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CU Leaders Testify on Exam Fairness

Feb
02

On February 1, Ken Watts, President and CEO of the West Virginia Credit Union League, testified on behalf of CUNA before the House Financial Institutions Subcommittee on H.R. 3461, the Financial Institutions Examination Fairness and Reform Act. NCUA Executive Director Dave Marquis and JetStream Federal Credit Union CEO Jeanne Kucey also testified, along with representatives from the Federal banking regulators and other banking trade associations.

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NCUA Board Meeting Summary

Jan
27

 

The National Credit Union Administration (NCUA) Board issued a proposal on troubled debt restructurings (TDRs) and loan modifications, adopted a final rule on interest rate risk (IRR) and released an advance notice of proposed rulemaking on derivatives during its meeting on January 26.

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Update on NCUA's Loan Participation Proposal

Jan
18

A proposal was issued for comments at the National Credit Union Administration's (NCUA's) board meeting in December that would impose concentration limits on credit unions purchasing loan participations.

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GAO Report Issued Early

Jan
09

 

A report from the U.S. Government Accountability Office (GAO) on corporate credit unions and how the National Credit Union Administration (NCUA) addressed the crisis was issued two days ahead of schedule on January 4.  Titled, “Earlier Actions Are Needed to Better Address Troubled Credit Unions,” the report examines the collapse of several corporate credit unions and the NCUA’s response.

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Proposed NCUA CLF Changes: Credit Union Input Requested

Jan
09

The National Credit Union Administration (NCUA) is preparing to unveil several significant changes to the Central Liquidity Facility (CLF).  These changes will have an impact on both natural person and corporate credit unions.    

NCUA will issue FAQs later this month that describe the changes contemplated for CLF, as a result of the demise of US Central.

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NCUA Proposed Rule to Amend its RegFlex Program

Jan
07

Although it is the CFPB that has over 15 proposals and interim finals rules currently out for comment, we wanted to make sure you are also aware of the NCUA's RegFlex proposal. At its December meeting, the NCUA Board approved a proposed rule that would effectively eliminate the agency's Regulatory Flexibility program.

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Emergency Liquidity Subject of NCUA Request for Comments

Dec
22

The National Credit Union Administration Board (NCUA) has issued an advance notice of proposed rulemaking (ANPR) regarding how credit unions should maintain access to emergency liquidity.  Specifically, NCUA is seeking comments on the scope and requirements of a potential new regulation to require all federally-insured credit unions to have access to backup federal liquidity sources in times of financial

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NCUA Proposed Rule on Loan Participation

Dec
19

The NCUA Board issued a proposed rule on loan participations, a separate proposal on RegFlex, an Advance Notice of Proposed Rulemaking on emergency liquidity and adopted final technical changes to its corporate credit union rule during its December 15 board meeting. The Board also addressed other issues, including approval of its 2011-2014 Strategic Plan, its 2012 annual performance budget, and an update on the National Credit Union Share Insurance Fund. For a complete summary, click here.

Posted By Halley Hayden read more
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NCUA Virtual Town Hall

Nov
14

 

NCUA staff held a virtual town hall meeting last week to provide an update on the agency’s activities and answer questions from participants.

Here are a few highlights from the webinar:

  • NCUA budget: The Board will approve the 2012 budget on November 17, which is expected to be a “single digit increase.” Chairman Matz stated that NCUA’s recent budget increases, which allow the agency to utilize a 12-month exam cycle and examine all credit unions of at least $250 million, likely saved federally insured credit unions $1.5 billion.

Posted By Halley Hayden read more

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