NCUA – Page 26 – 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

NCUA issues quarterly update for simplified CECL tool; CECL kicks in for most on Jan. 1

December 22, 2022 0

The Simplified CECL Tool for credit unions – CECL being “current expected credit losses” – has been updated for December 2022 as the effective date for CECL nears for most credit unions. The National Credit […]

Emergency exemption for ‘virtual-only’ FCU membership, board meetings expires Dec. 31

December 20, 2022 0

A COVID-19-related bylaw amendment for authorizing virtual-only membership and board meetings by federal credit unions (FCUs) is set to expire Dec. 31, according to a letter from the institutions’ federal regulator. The bylaw was approved […]

NCUA six-month report shows 2 CU failures cost insurance fund estimated $6.7 million

December 19, 2022 0

The two insured-credit-union failures that occurred from April through September 2022 cost the credit union share insurance fund an estimated $6.7 million, according to the National Credit Union Administration’s (NCUA) Office of Inspector General’s (OIG) […]

Credit union regulator gives green light to budget increase of 6% for 2023

December 15, 2022 0

A 2023 budget of $360.4 million – an increase of more than 6% from the previous year – was approved unanimously by the federal credit union regulator’s board Thursday, which also included an additional 18 […]

Proposal seeks to open door wider for credit unions to partner with fintechs in lending

December 15, 2022 0

Providing additional flexibility for credit unions to use “advanced technologies and opportunities” in lending that is offered through financial technology (fintech) firms is the stated goal of a proposed rule issued Thursday by the federal […]

NCUA conserves tiny credit union in Indiana

December 13, 2022 0

The $8 million-in-assets Richmond City Employees Federal Credit Union, Richmond, Ind., was placed in conservatorship Monday by the federal regulator of credit unions, the agency said in a release. The National Credit Union Administration (NCUA), […]

Credit unions report $1.46 trillion in loans, $1.69 trillion in shares in Q3; assets at $2.15 trillion

December 9, 2022 0

Third-quarter data show that federally insured credit unions (FICUs) grew loans $235 billion (19.2%) to a total of $1.46 trillion, and shares and deposits $89 billion (5.6%) to $1.69 trillion, over the 12-month period ending […]

NCUA budget, ‘financial innovation’ proposal slated Dec. 15

December 9, 2022 0

Action on a proposed 8.1% increase in the agency’s budget for 2023 (and 10% for 2024) and a proposed “financial innovation” rule for credit unions is slated during the Dec. 15 open meeting of the […]

Regulator to remove by year’s end credit unions’ ability to hold membership/director meetings completely virtually

December 7, 2022 0

Federally chartered credit unions will lose the “flexibility” at year’s end to hold their membership and director meetings completely virtually, their regulator told them Wednesday. The National Credit Union Administration (NCUA), in a letter to […]

NCUA makes liquidation-management office independent, moves Ohio credit union supervision to southern region

December 1, 2022 0

The office that carries out the agency’s work related to credit union liquidations, conservatorships, recoveries, and various consulting and training activities is being moved out of the Southern Region and will once again be an […]

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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 [...]