NCUA – Page 38 – Regulatory Report

What's up

[ 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
[ January 14, 2025 ] 3 former Wells execs fined a combined $18.5M in penalties; concludes action begun in 2020 OCC
[ January 14, 2025 ] Federal, state bank, credit union regulators issue joint statement on supervisory impact of California wildfires FDIC
[ January 14, 2025 ] Gruenberg, on way out door, raises red flag about non-bank activities, expecting increased financial stability risk FDIC

Credit union regulator merges struggling CA CU, liquidates another, in late/early year actions

January 3, 2022 0

A California credit union serving postal workers, and operating under federal agency conservatorship since November, has been merged into another credit union in the state, it was announced Monday. The National Credit Union Administration (NCUA) […]

Three credit union rules published – on leverage ratio, mortgage servicing purchases, subordinated debt – formally completing rulemaking

December 23, 2021 0

Three final rules were published Thursday – on a new capital leverage ratio, mortgage servicing assets, and treatment of subordinated debt – by the federal credit union regulator, with effective dates of Jan. 1, April […]

Indianapolis’ Newspaper credit union failed due to fraud by a small CU staff, possibly board chair, NCUA OIG finds

December 22, 2021 0

A material loss review of the $2.29 million estimated share insurance fund loss due to the failure of Indianapolis’ Newspaper Federal Credit Union earlier this year showed the institution failed due to fraud involving a […]

Newly chartered, low-income federal credit union will serve Eatonville, FL

December 21, 2021 0

The federal regulator of credit unions has approved its fourth new federal credit union (FCU) charter for the year to facilitate services for the community of Eatonville, Fla., according to an agency announcement Tuesday. Named […]

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. […]

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‘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 [...]
Alleging that consumers were cheated out of $2 billion in interest, bureau files lawsuit against 11th largest bank

January 14, 2025 0

Millions of consumers were allegedly cheated out of more than $2 billion in interest by one of the largest banks in the nation, according to a lawsuit made public Tuesday by the federal consumer financial protection agency. The lawsuit filed [...]
3 former Wells execs fined a combined $18.5M in penalties; concludes action begun in 2020

January 14, 2025 0

The national bank regulator on Tuesday ordered three former Wells Fargo, N.A., executives to pay a combined $18.5 million in civil money penalties (CMPs) for sales practices misconduct, concluding action initiated in 2020 against 11 individuals in a case stemming [...]
Federal, state bank, credit union regulators issue joint statement on supervisory impact of California wildfires

January 14, 2025 0

A statement on supervisory practices affecting banks and credit unions in areas of California ravaged by wildfires was issued Tuesday by federal banking and credit union regulators, along with the California financial institution supervisor. The statement, affecting national and state [...]
Gruenberg, on way out door, raises red flag about non-bank activities, expecting increased financial stability risk

January 14, 2025 0

The proliferation of activities of non-bank financial institutions – including their risk to financial stability – are of particular concern to the outgoing board chairman of the bank deposit insurance agency, he said in remarks Tuesday. Martin J. Gruenberg, who [...]