Latest developments from the NCUA (National Credit Union Administration), prudential regulator of federal credit unions and savings insurer for members of federal and state credit unions.
The federal fund that insures credit union members’ shares (deposits) is expected to dip to 1.25% by June 30, down from the fund’s 1.3% ratio at year-end 2022, according to information released Thursday by the […]
Federal credit unions would be authorized to contribute to qualified war veterans organizations through the use of charitable donation accounts (CDAs) under proposed rule issued Thursday by the National Credit Union Administration (NCUA) Board. The […]
An amendment made to the member business loan rule issued by the state of Wisconsin was deemed acceptable for federally insured credit unions last week by the National Credit Union Administration (NCUA) Board. The board […]
The three-member governing board of the federal agency that regulates credit unions is poised to issue a proposed rule on charitable donation accounts during its open meeting May 25. A bit of background: Charitable donation […]
There are 17 recommendations for improvements for the federal credit union regulator’s contracting officer’s representative program (COR) in an inspector general’s report dated Tuesday. The report by the National Credit Union Administration’s (NCUA) Office of […]
Deposit insurance coverage, in the wake of recent failures of three large regional banks, was a common theme among federal financial regulators as they testified before a House committee Tuesday. In testimony before the House […]
A reminder of a public hearing June 7 about a Florida credit union’s quest to expand its community charter was issued by its federal regulator Friday, noting that only eight presentations will be allowed at […]
A recent cybersecurity audit for the federal credit union regulatory agency concludes that the agency needs to enhance its account recertification process for privileged users and to strengthen its Security Information and Event Management (SIEM) […]
A former president and CEO of Skyline Financial Federal Credit Union, Waterbury, Conn., who reportedly pleaded guilty in December to embezzling more than $250,000 from the credit union has been barred permanently from any future […]
The federal regulator of credit unions said it signed a memorandum of understanding (MOU) Wednesday with Puerto Rico’s financial institutions supervisor describing how the two plan to cooperate in areas of staff training, supervision and […]
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