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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. 

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Review Policies for Re-Ordering Debit Transactions

Sep
28
Review Policies for Re-Ordering Debit Transactions

By: Brad Mundine of CUNA Mutual Group

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Impact of Dodd-Frank on Safety and the Soundness of MBLs

Sep
17
Impact of Dodd-Frank on Safety and the Soundness of MBLs

The Government Accountability Office (GAO) issued a report on September 13, 2012, on the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act on Credit Unions and Community Banks. The report basically concludes that it is too early to tell what the total impact of the Act’s provisions on credit unions and community banks will be.

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Report on NCUA's Exam & Complaint Process

Sep
17
Report on NCUA's Exam & Complaint Process

The Office of Inspector General (OIG) at the National Credit Union Administration (NCUA) has issued a report on the agency’s examination and complaint processes.

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Leagues & CUNA Seek Clarification on Low Income, State-Charted Credit Unions

Aug
24
Leagues & CUNA Seek Clarification on Low Income, State-Charted Credit Unions

The Missouri Credit Union League, with Credit Union National Association (CUNA) and other member leagues, are working to obtain further clarifications on the designation of low income state-chartered credit unions. The National Credit Union Administration (NCUA) recently alerted about 1,000 federal credit unions on their eligibility for the low-income credit union designation.

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Joint Agencies Propose Rule on Appraisal Requirements for "Higher-Risk" Mortgage Loans

Aug
20
Joint Agencies Propose Rule on Appraisal Requirements for "Higher-Risk" Mortgage Loans

On the same day as the Consumer Financial Protection Bureau (CFPB) proposed its own rule on appraisals and valuations discussed above, the joint federal banking regulators, including National Credit Union Administration (NCUA) and the CFPB, proposed a separate rule concerning the appraisal requirements relating to “higher-risk” mortgage loans.  General comments on this rule are also due on October 15, 2012, and this rule is also required to be finalized by the agencies by January 21, 2013. 

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NCUA Issues Legal Opinion Letter on MFL

Aug
20
NCUA Issues Legal Opinion Letter on MFL

National Credit Union Administration (NCUA) has issued a legal opinion letter (11-0620) again addressing multi-featured lending plans (MFL).  The letter reinforces earlier guidance from NCUA issued to federal credit unions in NCUA Letter (12-FCU-02, July 20, 2012). The legal opinion provides:

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CUNA Presses NCUA for More Regulatory Relief

Aug
10
CUNA Presses NCUA for More Regulatory Relief

Last Friday, CUNA President/CEO BIll Cheney sent a letter to the NCUA Board regarding a number of issues on which he believes the agency should provide regulatory relief to credit unions. Click here for a copy of the letter.

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NCUA Letter to FCUs in the Works on Low-Income Designation

Aug
06
NCUA Letter to FCUs in the Works on Low-Income Designation

The National Credit Union Administration (NCUA) will soon be sending letters to nearly 1,000 credit unions indicating they are eligible for low-income designation, a status whose benefits include the ability to accept supplemental capital and an exemption from the small business lending cap under certain circumstances, NCUA Chairman Debbie Matz told league presidents attending the Americ

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NCUA Holds Final Listening Session

Aug
06
NCUA Holds Final Listening Session

Chairman Matz addressed a number of issues at National Credit Union Administration's (NCUA) sixth and final listening session in Denver earlier in the week of July 30, such as concern

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