NCUA – Page 20 – Regulatory Report

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[ February 21, 2025 ] Report: NCUA management agrees to seek improved examiner-in-charge rotation policy compliance NCUA
[ February 21, 2025 ] FDIC updates list of entities seeking brokered deposits ‘primary purpose’ exception FDIC
[ February 20, 2025 ] GAO urges regulators to adopt rules on executive incentive compensation (after 14 years) FDIC
[ February 20, 2025 ] Barr offers seven risks to watch for in financial system, offers insights into his position to step down as supervisor, but remain on Fed Board The Fed
[ February 20, 2025 ] Exam council publishes change to interest-rate risk analysis, says to expect further changes in other areas Other

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 […]

OIG makes 17 recommendations for NCUA contracting rep program

May 18, 2023 0

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 […]

Regulators agree: deposit insurance (maybe through targeted coverage) needs to be updated for all

May 16, 2023 0

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 […]

Regulator reminds of public hearing over big Florida credit union’s membership expansion plans

May 5, 2023 0

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 […]

Firm finds 2 weaknesses in NCUA cybersecurity, recommends actions

May 5, 2023 0

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) […]

Former credit union official barred in April; admitted to embezzling more than $250k

April 28, 2023 0

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 […]

NCUA, PR cooperatives supervisor announce MOU

April 27, 2023 0

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 […]

Agencies issue joint reminder that U.S. dollar LIBOR ends June 30; urges banks, credit unions to ensure they have ready alternatives

April 26, 2023 0

U.S. dollar (USD) London Inter-Bank Offered Rate (LIBOR) panels end June 30, and banks and credit unions are expected to complete their transition of remaining LIBOR contracts as soon as practicable, the federal banking, credit […]

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Report: NCUA management agrees to seek improved examiner-in-charge rotation policy compliance

February 21, 2025 0

A self-initiated audit of the agency’s compliance with its examiner-in-charge rotation policy and procedures found rotation occurred but identified several instances where it did not comply, according to a report by the agency’s inspector general office. The report by the [...]
FDIC updates list of entities seeking brokered deposits ‘primary purpose’ exception

February 21, 2025 0

After a long pause, the federal bank deposit insurer has resumed updating its list of notices of entities seeking a “primary purpose” exception under the agency’s brokered deposits regulation. Specifically, the four firms listed are seeking a primary purpose exception [...]
GAO urges regulators to adopt rules on executive incentive compensation (after 14 years)

February 20, 2025 0

Rules on incentive compensation, which figured into the demise of three large regional banks two years ago, should be finalized, according to a recommendation made by the congressional watchdog and published Thursday. The Government Accountability Office (GAO), in a report, [...]
Barr offers seven risks to watch for in financial system, offers insights into his position to step down as supervisor, but remain on Fed Board

February 20, 2025 0

Seven specific risks ahead for national bank regulators were outlined by the outgoing Federal Reserve’s top supervisor Thursday, as he also outlined his plans ahead. Federal Reserve Board Vice Chair for Supervision Michael Barr said the seven specific risks are: [...]
Exam council publishes change to interest-rate risk analysis, says to expect further changes in other areas

February 20, 2025 0

Changes to the interest-rate risk analysis page of the consolidated financial institution performance report were announced Thursday by the umbrella group for federal regulators. The changes, according to the Federal Financial Institution Examinations Council (FFIEC), are part of a previously [...]
Six prohibition orders issued by national bank regulator, along with agreements with two banks over ‘unsafe, unsound practices’

February 20, 2025 0

Six prohibition orders were issued by the national bank regulator so far in February, the agency said Thursday. Formal agreements were also reached with both Michigan and Connecticut banks, both the result of “unsafe or unsound purposes,” the Office of [...]