NCUA – Page 34 – Regulatory Report

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[ 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
[ January 16, 2025 ] Credit union regulator gives nod to ’25 performance plan NCUA
[ January 15, 2025 ] ‘Modest’ growth in lending reported as year ended; delinquencies still a concern The Fed
[ January 14, 2025 ] Alleging that consumers were cheated out of $2 billion in interest, bureau files lawsuit against 11th largest bank CFPB

Credit unions post solid increases in profitability for 2021 – but larger ones leaving smaller behind

March 7, 2022 0

Credit unions posted solid financial results for 2021 with return on average assets (ROAA) and net worth both exceeding the numbers posted the previous year, the federal credit union regulator said Monday. In releasing fourth-quarter […]

NCUA closes $5 million Empire Financial FCU, first insured credit union closed in 2022

March 4, 2022 0

Empire Financial Federal Credit Union (FCU) of New York, N.Y., a tiny credit union that last reported about $5.12 million in assets and 270 members, on Friday became the first federally insured credit union liquidated […]

Comments due May 2 on proposal raising asset-size threshold for large-credit-union supervision office

March 3, 2022 0

A proposal raising from $10 billion to $15 billion the asset size of certain federally insured credit unions (FICUs) whose supervision is handled by an office assigned to large, complex institutions is out for public […]

Asset Threshold for Determining the Appropriate Supervisory Office

March 3, 2022 0

Title: Asset Threshold for Determining the Appropriate Supervisory Office Subject: ONES supervision Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending its regulations to revise the $10 billion asset threshold used for […]

Agency to end conservatorship of small GA credit union by middle of month

March 2, 2022 0

A $43 million, Georgia credit union will soon be back in the hands of its members after being conserved about two years ago, its federal regulator said Tuesday. Southern Pine Credit Union of Valdosta, Ga., […]

2 NCUA Board members talk innovation before credit union audience

March 1, 2022 0

Fintech and cryptocurrency were among the key topics Tuesday of addresses by two members of the National Credit Union Administration (NCUA) Board before a Washington, D.C., audience of credit union leaders and staff. Speaking before […]

Overdraft fees, consumer compliance remain key priorities, credit union regulator asserts

February 28, 2022 0

Credit unions can expect a review of their overdraft fee programs during examinations this year, their federal regulator’s ultimate intent being to use what’s learned in the reviews for “a more thorough review” next year, […]

Former AR credit union employee barred from future service in insured FIs

February 28, 2022 0

A former Ark City Teachers Credit Union employee who allegedly embezzled some $1.024 million from the Arkansas City, Ark., institution is barred from any future involvement in the affairs of a federally insured depository institution […]

Credit unions to share $560 million distributed from failed ‘corporate’ credit unions in fourth payout by federal regulator

February 28, 2022 0

More than $560 million will be distributed to more than 2,100 credit union shareholders by their federal regulator, the agency said Monday, in capital and dividends from conserved “corporate” credit unions. The distributions are expected […]

Credit unions urged to adopt ‘heightened sense’ of cybersecurity in wake of Russia Ukraine invasion

February 24, 2022 0

Big or small, financial institutions around the U.S. should be on guard for cyberattacks following Russian’s invasion of Ukraine, and allied responses to it, the federal credit regulator said Thursday. Passing along two alerts from […]

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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 [...]