: FFIEC cybersecurity assessment tool up for renewal; comments invited

April 4, 2019 0

Federal bank and credit union regulators are inviting comments until June 4 on renewal of the FFIEC Cybersecurity Assessment Tool created to assist financial institutions in assessing their inherent cyber risks and risk management capabilities, […]

Review shows NCUSIF not susceptible to ‘significant improper payments,’ OIG tells senator

April 4, 2019 0

A statutorily required review has shown that programs of the federal fund that insures savings in credit unions are not susceptible to significant improper payments, defined as those exceeding 1.5% of program outlays and $10 […]

OIG cites weaknesses in NCUA monitoring, accounting of IT equipment

April 3, 2019 0

An audit of information technology equipment inventory by the National Credit Union Administration (NCUA) found that the agency did not adequately monitor, account, and dispose of all its information technology (IT) equipment and that improvements […]

Regulator plans webinar on programs for low-income designated credit unions

April 2, 2019 0

Programs and initiatives for minority depository institutions, the credit union chartering process and the grant round for low-income credit unions are among the topics to be discussed in an April 24 webinar by the federal […]

OIG cites poor underwriting, unresponsive boards in report on failed taxi medallion CUs; says NCUA could have acted earlier

April 1, 2019 0

An inspector general report on three credit unions that failed in 2018 under the weight of taxi medallion loans, costing the federal share insurance fund an estimated $765.5 million, recommends that the federal regulator improve […]

CBS employees’ credit union liquidated; another assumes its assets, members

April 1, 2019 0

A credit union that provided financial services to employees of CBS, Inc., Mary Tyler Moore Productions, and CBS/MTM who work in Studio City, California, was liquidated Friday and its assets, loans, shares and members assumed […]

NCUA bars two, including a former CUSO employee, from future service in insured FIs

March 29, 2019 0

Two individuals formerly associated with credit unions are prohibited from participating in the affairs of any federally insured financial institution under orders announced Friday by the federal credit union regulatory agency. The National Credit Union […]

Federal deposit, savings insurance funds merely outlined in GAO report; solid financial positions noted

March 27, 2019 0

Both of the federal insurance funds for deposits and savings in banks, thrifts and credit unions are outlined in a new report from the congressional watchdog about federal insurance programs overall – but the report […]

Agency points to more information about $160 million insurance fund equity distribution, to be made in second quarter

March 26, 2019 0

More information about a more than $160 million dividend distribution to credit unions from the federal insurer of credit union savings – to be paid in the second quarter of the year (which starts next […]

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Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
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. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]
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 [...]