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.
Feb. 23 is the public comment deadline on a proposed rule to permit more flexibility for credit unions to use “advanced technologies and opportunities” in lending that is offered through financial technology (fintech) firms, according […]
Title: Financial Innovation: Loan Participations, Eligible Obligations, and Notes of Liquidating Credit Unions Subject: Fintech; indirect lending, eligible obligations Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending the NCUA’s regulations regarding […]
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 […]
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 […]
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) […]
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 […]
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 […]
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), […]
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 […]
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 […]
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