NCUA – Page 117 – 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

MI credit union merged after 6 months of conservatorship

August 20, 2018 0

A state-chartered, federally insured credit union in Warren, Mich., that was placed in conservatorship in late February was merged Friday into another credit union, the federal regulator of credit unions said. Ukrainian Future Credit Union […]

Credit union regulator taps veteran staffer to lead consumer protection efforts

August 20, 2018 0

Overseeing consumer financial protection policy and rulemaking efforts, among other things, for the federal credit union regulator will be the role of the new director for the agency’s office of consumer financial protection. The National […]

Proposal on credit union loan maturities, one-borrower limits slated for Federal Register

August 9, 2018 0

A proposed rule issued Aug. 2 on credit union loan maturities and limits on loans to one borrower is slated for publication Friday in the Federal Register. The proposal was issued with a 60-day comment […]

NCUA still eyeing alternative capital, payday-alternative loan proposals, McWatters tells group

August 9, 2018 0

Alternative capital for credit unions, addressed in a 2017 advance notice of proposed rulemaking (ANPR), is still on the agency’s regulatory radar, National Credit Union Administration (NCUA) Board Chairman J. Mark McWatters said Thursday in […]

NCUA’s final suspension and debarment procedures are effective Sept. 10

August 9, 2018 0

A set of final suspension and debarment procedures for contractors doing business with the National Credit Union Administration (NCUA) are set to take effect Sept. 10. Published in the Federal Register Thursday, the procedures were […]

Comments due Sept. 7 on one-year delay of risk-based capital for credit unions

August 8, 2018 0

A one-year delay of a risk-based capital rule that would be revised to apply to roughly 10% of all federally insured credit unions is out for comment until Sept. 7, according to a notice in […]

In ‘rare use’ of administrative charges, regulator seeks $4.5 million from former CEO of NY-based CU

August 7, 2018 0

Restitution of at least $3.5 million, and a $1 million penalty, is being sought from a former chief executive and board member of a New York-based credit union by the federal credit union regulator, the […]

NCUA posts FAQs about changes wrought by reg relief law in four areas for credit unions

August 7, 2018 0

The impact on credit unions of recently enacted regulatory relief legislation has been developed as a “frequently asked questions” list by the credit union federal regulator and posted by the agency on its website Tuesday. […]

In first letter to CUs of year, regulator outlines exam/supervision initiatives

August 6, 2018 0

Initiatives designed to “improve and modernize” exams and supervision – which aim to replace “outdated, end-of-life examination systems,” among other things – are outlined in the first “letter to credit unions” published by their federal […]

Federal credit union loan-rate cap remains 18% into March 2020

August 2, 2018 0

The loan interest rate cap for federal credit unions will remain at 18% through March 10, 2020, as a result of action during Thursday’s open meeting of the National Credit Union Administration (NCUA) Board. Without […]

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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 [...]