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NCUA Issues letter to CUs on New Reporting Requirements

Oct
29
NCUA Issues letter to CUs on New Reporting Requirements

The National Credit Union Administration (NCUA) issued a letter to credit unions in advance of changes to the 5300 Call Report to replace existing reporting requirements on loan modifications with information on troubled debt restructurings (TDRs) specifically.  Revisions to the Call Report are necessary to implement requirements included in the Board’s May 2012

Posted By Sharon Bahr read more

Bankers Target MBL Again in Senate

Oct
25
Bankers Target MBL Again in Senate

Credit unions are in the final push to pass member business lending legislation in the U.S. Senate and House, and bankers are again targeting U.S. Senate offices to oppose the measure.  U.S. Senate bill S. 2231, the Credit Union Small Business Jobs Bill and U.S. House bill H.R. 1418, the Small Business Lending Enhancement Act, would raise the credit union member business lending limit from 12.25% to 27.5% of assets. 

Posted By Amy McLard read more

CUNA Seeks Comments on NCUA's "Small Entity" Proposal

Oct
24
CUNA Seeks Comments on NCUA's "Small Entity" Proposal

The Credit Union National Association (CUNA) continues to seek comments on the National Credit Union Administration's (NCUA) “small entity” proposal, and has also requested a 30-day extension of the comment period so that credit unions can provide more complete feedback and information.  NCUA’s proposal would amend the agency’s definition of a "small entity," by increasing the asset threshold from $10 million to $30 million.

Posted By Sharon Bahr read more

Matz & NCUA Answer Questions During Agency Webinar

Oct
11
Matz & NCUA Answer Questions During Agency Webinar

National Credit Union Administration (NCUA) Board Chairman Matz and senior NCUA staff held a webinar on Thursday, October 4, 2012,  on the state of the credit union industry and key regulatory issues pending at the agency.

In response to a question regarding low-income designation letters NCUA recently sent to eligible credit unions, staff stated that:

Posted By Sharon Bahr read more

NCUA Legal Opinion Letter to Facilitate Voluntary Mergers

Oct
09
NCUA Legal Opinion Letter to Facilitate Voluntary Mergers

The National Credit Union Administration (NCUA) has discretion under the Federal Credit Union Act (FCUA) to approve a change to a credit union’s charter to facilitate a voluntary merger with another healthy credit union, according to a new legal opinion from NCUA General Counsel Mike McKenna issued last week. 

Posted By Sharon Bahr read more

Mortgage Loan Proposals Pending at Two Agencies

Oct
05
Mortgage Loan Proposals Pending at Two Agencies

There are currently two pending proposals regarding appraisals for certain mortgage loans.  First, a Consumer Financial Protection Bureau (CFPB) proposal would amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) and require creditors to provide free copies of all written appraisals and valuations developed in connection with an application for a loan secured by a first lien on a dwelling.  Currently, federal credit unions are exempt from the appraisal delivery requirements of R

Posted By Sharon Bahr read more

What Will the Departure of Gigi Hyland and Dave Marquis Mean for NCUA and Credit Unions?

Oct
05
What Will the Departure of Gigi Hyland and Dave Marquis Mean for NCUA and Credit Unions?

By:  Bill Cheney, President/CEO of Credit Union National Association

We have gotten this question repeatedly in the last few days. While it is a good and fair inquiry, no one can say for certain whether things will be better or worse with the departure of these NCUA officials, but they will be different.

Posted By Sharon Bahr read more

Maintaining Access to Emergency Liquidity

Oct
02
Maintaining Access to Emergency Liquidity

Another comment letter was filed by the Missouri Credit Union Association (MCUA) and the Credit Union National Association (CUNA) with the National Credit Union Administration (NCUA) regarding proposed changes to emergency liquidity from the Central Liquidity Facility (CLF).

Posted By Sharon Bahr read more

NCUA Proposal On Troubled Condition Designation for State CUs

Oct
01
NCUA Proposal On Troubled Condition Designation for State CUs

The Credit Union National Association (CUNA) feels the National Credit Union Administration's (NCUA) proposal that would allow it to designate a state credit union as a CAMEL 4 or 5, and in “troubled condition”  even if the state regulator does not agree is ill-conceived, unjustified and will not significantly further any material safety and soundness goals. That is what CUNA's letter filed on September 28, 2012 said. 

Posted By Sharon Bahr read more

Review Policies for Re-Ordering Debit Transactions

Sep
28
Review Policies for Re-Ordering Debit Transactions

By: Brad Mundine of CUNA Mutual Group

Posted By Sharon Bahr read more

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