NCUA – Page 50 – 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

First federal credit union chartered in 2021 will serve local Islamic community in NJ

May 5, 2021 0

A new federal credit union chartered late last month in Kendall Park, N.J., to serve a local Islamic community will offer its members non-interest-bearing consumer loans, among other services, the federal credit union regulator announced […]

Harper indicates capitalization of interest, derivatives rules may be nearing readiness for action

April 22, 2021 0

The chairman of the federal credit union regulator on Thursday said staff are “working through” some of the agency’s pending proposals and could, in the near future, have two in particular – on the capitalization […]

NCUA, FDIC to co-host youth account access webinar next Tuesday

April 21, 2021 0

A webinar on account access for younger people will be co-hosted April 27 by the National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corp. (FDIC), according to an announcement Wednesday. The webinar, titled […]

Agency extends temporary provisions giving reg relief to credit unions seeing savings surges during pandemic

April 16, 2021 0

Temporarily reducing the earnings retention requirement for credit unions classified as adequately capitalized, and permitting an undercapitalized credit union to submit a streamlined net worth restoration plan if it becomes undercapitalized predominantly because of share […]

NCUA Board to be briefed on cybersecurity, PCA interim final rule

April 15, 2021 0

The April 22 virtual open meeting of the governing board of the federal credit union regulatory agency will include two briefings but no action items, according to the agenda posted Thursday. The board is set […]

Report details credit union agency’s efforts in hiring people of color, achieving diversity in upper ranks

April 14, 2021 0

Two in five of new hires (42.1%) in 2020 were people of color, and gender diversity among senior executives achieved parity last year for the first time, the federal credit union regulator said Wednesday in […]

Harper names Samuel Schumach deputy director for NCUA external affairs/comms

April 12, 2021 0

Samuel Schumach was named Monday to the post of deputy director for external affairs and communications at the National Credit Union Administration (NCUA). Appointed to that post by agency board Chairman Todd Harper, Schumach previously […]

Request for Information and Comment: Extent to Which Model Risk Management Principles Support Compliance with Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Requirements

April 9, 2021 0

Title: Request for Information and Comment: Extent to Which Model Risk Management Principles Support Compliance with Bank Secrecy Act/Anti-Money Laundering and Office of Foreign Assets Control Requirements Subject: BSA/AML, OFAC compliance Agency: FDIC, Federal Reserve, […]

Agencies invite feedback on principles in BSA/AML risk management guidance

April 9, 2021 0

Feedback on how much the principles in the 2017 interagency “Supervisory Guidance on Model Risk Management” support compliance by banks and credit unions with Bank Secrecy Act/anti-money laundering (BSA/AML) and Office of Foreign Assets Control […]

NCUA has $1.5 million for grants to low-income credit unions in 2021 focused on digital/cyber efforts, MDIs, underserved

April 6, 2021 0

Approximately $1.5 million in awards to support digital services and cybersecurity, mentoring of small minority depository institution (MDI) credit unions, and service to underserved communities will be available to low-income-designated credit unions during 2021, the […]

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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 [...]