NCUA – Page 27 – 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 regulator adopts enterprise risk appetite statement

October 20, 2022 0

The governing board of the federal agency that regulates credit unions on Thursday adopted a new enterprise risk appetite statement that provides agency management and staff guidance on how much risk the agency is willing […]

Credit union regulator updates cybersecurity tools, with slimmed-down requirements

October 18, 2022 0

Updates to a cybersecurity evaluation tool for credit unions was released Tuesday by their federal regulator, the agency said. The National Credit Union Administration (NCUA) said the update to its Automated Cybersecurity Evaluation Toolbox (ACET) […]

Today marks resumption of on-site examination, supervision by NCUA

October 17, 2022 0

With “phase 3” of its phased approach to returning to onsite operations following the a lengthy period of distancing amid the COVID-19 pandemic, the National Credit Union Administration (NCUA) is expected today to resume onsite […]

NCUA sets Wednesday briefing on proposed 2023-2024 budget; agency board meets Thursday

October 14, 2022 0

A public briefing on the federal regulator’s proposed 2023-2024 budget, which shows plans for increases of 8.1% and 10% over the next two years, is slated for 10 a.m. next Wednesday at agency headquarters in […]

2 WV credit unions conserved by NCUA, which cited ‘unsafe and unsound practices’

October 7, 2022 0

Two federal credit unions – one serving employees of an electric power company, the other serving schools, colleges and universities – were placed in conservatorship Friday by the National Credit Union Administration (NCUA) because of […]

Proposal benefiting low-income credit unions in Treasury emergency capital program out for comment until Dec. 5

October 5, 2022 0

A proposed subordinated debt rule change intended to benefit eligible low-income credit unions (LICUs) that are participating in Treasury’s Emergency Capital Investment Program (ECIP) or other federal programs is out for comment until Dec. 5, […]

Subordinated Debt

October 5, 2022 0

Title: Subordinated debt Subject: Maturities, regulatory capital Agency: NCUA Status: Proposed rule Summary: The NCUA Board (Board) is proposing to amend the Subordinated Debt rule (the Current Rule), which the Board finalized in December 2020 […]

Comments due Dec. 2 on credit union member expulsion proposal

October 3, 2022 0

A proposal to create a policy for federal credit union (FCU) member expulsion, aimed at least in part at addressing members who may be a threat to others, is out for comment until Dec. 2, […]

Federal Credit Union Bylaws

October 3, 2022 0

Title: Federal Credit Union Bylaws Subject: Member expulsion Agency: NCUA Status: Proposed rule Summary: On March 15, 2022, Congress enacted the Credit Union Governance Modernization Act of 2022 (Governance Modernization Act). Under the statute, the […]

Former PA credit union exec barred from future FI service

August 31, 2022 0

A former chief executive officer of PNG Northern Federal Credit Union of Vandergrift, Pa., has been barred from future service in any federally insured financial institution over findings of check kiting and related activity that […]

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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 [...]