NCUA – Page 51 – 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

Webinar looks at eligibility among credit unions for use of $13.5 million CDFI Fund

May 12, 2021 0

The small-dollar loan program related to credit unions of the Treasury’s Community Development Financial Institution (CDFI) Fund is the subject of a webinar planned for May 27 by the CDFI and the federal credit union […]

Emergency Capital Investment Program app period extended to July 6; webinar slated May 24

May 11, 2021 0

The federal credit union regulator on Tuesday encouraged credit unions to participate in an upcoming “Ask the Regulators” webinar on the Treasury Emergency Capital Investment Program (ECIP), which has extended its application period to July […]

Does federal share insurance apply to a share certificate purchased by an LLC? It depends, NCUA writes

May 11, 2021 0

Whether share insurance applies to a credit union share certificate purchased by a limited liability corporation (LLC) depends in part on who owns the funds and whether the LLC is engaged in an “independent activity” […]

Former CU employee in WA barred from working in FIs

May 10, 2021 0

A former employee of Alaska Air Group Federal Credit Union (SeaTac, Wash.) is barred from any future involvement in federally insured depository institutions under an order announced Monday by the federal credit union regulatory agency. […]

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 […]

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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 [...]