NCUA – Page 26 – 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

Rising interest rates taking toll on credit unions, report finds, with more posting lower exam ratings

November 17, 2022 0

The number of credit unions with lower exam ratings increased in the third quarter, which federal supervisors attributed to the rising interest-rate environment, the federal credit union regulator said Thursday. A report presented to the […]

NCUA closes two more FCUs following brief conservatorships, making six closures in 2022

November 15, 2022 0

The federal agency that regulates credit unions on Tuesday closed two small West Virginia credit unions following about a five-week conservatorship for each. The National Credit Union Administration (NCUA) said it liquidated O.F. Toalston Federal […]

Regulators talk crypto, capital, climate change, bank mergers and more at Senate hearing

November 15, 2022 0

Crypto and stablecoins, capital requirements, climate change, bank mergers and more were among the topics that federal financial institution regulators touched on during testimony Tuesday before the Senate Banking Committee. In presenting their testimony for […]

Share insurance fund report slated Thursday for NCUA Board

November 14, 2022 0

How close the National Credit Union Share Insurance Fund (NCUSIF) is to achieving a staff-projected, year-end equity ratio of 1.3% may be revealed Thursday during the National Credit Union Administration (NCUA) Board open meeting, which […]

New federal credit union will serve Episcopal diocese in NY, is third chartered in 2022

November 10, 2022 0

A new federally chartered credit union – New York Episcopal Federal Credit Union in the Bronx, N.Y. – is set to begin operations in early 2023, the National Credit Union Administration (NCUA) said Thursday. The […]

Credit unions need to up their game on diversity, equity and inclusion, agency chairman says

November 2, 2022 0

Noting “concerning” differences in credit unions’ lending to minority members, the board chairman of the federal credit union regulatory agency on Wednesday said credit unions can “and must” do better as an industry. “The differences […]

NCUA notes increase, to 240, in number of credit unions that participated in voluntary diversity self-assessment in 2021

November 1, 2022 0

A small uptick in the percentage of credit unions reporting a leadership and organizational commitment to diversity was one of the results reported Tuesday from the 2021 Credit Union Diversity Self-Assessment (CUDSA) Results Report, which […]

NCUA earns ‘level 4’ rating in latest info security performance audit

October 28, 2022 0

The federal regulator of credit unions earned just shy of the top “maturity” level rating for its information security program for the fiscal year ending Sept. 30, 2022 – and received four recommendations for strengthening […]

Credit union regulator sets board meeting schedule for 2023 with 11 gatherings (again)

October 26, 2022 0

Eleven meetings of the federal credit union regulator’s board is set for 2023 – similar to past, recent years – with monthly meetings set for all months but August, the agency said Wednesday. The National […]

Liquidity facility for credit unions had $1.24 billion in assets Sept. 30

October 20, 2022 0

The facility created by Congress to serve as a source of liquidity for credit unions experiencing unusual or unexpected liquidity shortfalls ended the third quarter with total assets of 1.243 billion, the federal credit union […]

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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 [...]