Latest developments from the NCUA (National Credit Union Administration), prudential regulator of federal credit unions and savings insurer for members of federal and state credit unions.
Title: Joint Ownership Share Accounts Subject: Joint accounts; share insurance Agency: NCUA Status: Final rule Summary: The NCUA Board (Board) is amending its share insurance regulation governing the requirements for a share account to be […]
Racism and discrimination must not be tolerated, a joint statement released Friday by all federal financial institution regulators stated in the wake of the death of a Minneapolis man during a police apprehension last week. […]
“Abuse of authority and violence against a black man” prompted the chairman of the board for the federal credit union regulator to release a pointed statement Tuesday urging “true inclusion” among regulators, financial institutions and […]
Two individuals were prohibited from service at credit unions or other federally insured financial institutions after being sentenced for financial crimes, and a third agreed to a prohibition order after an investigation revealed a theft. […]
The first credit union failure in 2020 was announced Friday by the federal credit union regulator – and the third federally insured financial institution to fail this year so far – as the agency took […]
Nearly a month after they were finalized, a policy statement on credit losses accounting (under the current expected credit losses, or CECL, accounting standard) and guidance on credit risk review systems are both scheduled to […]
Title: Prompt Corrective Action: Earnings Retention Waivers and Net Worth Restoration Plans Subject: Prompt corrective action; coronavirus response Agency: NCUA Status: Interim final rule Summary: The NCUA Board (Board) is extending two temporary changes to […]
An interim final rule that relieves credit unions of the earnings transfer requirement when they drop from “well capitalized” to “adequately capitalized” status and eases net worth restoration plan documentation for “undercapitalized” credit unions takes […]
The federal credit union regulator is continuing its offsite exam and supervision work as a result of the coronavirus crisis but expects to return to issuing examination reports, according to a second letter to credit […]
Designating military personnel as “low-income” credit union members, announced May 7, requires some changes in how the federal credit union regulator counts those members – but that won’t require federally insured credit unions (FICUs) to […]
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