NCUA – Page 18 – Regulatory Report

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[ January 17, 2025 ] Echoing FDIC appointee, Fed withdraws from international regulator group focusing on climate-change policy The Fed
[ January 17, 2025 ] Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic CFPB
[ January 17, 2025 ] Equifax hit with $15 million penalty over poor dispute handling CFPB
[ January 16, 2025 ] Cash App owner Block ordered to pay up to $175 million combined in redress, penalty CFPB
[ January 16, 2025 ] Credit union overdraft, non-sufficient funds fees not offset by reduced fees, lower rates, research finds NCUA

Credit union loans grow, but so do ‘warning signs’ among other key indicators in first quarter

June 8, 2023 0

Credit unions saw healthy growth in loans during the year’s first quarter, but other performance indicators – including net income, provision for loan losses, and delinquencies – showed some warning signs, according to numbers released […]

Increasing use of automated value models (AVMs) for real estate key in agencies’ proposed rule on their use

June 2, 2023 0

The increasing frequency of use of automated valuation models (AVMs) by mortgage lenders in determining the value of property was a key factor for issuing a proposal late Thursday by federal financial institution regulators on […]

Bureau warns digital payment apps not covered by deposit insurance; urges consumers to transfer to insured banks, credit unions

June 1, 2023 0

Billions stored on digital payment apps such as Venmo and PayPal (among others) used by consumers may lack federal savings insurance, the federal consumer financial protection agency warned Thursday; it urged those consumers to transfer […]

Credit union regulator opens comments on charitable donation accounts proposal for war veterans’ groups

June 1, 2023 0

Comments are now being accepted on a proposal to amend the charitable donation accounts section of the federal credit union regulator’s rules to allow donations to war veterans’ groups, the agency said Thursday. The deadline […]

N.D. credit union worker prohibited by federal regulator from further service

May 31, 2023 0

A former worker at a North Dakota credit union is now prohibited from serving in any capacity at a federally supervised financial institution after pleading guilty in 2021 to one count of felony theft, and […]

NCUA OIG: Loan and share account manipulation, BSA violations among reasons for recent small-credit union failures

May 26, 2023 0

The four small federal credit unions liquidated during the period covered by their regulator’s most recent inspector general report to Congress were closed for reasons including loan and share account manipulation, failure to address Bank […]

NCUA staff project 1.25% share insurance fund ratio by June 30

May 25, 2023 0

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 […]

Proposal would qualify veterans organizations for federal credit unions’ charitable giving via CDAs

May 25, 2023 0

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 […]

Credit union board OK’s WI state business-loan rule change

May 22, 2023 0

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 […]

Charitable donation accounts proposal, NCUSIF briefing on NCUA Board meeting agenda

May 19, 2023 0

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 […]

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Echoing FDIC appointee, Fed withdraws from international regulator group focusing on climate-change policy

January 17, 2025 0

Echoing a stance taken by another regulator earlier this week, the Federal Reserve Friday said it has withdrawn from an international group of regulatory agencies focused on climate-change policy. The Fed said that it has withdrawn from the Network of [...]
Honda financing arm to pay $12.8 million in redress, penalty over credit reporting violations during COVID-19 pandemic

January 17, 2025 0

American Honda Finance Corporation was ordered Friday to pay $10.3 million in consumer redress plus a $2.5 million civil money penalty over findings of credit report furnishing inaccuracies and dispute investigation failures during the COVID-19 pandemic, the Consumer Financial Protection [...]
Equifax hit with $15 million penalty over poor dispute handling

January 17, 2025 0

Equifax, one of three nationwide consumer reporting agencies, was ordered Friday to pay a $15 million civil money penalty for failing to conduct proper investigations of consumer disputes. The Consumer Financial Protection Bureau (CFPB) – in a release familiar in [...]
Cash App owner Block ordered to pay up to $175 million combined in redress, penalty

January 16, 2025 0

Up to $120 million in consumer redress plus a $55 million civil money penalty (CMP) must be paid by Block, the owner of peer-to-peer payments app Cash App, under a consent order announced Thursday by the federal consumer financial protection [...]
Credit union overdraft, non-sufficient funds fees not offset by reduced fees, lower rates, research finds

January 16, 2025 0

Credit unions are not offsetting income from overdraft (OD) and non-sufficient funds (NSF) fees through reduced fees for other services or lower interest rates, according to a “research note” issued Thursday by the institutions’ federal regulator. Those results, the agency [...]
Credit union regulator gives nod to ’25 performance plan

January 16, 2025 0

A 2025 performance plan was adopted by the federal credit union regulator’s board Thursday, outlining specific methods and targets about how the agency will measure its performance. The agency board adopted the plan unanimously at its regular monthly meeting. In [...]
‘Modest’ growth in lending reported as year ended; delinquencies still a concern

January 15, 2025 0

Modest growth in lending was reported across Federal Reserve districts in late November and December, tracking what most districts called “moderate” or “modest” economic growth, according to the latest Beige Book released Wednesday by the Federal Reserve. According to the [...]