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.
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 […]
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 […]
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 […]
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 […]
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 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 […]
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 […]
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, 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 […]
A semiannual report covering the period of April 1 through Sept. 30 of this year shows a half-dozen inspector general audits in progress at the National Credit Union Administration (NCUA) and a handful of “significant” […]
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