NCUA – Page 128 – 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

CU supervisor looks at insurance program equity distributions, rebates from special stabilization fund

February 12, 2018 0

A final rule for calculating pro-rata share distributions of National Credit Union Share Insurance Fund (NCUSIF) equity, and rebates from the now-closed fund to resolve “corporate credit unions,” will be considered by the NCUA Board […]

CU regulator prohibits four from financial institutions; one to pay nearly $1 million in restitution

January 31, 2018 0

A former employee of a credit union who pleaded guilty to embezzlement charges and was ordered to pay nearly $1 million in restitution has been prohibited from participating in the affairs of any federally insured […]

Tiny Chicago credit union first to be liquidated in 2018

January 30, 2018 0

A $140,000 credit union serving fewer than 200 members was liquidated Tuesday by the Illinois Department of Financial and Professional Regulation (IDFPR); the National Credit Union Administration (NCUA) was named liquidating agent. St. Elizabeth’s Credit […]

Comments will be due in April on proposed changes to credit union call report, profile

January 30, 2018 0

Comments will be due April 2 on proposed updates to credit union call reports and profiles, as released by the National Credit Union Administration (NCUA) Board last week. The “request for information” on the call […]

Low-income credit unions in hurricane-affected areas can become CDFIs, agency announces

January 26, 2018 0

Low-income credit unions in areas hit hardest by last summer’s hurricanes – including those in Florida, Puerto Rico, Texas and the U.S. Virgin Islands (USVI) – have a “special opportunity” to seek certification as Community […]

Agency issues prototype call report; signals delay, change for risk-based capital rule

January 25, 2018 0

Credit unions will have 60 days to weigh in on both a revised, streamlined call report and an annual operations profile as the National Credit Union Administration (NCUA) strives to unveil the new forms by […]

CU regulator to consider strategic plan, liquidation rule, call report updates

January 18, 2018 0

A strategic plan for the next four years, a proposed rule on involuntary liquidations, and board briefings on call report modernization and inflation adjustments for civil money penalties (CMPs) are all included on the agenda […]

Credit union regulator will collect operating fees, insurance fund adjustments by April 17

January 18, 2018 0

Operating fees from federally chartered credit unions (FCUs) are due April 17, the federal credit union regulator said Wednesday, and will be based on year-end 2017 asset sizes. Additionally, the agency said in its Letter […]

House lawmakers continue ‘reg relief’ campaign, marking up latest laundry list of provisions

January 16, 2018 0

At least 17 “regulatory relief” items – including several provisions based on similar items contained in the already-House approved H.R. 10, the Financial CHOICE Act – will be marked up by the Financial Services Committee […]

(Updated) This week: Anti-money laundering hearings continue; nominations considered (again)

January 15, 2018 0

An examination of federal efforts to combat money laundering will continue this week as senators hold their second hearing on the subject in the past week, while House members mark up more “regulatory relief” legislation. […]

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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 [...]