NCUA – Page 98 – Regulatory Report

What's up

[ 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
[ November 21, 2024 ] Ex-CEO of failed Kansas bank prohibited from financial institutions after cryptocurrency scheme The Fed
[ November 18, 2024 ] Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules Other

In Alert, regulator tells credit unions they must accept private flood insurance for applicable loans

May 28, 2019 0

Private flood insurance policies for applicable loans must be accepted by credit unions beginning July 1, the board chairman for the federal regulator of credit unions said Tuesday. In a Regulatory Alert sent to all […]

Agency wants to revise ‘Profile’ with new questions about credit union benefit plans

May 28, 2019 0

Two questions intended to evaluate industry-wide exposure to employer-defined benefit plans will be added to credit union quarterly reports, according to a proposal by the institutions’ federal regulator. In filings Tuesday with the Federal Register, […]

Aids for credit union chartering, identifying low-income areas for service focus of CURE office at NCUA

May 23, 2019 0

The federal agency that charters and regulates federal credit unions says it’s planning to offer more resources for credit unions to identify low-income areas they might serve, and information for those seeking to charter a […]

More public unit and nonmember shares would be OK for credit unions under NCUA proposed rule

May 23, 2019 0

The basis for measuring the regulatory limit on nonmember and public unit shares that federally insured credit unions (FICUs) may hold would change – in many cases increasing the dollar amount that could be held […]

New agency external affairs director tapped by credit union regulator board chair

May 22, 2019 0

Lenwood Brooks is the new director of external affairs for the federal regulator of credit unions, the agency’s board chairman said Wednesday; Brooks joins the agency May 28. In a release, National Credit Union Administration […]

Agency charters first new federal credit union of 2019 (matching 2018 tally)

May 21, 2019 0

The first federal credit union chartered in 2019 is now on the books, according to the federal regulator of the financial cooperatives, with service anticipated to 4,200 members and a variety of small businesses related […]

Credit unions will begin receiving $160 million payout from regulator this week

May 21, 2019 0

More than 5,500 credit unions are beginning to receive statements this week showing their share of a $160 million payout by their federal regulator of excess funds from the federal insurance fund for the cooperative […]

NY regulator names NCUA conservator of Municipal Credit Union

May 20, 2019 0

A state-chartered, federally insured credit union that was taken over by New York regulators Friday is under conservatorship of the National Credit Union Administration (NCUA) and continues to serve members at all of its 22 […]

Agency enters next phase of new ‘proof of concept’ application for new credit unions

May 20, 2019 0

The federal credit union regulator’s “proof of concept” application for chartering new federal credit unions is entering its second phase of review, according to a notice of “information collection” to be published Tuesday in the […]

THIS WEEK: Fed’s Powell talks system risk; FinCEN testifies before Senate Banking; NCUA Board takes up public unit accounts

May 20, 2019 0

Financial system risk, the government’s fight against illicit financing, and low-income-designated credit unions’ ability to accept deposits from public units and nonmembers are the key topics showing up on federal regulators’ schedules for the week […]

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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 [...]
Final rule provides ‘sharper scalpel’ of penalty, enforcement to foreign investment rules

November 18, 2024 0

A final rule aimed at providing a “sharper scalpel” of penalty and enforcement provisions to rules governing foreign investment in the United States was issued Monday by the Treasury Department, the agency said. The rule enhances “certain procedures” of the [...]
More days allowed for commenting on deposit insurance recordkeeping for custodial accounts

November 18, 2024 0

Forty-five more days are now available for commenting on the proposed deposit insurance recordkeeping rule for banks’ third-party (custodial) accounts, the federal insurer of bank deposits said Monday. With the addition of 45 days, the comment period now extends to [...]