NCUA – Page 116 – 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

Foster elevated to NCUA chief information officer beginning Oct. 14

September 4, 2018 0

The National Credit Union Administration (NCUA) on Tuesday said it has selected Robert Foster, to serve as its chief information officer (CIO) beginning Oct. 14. He has served as the agency’s deputy CIO since August […]

UPDATED: NCUA revising call report for FASB changes and others, seeks comments

September 4, 2018 0

The federal regulator of credit unions is revising its call report and profile to bring it up to date with recent changes in accounting standards and other modifications in reporting requirements. The National Credit Union […]

Regulator closes $1.1 billion CU, following earlier charges against former executive

August 31, 2018 0

A $1.1 billion New York City-area credit union — hobbled by the collapse of the taxicab medallion market in which it had been heavily involved, as well as charges by the agency of executive misconduct […]

NCUA prohibits 3 former credit union employees from future work in FIs

August 31, 2018 0

Three former employees of credit unions (including two that were liquidated in recent years) are prohibited from future participation in the affairs of any federally insured financial institution under orders published online by the National […]

Former employee of closed MI credit union barred from FI service

August 30, 2018 0

Stanley D. Hayes, a former employee of the now-defunct Valley State Employees Credit Union (Saginaw, Mich.), has been barred by the federal regulator of credit unions from any future participation in the affairs of a […]

NCUA updating its consumer complaint records system; comments due Sept. 14

August 29, 2018 0

The federal regulator of credit unions is making some changes to its consumer complaints records system, including a change allowing information to be shared with other agencies when necessary to respond to a data breach. […]

First new FCU of year chartered; will serve Nepali American community, NCUA says

August 28, 2018 0

A federal charter and share insurance fund coverage for the new Everest Federal Credit Union (Jackson Heights, N.Y.), a credit union serving Nepali Americans, has been granted by the National Credit Union Administration, the agency […]

NCUA writes CUs on new BSA/AML rule on beneficial ownership, notes limits of its own lenience for good-faith efforts in ’18

August 27, 2018 0

A letter outlining examination expectations under the Financial Crimes Enforcement Network’s (FinCEN) beneficial ownership rule was issued Monday by the National Credit Union Administration and indicates the agency’s examiners will accept reasonable, good faith efforts […]

Bank, CU, securities regulators hold diversity and inclusion summit Sept. 13

August 22, 2018 0

Federal financial industry regulators will jointly host the first-ever Financial Regulatory Agencies’ Diversity and Inclusion Summit Sept. 13 in New York City, the federal agency that regulates credit unions said in an email announcement Monday. […]

FASB proposes amending transition requirements, scope of CECL standard

August 20, 2018 0

Amending the transition requirements and scope of the current expected credit losses (CECL) standard issued by Financial Accounting Standards Board (FASB) is the aim of a proposal issued Monday by the group. Comments are due […]

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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 [...]