Links in “NCUA”

The latest action from NCUA is being met with great disappointment. In a letter to Congress, NCUA Chair Debbie Matz states that the earliest that the Agency  could provide credit unions with an 18-month exam cycle would be the end of 2017, explaining that it will take that long to adjust to regulatory improvements and build out systems to processes to support them. What? [3/11/17]

Debbie Matz took the helm of the NCUA board in the midst of the financial system's distress. For a total of 11 years she has served with the NCUA. "I am proud of all that the NCUA has accomplished to bring stability, advance growth, and promote flexibility in our nation's credit unions," Matz said. [3/10/16]

The National Credit Union Administration (NCUA) Board Chairman announced she will be stepping down as of April 30, 2016. What type of legacy will she leave? [3/10/16]

President Barack Obama met with financial regulators offering compliments, concerns, and strategies for future improvements. [3/8/16]

Michael J. McKenna, NCUA's general counsel, outlined the conditions that a multiple-group credit union has to meet when it expresses an interest in merging with another multiple-group credit union so both facilities may keep their local identities and roles in local decision-making. [3/7/16]

The Washington, D.C.-based credit union had 665 members and assets of $2.5 million. It was chartered in 1954. [3/7/16]

NCUA names four individuals who are prohibited from being involved in the affairs of any federally insured financial institution. The individuals have pleaded guilty to charges of embezzlement, theft, or structuring. [3/1/16]

The NCUA has agreed to insure members accounts of Jafari No-Interest Credit Union. The credit union will serve members of three religious associations in Texas. [2/29/16]

Gigi Hyland, Executive Director of the National Credit Union Foundation and former NCUA Board Member, warned a group of attendees at the CUNA GAC that over regulation on the part of the CFPB on overdraft accounts could result in credit unions eliminating overdraft services and driving consumers to payday lenders to meet short falls. On the other hand, Ms. Hyland also warned that many financial institutions, including credit unions, have relied too heavily on overdraft fee income rather than focusing on what’s best for individual consumers. [2/25/16]c

The NCUA's decision to ease lending restrictions for credit unions in making commercial loans infuse unnecessary new risk into the financial system, is outside the scope of the credit union mission, and enables them to unfairly capitalize on their non-profit tax exemptions as they steal business from community banks, according to many irate bankers. [2/25/16]