NCUA – Page 49 – 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 readies final rules on bank purchases, mitigation of CECL impact

June 14, 2021 0

New rules for credit unions governing their purchases of banks and mitigating the impact of the current expected credit loss (CECL) accounting standard are slated for action as soon as this month by the federal […]

NCUA reminds June 26 is last day for low-income CU grant applications

June 9, 2021 0

A reminder of the June 26 due date for applications from low-income-designated credit unions for grants in the Community Development Revolving Loan Fund’s (CDRLF) current round was issued Wednesday by the National Credit Union Administration […]

NCUA Board to consider appeal during closed meeting Thursday

June 8, 2021 0

A meeting of the National Credit Union Administration (NCUA) Board is set Thursday to address a board appeal and will be closed under “exemption (8),” according to the meeting notice. Credit unions are permitted under […]

Letter underscores temporary actions taken to address impact of COVID savings surge at credit unions

June 7, 2021 0

Actions taken by the federal credit union regulator in April – extending temporary provisions giving credit unions some regulatory relief from savings surges during the coronavirus crisis – were reinforced by the agency Friday in […]

Credit unions’ net interest margin continues decline; net income up, delinquencies down

June 4, 2021 0

Federally insured credit unions’ (FICUs) net interest margin showed its steepest quarterly decline in a year in first-quarter 2021 data released Friday by the institutions’ federal regulator. The trend is similar to what the Federal […]

NCUA chair asks Congress for more grant money for low-income credit unions; most 2020 funding focused on COVID-19 challenges

June 1, 2021 0

The Community Development Revolving Loan Fund (CDRLF) was able to fund just about half of the $7.6 million in total requests for technical assistance grants and loans from low-income-designated credit unions last year, according to […]

Alert aims to clarify reach to credit unions of equal credit opportunity rule, high court decision

June 1, 2021 0

Credit unions should ensure their policies, procedures, and training materials promote compliance with federal equal credit opportunity laws and Regulation B, which is administered by the federal consumer financial protection agency, in line with a […]

Derivatives

May 26, 2021 0

Title: Derivatives Subject: Derivatives Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending the NCUA’s Derivatives rule. The Board issued a proposed Derivatives rule at its October 2020 meeting. This final rule […]

NCUA places $3 million NJ credit union into conservatorship

May 24, 2021 0

The $3.04 million-in-assets, 343-member Empire Financial Federal Credit Union of Jackson, N.J., was placed in conservatorship Monday by the National Credit Union Administration (NCUA), the agency announced, citing “unsafe and unsound practices” at the institution. […]

Alert provides credit unions with details behind CFPB QM compliance date delay

May 24, 2021 0

The delay to Oct. 1, 2022, of the mandatory compliance date of the general qualified mortgage (QM) final rule is the subject of a regulatory alert issued by the federal credit union regulator Monday. NCUA […]

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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 [...]