Links in “Credit Unions”

Need a little help processing the pending changes to the Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure forms? Here are some resources. (Also see our video on the subject, Risk Watch 9.) [4/23]

Calling NCUA’s proposed stress-testing rule for credit unions with assets of $10 billion or more inappropriate, costly, and unnecessary, NAFCU General Counsel Carrie Hunt writes that, at a minimum, the proposed rule should be delayed until there is more clarity with the proposed risk-based capital rule. [4/22]

CUNA’s Subcommittee on Examination and Supervision met yesterday with NCUA’s Director of Examination and Insurance Larry Fazio and Deputy Director Tim Segerson. The subcommittee pressed the NCUA officials with their concerns about the adverse effect the proposed rule will have on credit unions’ capital cushion and on the agency’s proposed authority to impose additional capital requirements on individual credit unions on a case-by-case basis. [4/22]

NCUA was ill-prepared to deal with questions from the audience about why the NCUA’s risk-based capital rule is more strict than the bank rule. NCUA Board member Rick Metsger did not receive the warm welcome he has received at previous appearances, but added assurance that the NCUA Board is making major changes to the proposed rule. [4/21]

“Heartbleed” may be affecting other parts of your infrastructure, such as your servers, mobile apps, and mobile devices. Both Cisco and Juniper have acknowledged that some of their network equipment uses the affected software. Mobile apps that don’t use the affected software may also be vulnerable if they cycle through servers that do. [4/21]

Who are these companies asking for your HMDA data, why are they asking, and do you have to comply? [4/21]

Chip Filson of Callahan & Associates skewers the NCUA’s accounting practices for loan losses for the NCUSIF, the largest single expense for the share insurance fund. Filson demonstrates that the loss provisions established by the NCUA for the past six years bear no relationship to actual losses, which raises the question of whether the agency should have authority over an individual credit union’s reserving decisions as stated in the proposed risk-based capital rule. [4/18]

CUNA and NAFCU have jointly requested the NCUA extend the comment period for the proposed risk-based capital rule for an additional 90 days. The trade associations assert that the current end date for the comment period, May 28^th, has not provided credit unions sufficient time to analyze the impact of the proposed rule on their operations and to prepare responses. [4/18]

Money services businesses offer a very valuable service to their customers. Unfortunately, these businesses are also a favorite for money launderers. In this episode of Risk Watch, expert Jane Pannier will provide compliance guidelines for financial institutions that offer or maintain accounts for MSBs.

We use financial ratios to evaluate performance and set goals. However, there are questions that need to be asked about these ratios in order to understand the pros and cons of their use and applicability. [4/17]