Links in “NCUA”

The NCUA has released its July issue, available here. This report highlights Board actions, approvals, and what is expected for the rest of 2015. [7/23/15]

The NCUA is hosting an upcoming webinar on the FFIEC's new cybersecurity tool and how it can be used to help protect your institution. The webinar will be hosted by Tim Segerson, Deputy Director of Examination and Insurance, and Patrick Truett, an Information Systems Officer for the Office of Examination and Insurance. The webinar is free of charge, and participants may submit questions in advance to be answered during the webinar. [7/22/15]

Part 2 of this NAFCU blog post continues the break down of different portions of NCUA's MBL proposal and highlights key issues they need feedback on. This part discusses the scope and applicability of NCUA's proposed exemption for small credit unions from this rule. [7/20/15]

Last week we brought you a story about NCUA Board Member Mark McWatters’ concerns about the lack of transparency with the collective bargaining process for NCUA employees. NCUA Chair Debbie Matz has now fired back commenting that, “As I’ve said before, it behooves Professor McWatters to step down from his ivory tower, come into the office for more than his typical three days per month and engage in our policy-making process.”  [7/13/15]

The NCUA has liquidated Trailblazer Federal Credit Union in Washington, PA and its deposits and members were immediately assumed by nearby Chrome FCU.  The credit union, which was determined to be insolvent with no prospect of returning to viability,  had 1,535 members and $4.1 million in assets. [7/13/15]

The video recording of the NCUA’s June Board meeting is now available for your viewing pleasure. [7/13/15]

While the proposal would extend share insurance coverage to lawyers’s trust accounts (IOLTAs), it does not achieve full parity with the FDIC.  According to CUNA, the NCUA has the authority to and should extend coverage to prepaid and stored-value cards, as well. [7/13/15]

NCUA Board member Mark McWatters says that the recent collective bargaining agreement between NCUA and the National Treasury Employees Union was not handled in an appropriate manner. He states that he was not provided with a draft of the agreement, wasn’t given the opportunity to comment on the agreement during the negotiation process, and that the final agreement was not presented to the Board for vetting or for approval or rejection.

The NCUA has approved a charter for ELCA Federal Credit Union in Chicago, IL, which will serve the employees, members, synods, and member congregations of the Evangelical Lutheran Church in America. ELCA FCU is the first new credit union chartered in Illinois since 2006. [7/9/15

The NCUA and the National Treasury Employees Union have signed a new 5-year collective bargaining agreement, which will ensure that NCUA employees receive compensation and benefits on par with the employees of the other financial services regulators.  The agreement also implements pay caps for each pay grade in order to control costs. [7/9/15]