NCUA – Page 50 – 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

Final derivatives rule approved by credit union regulator, with 3 changes from proposal

May 20, 2021 0

A final rule to modernize and make its derivatives rule for federal credit unions more principles-based was approved on a vote of 3-0 by the National Credit Union Administration (NCUA) Board, which made three changes […]

NCUSIF projected down to 1.22% by June 30, avoiding premium requirement; input sought on how policy is set for fund target level

May 20, 2021 0

Credit unions continue to be spared a federal share insurance premium, for now. The equity ratio of the federal fund that insures savings in credit unions is projected to drop to 1.22% by this June […]

Credit union regulator details legislative requests: Vendor exam authority, insurance fund structure changes

May 19, 2021 0

Giving his agency examination and enforcement authority over third-party vendors and making key changes to the structure of the federal savings insurance fund for credit unions were the top legislative requests made to a House […]

‘True lender’ rule, NCUA vendor authority, CCyB among topics slated for regulatory oversight hearing Wednesday

May 17, 2021 0

Measures that would repeal the “true lender” rule for banks, restore the federal credit union regulator’s short-lived, direct authority over third-party vendors, and set a trigger for the countercyclical capital buffer (CCyB) for banks are […]

Letters ‘encourage’ credit unions to stop using LIBOR as soon as possible

May 17, 2021 0

Stopping the use of LIBOR as a reference rate as soon as possible as a year-end expiration date of the rate looms is encouraged for all federally insured credit unions, their federal regulator said in […]

Financial regulators push AI comments deadline to July 1

May 17, 2021 0

An extension to July 1 for the deadline to comment on how financial institutions use artificial intelligence (AI) in their activities was announced Monday by financial institution regulators. The invitation to comment was provided in […]

Fraud alleged at failed IN newspaper credit union, NCUA report shows

May 14, 2021 0

Allegations of fraud at the failed Indianapolis Newspaper Federal Credit Union, conserved in January and closed March 31, are noted in a report that says the National Credit Union Administration (NCUA) Office of Inspector General […]

Final derivatives rule, insurance fund actions on credit union regulator board’s agenda

May 13, 2021 0

A final rule on investments in derivatives by credit unions, and two items that could have a significant impact on a savings insurance premium for credit unions, are all on the agenda for the board […]

NCUA reg review includes golden parachute/indemnification payments, security program rules, more

May 13, 2021 0

Rules focused on security programs and crime reporting, records preservation, golden parachute and indemnification payments, and more are among those included in the federal credit union regulator’s scheduled 2021 review of one-third of its regulations, […]

Cybersecurity webinar slated May 26 by NCUA, CISA

May 12, 2021 0

The federal regulator of credit unions and a federal agency charged with providing advise on cyber risks and related matters will team up May 26 for a webinar for credit unions on preventing and addressing […]

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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 [...]