Links in “NCUA”

The NCUA wants the 12 million consumers that take out payday loans each year to know that there are lower cost alternatives available to them. Through a new YouTube video entitled, “Understanding Payday Loans,” the Agency hopes to educate consumers about how payday loans work and the costs involved, and to provide information about alternative short-term loan options that are available through credit unions. [7/30/15]

Chair Debbie Matz and a panel of senior NCUA executives addressed a number of topics at yesterday’s town hall meeting. Attendees were provided with updates and clarifications concerning future guidance on federal credit union employee benefits and the investments that fund them, the proposed member business lending rule, fair lending exams, fraud detection, and cybersecurity. [7/29/15]

NCUA Chair Debbie Matz may be on the firing line for recent comments she made to a Congressional subcommittee when she hosts another free town hall webinar today at 3:00 pm (EST).  Scheduled topics include NCUA’s regulatory modernization and regulatory relief efforts and the state of the industry. [7/28/15]

NASCUS President/CEO Lucy Ito wants to know why the NCUA never made public a section of a 2011 Price Waterhouse report that recommended that the Agency consider feedback from stakeholders on how it classifies its insurance related and operational activities for the purpose of determining the overhead transfer rate (OTR). The NCUA posted its OTR documentation on its website last Friday. [7/28/15]

As a result of comments made by NCUA Chair Debbie Matz at a recent Congressional hearing, bankers are urging Congress to investigate whether the NCUA is truly operating as an independent regulatory agency. The bankers claim that NCUA is simply a “cheerleader” for credit unions that allows credit unions to circumvent legislative action on issues such as the member business lending cap through favorable regulations. [7/27/15]

NCUA Chair Debbie Matz is attempting to make amends by issuing a prepared statement explaining her comments at a House subcommittee hearing that credit unions don’t represent their members. While not apologizing directly for her comments, Matz did apologize if her comments were construed as indicating that she lacked faith in credit union management. [7/27/15]

53 state banking associations write to Congressional leaders urging them to increase their oversight over the NCUA, which they claim has "turned into a cheerleader" for credit unions. [7/27/15]

At today’s meeting the NCUA Board will vote on a final rule that will eliminate the 5% cap on federal credit unions’ investments in fixed assets. The Board will also perform a mid-year reprogramming of its annual budget. [7/23/15]

The Senate Appropriations Committee will be marking up a bill today that contains numerous regulatory relief measures that will benefit credit unions, including the ability of privately-insured credit unions to join the Federal Home Loan Bank to requiring that NCUA conduct public budget hearings. [7/23/15]

In a letter to the House Financial Services Committee (HFSC) the ABA commends the committee for turning their sights on the NCUA's budget, and encourages them to take a closer look at what they call NCUA's rogue behavior. [7/23/15]