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Standards for Assessing Credit Unions' Diversity Policies & Practices

Nov
18

As reported previously, National Credit Union Administration (NCUA), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Fed, Office of the Comptroller of the Currency (OCC), and Securities Exchange Commission (SEC) have proposed joint standards for assessing the diversity policies and practices of the entities they regulate.

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NCUA Board Approves Final Rule on Emergency Liquidity

Nov
02
NCUA Board Approves Final Rule on Emergency Liquidity

On October 24, 2013, the National Credit Union Administration (NCUA) convened its ninth scheduled open meeting of 2013 at the agency's headquarters. The Board unanimously approved three items:

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MCUA Supports Proposed Exemptions from Appraisal Requirements for HPMLs

Sep
09
MCUA Supports Proposed Exemptions from Appraisal Requirements for HPMLs

On Monday, Sept. 9, 2013, the Missouri Credit Union Association (MCUA) filed a comment letter on a joint proposal that would provide additional exemptions from the appraisal requirements for “Higher-Priced Mortgage Loans” (HPMLs) under Regulation Z.

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MCUA Does Not Agree with NCUA That New Rule on Electronic Filing is Needed

Sep
03
MCUA Does Not Agree with NCUA That New Rule on Electronic Filing is Needed

Rather than moving ahead with a proposal to require electronic filing by all credit unions, the National Credit Union Administration (NCUA) should instead encourage these credit unions to move toward electronic filing in a reasonable time, with a new rule, the Missouri Credit Union Association (MCUA) said in a

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MCUA Sends NCUA Regulatory Review Comment Letter

Aug
06
MCUA Sends NCUA Regulatory Review Comment Letter

The Missouri Credit Union Association (MCUA) sent the National Credit Union Administration (NCUA) a comment letter on Aug. 5, 2013 detailing changes to regulations that NCUA has under review for 2013. NCUA annually reviews one-third of the agency’s regulations, resulting in all of the agency’s regulations being reviewed every three years.

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Court Dismisses MBS Counts Against Goldman Sachs & Co.

Mar
19
Court Dismisses MBS Counts Against Goldman Sachs & Co.

The U.S. District Court for the Central District of California on Thursday, March 14, 2013, tentatively dismissed seven of the National Credit Union Administration's (NCUA) eight claims against Goldman Sachs & Co. related to the sales of mortgage-backed securities to corporate credit unions because they were not filed prior to the expiration of the statute of limitations.

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NCUA Report on Understanding the Risks of Private Student Loans

Mar
19
NCUA Report on Understanding the Risks of Private Student Loans

The National Credit Union Administration (NCUA) reported on risks from private student loans in the March edition of The NCUA REPORT. Student loan debt surpassed $1 trillion in 2012 with 15% coming from private student loans according the NCUA quoting Consumer Financial Protection Bureau (CFPB) statistics. Total delinquency nationwide is 5.4% but only 1.46% for credit unions.

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CUNA Focus on Regulatory Relief at NCUA Chairman Meeting

Mar
18
CUNA Focus on Regulatory Relief at NCUA Chairman Meeting

The Credit Union National Association (CUNA) Executive Committee met with National Credit Union Administration (NCUA) Board Chairman Debbie Matz to discuss matters of concern for credit unions on March 12. Items discussed include NCUA’s efforts to update Prompt Corrective Action (PCA), focusing on risk-based requirements.

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NCUA Updates - 3/11/13

Mar
12
NCUA Updates - 3/11/13

Here are two National Credit Union Administration (NCUA) updates:

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Treasury Inflation Protected Securities (TIPS)

Mar
11

The National Credit Union Administration Board (NCUA) adopted a final rule that amends its investments rule to allow federal credit unions (FCU) to purchase Treasury Inflation Protected Securities (TIPS). Prior to this amendment to §703.14(a), NCUA did not permit FCUs to purchase TIPS. TIPS can be used to help FCUs manage inflation risks.

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