NCUA – Page 37 – Regulatory Report

What's up

[ November 25, 2024 ] Funding risk vulnerabilities remain ‘notable’ among banks, with some MMFs susceptible to runs, report contends The Fed
[ November 25, 2024 ] Prices for Reserve Banks’ ‘mature’ priced services up an average 2.8% for 2025, Fed says The Fed
[ November 21, 2024 ] Bureau finalizes rule extending supervision over digital payment wallet apps CFPB
[ November 21, 2024 ] Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted NCUA
[ November 21, 2024 ] CFPB publishes adjustments to thresholds under TILA, FCRA CFPB

COVID-related reg relief measures for credit unions extended through 2022

December 21, 2021 0

A temporary final rule providing pandemic-related regulatory relief under rules on loan participations, eligible obligations, and occupancy requirements for certain properties has been extended until Dec. 31, 2022, by notation vote of the National Credit […]

NCUA operating budget up 1.8% for 2022, totaling $320.1 million; $15 million credit will serve to reduce op fees due

December 17, 2021 0

The operating budget of the National Credit Union Administration (NCUA) is rising to a total of $320.138 million, up 1.8% from the approved 2021 budget of $314.5 million, as a result of action Thursday by […]

Credit union federal share insurance fund target drops 5bp as of Jan. 1

December 17, 2021 0

The “normal operating level” (NOL) – or target equity ratio – for the federal fund that insures depositors’ money in credit unions will drop five basis points, from 1.38% to 1.33%, as of Jan. 1 […]

Final rules on mortgage servicing assets, CCULR, subordinated debt approved 3-0 by credit union regulator

December 17, 2021 0

Three final rules were approved Thursday, by unanimous votes, to authorize federal credit unions’ (FCUs) purchase of mortgage servicing assets (MSAs) from other insured credit unions, create a complex credit union liquidity ratio (CCULR) framework, […]

NCUA issues guidelines for FICUs working with third-party providers of digital asset services

December 16, 2021 0

A set of guidelines aimed at clarifying federally insured credit unions’ (FICUs) authority to establish relationships with third-party providers that offer digital asset services to their members – along with key safety and soundness considerations […]

Credit union regulator encourages CUs’ use of cybersecurity self-testing app

December 15, 2021 0

An application released in October to facilitate credit unions’ self-testing of their cybersecurity preparedness costs nothing and can be downloaded via the agency’s website, the agency said in a letter Wednesday to insured credit unions. […]

Credit union agency sets Jan. 24 deadline for strategic plan comments

December 15, 2021 0

Comments are due Jan. 24 on the 2022-26 strategic plan for the federal credit union regulator, the agency said Wednesday. The National Credit Union Administration (NCUA) said it is specifically looking for comments on the […]

OIG finds NCUA’s COVID-19 work posture took into account expert guidance, reliable info

December 13, 2021 0

A self-initiated inspector general review of the federal credit union regulator’s work posture during the COVID-19 pandemic shows the agency “took actions designed to protect the health and safety of staff in response to COVID-19 […]

New top exam executive named at credit union regulator, replacing retiring director

December 13, 2021 0

Kelly Lay is the new top examination executive for the federal credit union regulator, the agency announced Monday, replacing the retiring top staffer at the start of the year. The National Credit Union Administration said […]

Agency budget, final rule on servicing rights up for NCUA Board action; NCUSIF normal op level, CCULR also slated

December 9, 2021 0

The federal credit union regulatory agency’s 2022 budget and a final rule on mortgage servicing rights are two of five items slated for consideration by the agency’s board during its open meeting next week. Also […]

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Funding risk vulnerabilities remain ‘notable’ among banks, with some MMFs susceptible to runs, report contends

November 25, 2024 0

Vulnerabilities from funding risks remain “notable” for the nation’s banks and other institutions, according to a report issued Friday (Nov. 22), with such vehicles as money-market funds (MMFs) and other cash-management vehicles “remaining susceptible to runs owing to structural vulnerabilities.” [...]
Prices for Reserve Banks’ ‘mature’ priced services up an average 2.8% for 2025, Fed says

November 25, 2024 0

Fees for established, mature priced services the Federal Reserve Banks provide to banks and credit unions are rising on average by an estimated 2.8% beginning Jan. 1, excluding FedNow and Fedwire securities priced services, the central bank said Friday. The [...]
Bureau finalizes rule extending supervision over digital payment wallet apps

November 21, 2024 0

Digital payment wallet apps handling more than 50 million transactions annually are subject to a final rule requiring them to follow federal law applied to banks, credit unions and other financial institutions already supervised by the federal consumer financial protection [...]
Number of credit unions with low exam ratings rose in third quarter; strain on balance sheets, consumers, noted

November 21, 2024 0

The number of the lowest-rated credit unions based on their exam scores rose in the third quarter, their federal regulator said Thursday, reflecting strains on balance sheets and their consumer members, according to the agency. That total includes nine troubled [...]
CFPB publishes adjustments to thresholds under TILA, FCRA

November 21, 2024 0

Two adjustments to thresholds under lending disclosure and credit reporting rules were announced Thursday by the federal consumer financial protection agency. The Consumer Financial Protection Bureau (CFPB) said the first threshold adjustment resulted from a final rule it issued amending [...]
Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme

November 21, 2024 0

The former CEO of a Kansas bank that failed after the embezzlement of $47.1 million in a cryptocurrency scheme has been prohibited permanently from serving at another federally insured financial institution, the Federal Reserve said Thursday. Shan Hanes, 53, of [...]