NCUA – Page 76 – Regulatory Report

What's up

[ April 4, 2025 ] Two banks need improvement in CRA compliance, but three earn ‘outstanding’ compliance ratings from FDIC FDIC
[ April 2, 2025 ] Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions FDIC
[ April 2, 2025 ] Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule Other
[ April 1, 2025 ] Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico The Fed
[ April 1, 2025 ] FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing Other

Elder financial abuse, aggravated by pandemic, focus for webinar

June 8, 2020 0

An update on the impact of elder financial exploitation and scams related to the coronavirus (COVID-19) crisis will be explored in a Thursday (June 11) webinar hosted by the federal credit union regulator and featuring […]

Comments due July 6 on NCUA proposal on joint ownership share accounts

June 5, 2020 0

A proposal allowing account records information other than a signature card to support the insured status of a joint ownership share account in a credit union was published in the Federal Register Friday with a […]

Joint Ownership Share Accounts

June 5, 2020 0

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 […]

Regulators’ group jointly decries racism, discrimination; vows commitment to financial inclusion

June 5, 2020 0

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. […]

Credit union regulator speaks out on George Floyd death, calls for ‘true inclusion’ among financials

June 2, 2020 0

“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 […]

Credit union regulator slaps three with prohibitions

June 1, 2020 0

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. […]

First credit union of 2020 fails; third of year (so far) for federally insured financial institutions

June 1, 2020 0

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 […]

After almost a month, interagency policy statement on credit losses accounting (CECL), guidance on credit risk review systems, available Monday

May 29, 2020 0

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 […]

Temporary Regulatory Relief in Response to COVID-19 – Prompt Corrective Action

May 28, 2020 0

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 […]

Temporary PCA rule changes in effect now for credit unions; comments due June 29

May 28, 2020 0

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 […]

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Two banks need improvement in CRA compliance, but three earn ‘outstanding’ compliance ratings from FDIC

April 4, 2025 0

Two banks earned ratings of “needs improvement,” and three others scores of “outstanding” — out of 61 total banks — for their compliance with anti-redlining regulations, the federal bank deposit insurance agency said Friday in releasing its April grades. The [...]
Call reports for first quarter due by month’s end; agencies prepare multi-factor ID for future submissions

April 2, 2025 0

Call reports for the first quarter – which contain no new data items – are due from banks in most cases by April 30, the federal banking agencies said Wednesday. However, the agencies advised in a financial institution letter (FIL), [...]
Some non-centrally cleared bilateral repo data reporters get more time to comply with OFR rule

April 2, 2025 0

Compliance deadlines for certain financial firms to report non-centrally cleared bilateral repurchase (NCCBR) agreement data to the Office of Federal Research (OFR) has been extended under a final rule published Wednesday in the Federal Register. Under the final rule, which [...]
Fed terminates enforcement actions against California firms; prohibits one in Puerto Rico

April 1, 2025 0

An enforcement action that dated back to 2022 against three Irvine, Calif., financial institutions has been terminated by the Federal Reserve, the agency said Tuesday. The Fed said its cease-and-desist actions against Allegiant United Holdings, Nano Financial Holdings, Inc., and [...]
FinCEN issuances focus on bulk cash smuggling into, out of Mexico; ISIS financing

April 1, 2025 0

Notices providing “red flags” to help financial institutions identify and report potential bulk cash smuggling across the U.S.-Mexico border and financing of ISIS were issued this week by the Financial Crimes Enforcement Network (FinCEN), Treasury’s financial crimes enforcement arm. The [...]
Three state financial institution regulators named to liaison group for Exam Council

April 1, 2025 0

Three state regulators have been named to serve on the liaison council to the umbrella group for federal financial regulators, the group announced Tuesday. The three named to the State Liaison Committee (SLC) of the Federal Financial Institutions Examination Council [...]
March disclosure shows 8 banks rated ‘outstanding’ for CRA

April 1, 2025 0

Eighteen banks’ Community Reinvestment Act (CRA) ratings from the national bank regulator became public in March, and of those, eight were ratings of “outstanding” and 10 were “satisfactory,” the agency said. The banks’ CRA evaluation “public disclosure” reports, available on [...]
OCC reverses course on climate-related principles; large banks no longer must follow

March 31, 2025 0

Large financial institutions will no longer have to deal with principles for climate-related financial risk management under a decision issued Monday by the national bank regulator. The Office of the Comptroller of the Currency (OCC) said the principles (adopted in [...]
Bureau follows law, makes 2024 loan level data under HMDA available

March 31, 2025 0

Loan-level information for 2024 filed by banks but edited to protect consumer privacy was released Monday by the federal consumer financial protection agency, as required by law. The data, collected under the Home Mortgage Disclosure Act (HMDA) Modified Loan Application [...]