NCUA – Page 13 – Regulatory Report

What's up

[ April 4, 2025 ] Two banks need improvement in CRA compliance, but three earn ‘outstanding’ compliance ratings from FDIC FDIC
[ April 2, 2025 ] Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions FDIC
[ April 2, 2025 ] Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule Other
[ April 1, 2025 ] Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico The Fed
[ April 1, 2025 ] FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing Other

Rule finalized accepting use of electronic communications in hearings; takes effect April 1

January 2, 2024 0

Recognizing the use of electronic communications in all aspects of administrative hearings and increasing the “efficiency and fairness of administrative adjudications” is the aim of a rule finalized last week by the federal financial institution […]

Senate confirms Otsuka to NCUA Board term lasting into 2029

December 21, 2023 0

Tanya Otsuka was confirmed Wednesday to a six-year term on the National Credit Union Administration (NCUA) Board by voice vote of the full Senate. Otsuka, a Democrat, will have an NCUA Board term lasting through […]

Regulators make it clear: no changes necessary to AML/BSA programs in face of BOI rule

December 21, 2023 0

No changes are necessary to Bank Secrecy Act/anti–money laundering (AML/BSA) compliance programs designed to follow the 2016 Customer Due Diligence (CDD) rule because of the Jan. 1 effective date for the new beneficial ownership information […]

Agency updates CECL tool for credit unions, featuring ‘latest life-of-loan,’ other enrichments

December 21, 2023 0

The “latest life-of-loan,” or “Weighted Average Remaining Maturity,” and other enhancements are included in the updated tool to help credit unions comply with accounting rules designed to improve recognition of credit losses on loans and […]

NCUA wants comments on its funding through insurance program by Feb. 20

December 21, 2023 0

Comments are due Feb. 20 on the “overhead transfer rate” (OTR) methodology proposed by the federal credit union regulator at its meeting last month, the agency said Thursday. The OTR is the rate at which […]

Credit union regulator issues technical fix to reporting CECL transition amounts

December 20, 2023 0

A technical correction for calculating and reporting current expected credit loss (CECL) transition amounts on credit union call reports was issued Wednesday by the federal regulator of the cooperatives. “The transition to the CECL methodology […]

Credit unions step up filing of diversity self-assessments in ‘22, doubling tally from ‘21

December 13, 2023 0

Credit unions in 2022 doubled their numbers from the previous year for filing voluntary diversity self-assessments, their federal regulator said Wednesday in releasing a final report on last year’s filings. According to the National Credit […]

9.5% increase for NCUA’s 2024 budget, funding mechanisms up for action next Thursday

December 8, 2023 0

The 2024-2025 budget of credit unions’ federal regulator, its liquidity facility for credit unions, and budgetary funding mechanisms make up the action agenda for the Dec. 14 meeting of the agency’s board. The National Credit […]

Credit unions see rising delinquency rate at end of third quarter, but continue loan, savings, assets growth

December 8, 2023 0

Delinquency rates are up at credit unions as of the end of the third quarter, their federal regulator said late Thursday – while, at the same time, assets, savings and loans all increased, the agency […]

Filing a late credit union call report will spur a fine in 2024, ending COVID-19 era suspension

November 28, 2023 0

Filing a late credit union call report will, once again, prompt a fine from their federal regulator starting Jan. 1, the agency said Tuesday. Civil money penalties (CMP) for credit unions for late Form 5300 […]

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Two banks need improvement in CRA compliance, but three earn ‘outstanding’ compliance ratings from FDIC

April 4, 2025 0

Two banks earned ratings of “needs improvement,” and three others scores of “outstanding” — out of 61 total banks — for their compliance with anti-redlining regulations, the federal bank deposit insurance agency said Friday in releasing its April grades. The [...]
Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions

April 2, 2025 0

Call reports for the first quarter – which contain no new data items – are due from banks in most cases by April 30, the federal banking agencies said Wednesday. However, the agencies advised in a financial institution letter (FIL), [...]
Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule

April 2, 2025 0

Compliance deadlines for certain financial firms to report non-centrally cleared bilateral repurchase (NCCBR) agreement data to the Office of Federal Research (OFR) has been extended under a final rule published Wednesday in the Federal Register. Under the final rule, which [...]
Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico

April 1, 2025 0

An enforcement action that dated back to 2022 against three Irvine, Calif., financial institutions has been terminated by the Federal Reserve, the agency said Tuesday. The Fed said its cease-and-desist actions against Allegiant United Holdings, Nano Financial Holdings, Inc., and [...]
FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing

April 1, 2025 0

Notices providing “red flags” to help financial institutions identify and report potential bulk cash smuggling across the U.S.-Mexico border and financing of ISIS were issued this week by the Financial Crimes Enforcement Network (FinCEN), Treasury’s financial crimes enforcement arm. The [...]
Three state financial institution regulators named to liaison group for Exam Council

April 1, 2025 0

Three state regulators have been named to serve on the liaison council to the umbrella group for federal financial regulators, the group announced Tuesday. The three named to the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council [...]
March disclosure shows 8 banks rated ‘outstanding’ for CRA

April 1, 2025 0

Eighteen banks’ Community Reinvestment Act (CRA) ratings from the national bank regulator became public in March, and of those, eight were ratings of “outstanding” and 10 were “satisfactory,” the agency said. The banks’ CRA evaluation “public disclosure” reports, available on [...]
OCC reverses course on climate-related principles; large banks no longer must follow

March 31, 2025 0

Large financial institutions will no longer have to deal with principles for climate-related financial risk management under a decision issued Monday by the national bank regulator. The Office of the Comptroller of the Currency (OCC) said the principles (adopted in [...]
Bureau follows law, makes 2024 loan level data under HMDA available

March 31, 2025 0

Loan-level information for 2024 filed by banks but edited to protect consumer privacy was released Monday by the federal consumer financial protection agency, as required by law. The data, collected under the Home Mortgage Disclosure Act (HMDA) Modified Loan Application [...]