Links in “NCUA”

The NCUA has issued two prohibition orders for the month of August, one to a Texas credit union employee for undisclosed reasons and another to an Ohio credit union employee for theft. [9/1/15]

Although the methodologies for calculating overhead transfer rate and federal credit union operating fees do not require notice and comment procedures, the NCUA announced that the hotly debated topic will be open to public comment. [9/1/15]

ABA is all for reducing regulatory burdens, but when it comes to the NCUA's proposal to amend member business lending rules, ABA gives the NCUA the thumbs down, calling it "contrary to congressional intent to limit business lending activities by the credit union industry." [8/31/15]

The NCUA will be offering a webinar all about participation lending, including discussion on benefits and requirements for buyers and sellers. The webinar is scheduled for September 16 and you can register here. [8/27/15]

The NCUA has instructed examiners that they can no longer accept files from credit unions if they are not encrypted by the credit union.  If the credit union is unable or unwilling to encrypt the files, then the credit union must send the files directly to the NCUA’s encrypted equipment. [8/26/15]

While CUNA is supportive of the NCUA’s proposed MBL rule that will eliminate many of the specific underwriting requirements in the current rule, the association recommends that credit unions have an opportunity to comment on the supervisory guidance issued prior to the finalization of the new MBL rule. [8/26/15]

According to NCUA Board Member Mark McWatters, he was unaware of NAFCU’s request for extended exam schedules for certain  low-risk credit unions until notified by the CU Journal. McWatters stated that the lack of board debate on the issue is further evidence of the lack of transparency and collegiality within the agency. [8/24/15]

NCUA Chair Debbie Matz says that the agency will issues a Letter to Federal Credit Unions concerning the fixed asset rule changes that eliminate the 5% cap on investments in fixed assets before the October 1 effective date. According to Matz, the letter will provide detailed guidance on examiner expectations and credit union responsibilities. [8/21/15]

The NCUA took less than 48 hours to shoot down the NAFCU’s recommendation that exam schedules be extended to 18 months for low risk, federally insured credit unions in order to reduce costs. NCUA officials claim that one of the lessons they learned from the financial crisis was the importance of early detection of problems. [8/21/15]

The NCUA released its statement regarding 2015 second half efforts to provide no-cost consulting services to 191 qualified credit unions aimed at developing outreach strategies, implementing new products and services, or completing strategic plans, succession plans and marketing calendars. [8/21/2015]