NCUA – Page 102 – Regulatory Report

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[ 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

‘Proof of concept’ application for new credit union charter organizing groups proposed

March 8, 2019 0

A new “proof of concept” application for groups wishing to obtain a federal credit union charter is out for comment until May 10, according to a National Credit Union Administration (NCUA) notice published Monday (March […]

NCUA alerts credit unions to CFPB’s 2019 rural, underserved counties list

March 8, 2019 0

An updated list of rural and underserved counties where lenders are exempt from certain Truth in Lending Act (TILA) mortgage rule requirements has been published by the Consumer Financial Protection Bureau (CFPB) and announced to […]

Share insurance fund report, final lending rule on NCUA Board agenda next week

March 7, 2019 0

The March 14 open meeting for the federal regulator of credit unions is expected to be a fairly brief one, with only two items slated for its agenda: a quarterly report on the fund that […]

Regulator puts focus for credit unions on TRID FAQs issued by consumer bureau – including ‘safe harbor’

March 7, 2019 0

Four “frequently asked questions” issued by the federal consumer financial protection agency last month about the TILA-RESPA Integrated Disclosure (TRID) rule are a focus of an National Credit Union Administration (NCUA) Consumer Financial Protection update […]

Credit unions to receive more than $160 million in ‘equity distribution,’ agency announces

March 7, 2019 0

Federally insured credit unions will receive an equity distribution of more than $160 million this year from the fund that insures savings in the institutions, the credit union federal regulator said Thursday. In a release, […]

Credit union assets climb to $1.45 trillion, loans hit $1 trillion in 2018, 4Q data show

March 6, 2019 0

The nation’s federally insured credit unions (FICUs) grew total assets by $75 billion, or 5.4%, to a total of $1.45 trillion and saw net income rise 25.8% during the 12 months ending Dec. 31, 2018, […]

In February action, credit union regulator prohibits former PA employee

February 28, 2019 0

A former employee of a Wilkes-Barre, Pa., credit union was in February prohibited from participating in the affairs of any federally insured financial institution, the federal credit union regulator said Thursday. The National Credit Union […]

Agency to announce loan awards open for low-income designated credit unions

February 26, 2019 0

Loan awards are available for low-income designated credit unions (LICUs) through the program that helps the credit unions support the communities in which they operate, the federal credit union regulator will announce as early as […]

Credit union regulator nominees approved by panel for consideration by full Senate

February 26, 2019 0

Nominees for two seats on the board of the federal regulator for credit unions were approved on a voice vote by the Senate Banking Committee Tuesday; the nominations now head to the full Senate for […]

THIS WEEK: Panel votes on NCUA nominations, Powell gives monetary policy report to Congress, more

February 25, 2019 0

Senate committee votes on two nominations to the board of the federal credit union regulatory agency, the Federal Reserve Board chairman’s monetary policy report to Congress, and speeches by the chairman and vice chairman of […]

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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 [...]