Links in “NCUA”

While both trade associations believe that RBC2 is an improvement over the original RBC proposed rule, NAFCU has thrown in its support behind a Congressional bill, known as the “stop and study” bill, which would require NCUA to reevaluate the merits of RBC2 and justify the agency’s authority to impose the rule’s directives before proceeding with a final rule. CUNA believes that the chance of legislative action is remote and  is questioning the costs involved in having the agency reevaluate the proposal. [6/25/15]

The NCUA Board is issuing a final interpretive ruling and policy statement to establish a minority depository institution preservation program for federally insured credit unions. [6/25/15]

Five of the federal banking regulatory agencies—FDIC, FRB, OCC, FCA, and NCUA—have recently issued a joint final flood insurance rule. The rule accomplished many things, including requiring escrowing of flood insurance payments from non-exempt loans, and requiring borrowers be given the option to escrow flood insurance premiums and fees. [6/25/15]

According to a legal analysis prepared for the National Association of State Credit Union Supervisors (NASCUS), the Administrative Procedures Act requires that the NCUA submit the calculations its uses to develop its overhead transfer rate (OTR) to public notice and comment. The OTR represents the percentage of funds the NCUA transfers from the NCUSIF to the agency’s operating budget each year to cover insurance-related expenses. [6/24/15]

The National Credit Union Administration released its 2014 Annual Report. See the full text here. The report highlights the agency's activities, policy initiatives, and accomplishments for the year. [6/24/15]

Rather than allowing for a waiver process to obtain exceptions to NCUA’s Member Business Loan Rule’s strict underwriting requirements, the just-issued proposed revisions to Part 723 would allow individual credit union boards of directors to establish underwriting standards within generalized safety and soundness requirements. [6/23/15]

Five federal agencies, including the NCUA, have jointly issued a final rule that addresses flood insurance. While the rule changes are expansive, two key changes will require financial institutions with $1 billion or more in assets to escrow for flood insurance premiums and would exempt certain detached structures from the mandatory requirement to purchase flood insurance. The new provisions go into effect on January 1, 2016. [6/23/15]

That's what CUNA has to say about a proposed member-business lending (MBL) rule from the NCUA that moves to a principles-based approach. The rules would remove guarantee requirements, eliminate the need for waivers, and more. [6/19/15]

A recent NCUA meeting saw approval for five actions including a proposed rule giving federally insured credit unions greater flexibility and autonomy in offering member business loans. The rule will also lend support to minority credit unions and aid in approving the rule amending loans in special flood hazards. [6/19/15]

The House Appropriations Committee has adopted language by voice vote which reflects concerns of CUNA and credit unions regarding the NCUA's continuing work to issues a risk-based capital (RBC) regime for credit unions. [6/18/15]