NCUA – Page 112 – 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

THIS WEEK: FSOC meets; Volcker Rule comments due; NCUA eyes risk-based capital delay; Fed governors speak; more

October 15, 2018 0

The coming week will bring developments across a range of agencies, including a deadline for comments on the Volcker Rule, a public airing of views on the coming year’s budget for credit unions’ federal regulator […]

Regulators, in recent testimony, offer a peek at EGRRCPA actions still to come

October 12, 2018 0

Banking and credit union regulators have issued a number of proposed and final rules, and issued changes in policies, to carry out the requirements of this year’s regulatory relief law. But as much as they’ve […]

CU regulator’s board chairman offers congrats to chief of staff, who is leaving for top job at trade group

October 12, 2018 0

The chief of staff for the federal credit union regulator’s board chairman is leaving the agency for the top job at a state trade association, and her soon-to-be-former boss offered congratulations in a statement Friday. […]

NCUA reports 7th credit union liquidation of 2018

October 12, 2018 0

A $3 million-in-assets credit union in Staten Island, N.Y., on Friday became the seventh federally insured credit union liquidated in 2018, the National Credit Union Administration announced. Radio, Television and Communication Federal Credit Union, with […]

Final rule delaying risk-based capital rule by 1 year on regulator’s meeting agenda

October 11, 2018 0

A final rule supplementing risk-based capital regulation for credit unions by delaying the effective date by one year will be considered during a meeting of their federal regulator next week (Oct. 18), according to the […]

Agency proposes info-collection change on credit union service organizations, lowers burden estimate

October 11, 2018 0

Submission of written agreements between credit unions and credit union-owned service organizations (CUSOs) will be revised to only apply to new investments in CUSOs under a proposal out for a 60-day public comment period. The […]

Federal, state regulators issue joint statement on supervisory practices in Michael’s wake

October 10, 2018 0

Federal and state financial institution regulators teamed up Wednesday to issue a joint statement on supervisory practices regarding financial institutions affected by Hurricane Michael, which careened through the eastern Gulf Coast the same day. The […]

As Hurricane Michael nears, OCC, NCUA ready resources for banks, CUs

October 9, 2018 0

Federal bank and credit union regulators on Tuesday issued statements and noted resources available to assist institutions in the path of Hurricane Michael, which had grown to a Category 3 storm as it headed toward […]

Agency schedules webinar to explain rule change for expanding CU membership scope

October 9, 2018 0

A webinar providing more information for federally chartered credit unions (FCUs) on recent rule changes affecting membership regulations for the cooperative financial institutions is set for Oct. 24, the federal credit union regulator said Tuesday. […]

Letter outlines requirements for using narrative in expanding CU memberships; guidance for doing so too

October 9, 2018 0

Federally chartered credit unions may use a written narrative to meet requirements for expanding their membership scope in a community, as long as the narrative demonstrates the institution’s ability for serve the community and intent […]

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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 [...]