Links in “NCUA”

The NCUA has released its June report, covering topics from DDoS attacks to Board actions. [6/17/15]

The NCUA and the AARP will be hosting a free webinar on June 24^th at 2:00 P.M. EST that will provide information about how to detect elder abuse. The panelists will discuss examples of fraud and scams, helpful prevention tips, guidance on how to safely conduct online transactions, and information about AARP’s Fraud Watch Network. [6/16/15]

According to CUNA, the NCUA needs to take an innovative approach to the FOM rules in order to better reflect how today’s members live, work, and play.  CUNA is recommending a 3-prong approach that includes, among other items, recommendations that would streamline the approval process, allow merging credit unions to retain both FOMs, eliminate the population cap on local communities, and expand the definition of community and TIP charters. [6/16/15]

A new House bill would take the NCUA to task on its proposed RBC2 rule by requiring a public study on the appropriate capital requirements for federal and state chartered credit unions. The bill, which would delay the finalization of NCUA’s proposed rule, would also require the agency to explain its rationale for the risk weights assigned to specific assets and why credit unions should have similar or different capital requirements from other financial institutions. [6/16/15]

NCUA Chair Debbie Matz has sent a 3-page letter to the House Financial Services Committee in which she states that the pending budget transparency bill, which would require NCUA to hold “pre-decisional” public budget hearings, would undermine the agency’s independence. She also underscored that this requirement is without precedence and that no other financial institution regulator is subject to a similar requirement. [6/15/15]

It’s good to be a credit union CEO in Idaho. According to the latest report issued by the NCUA the median loan growth nationally for the past 12 months was 4.0%, but Idaho led the country with a loan growth rate of 13.4%. In addition, while the median asset growth nationwide was 1.8%, Idaho had an asset growth rate of 4.8% with only Alaska at 5.6% reflecting a higher asset growth rate. [6/15/15]

The NCUA’s Office of Inspector General has issued its audit report in which it finds that the agency does not require credit unions to encrypt member information during exams or use its tools to protect that information. The result is that sensitive member information could be at risk. [6/15/15]

The NCUA's June 18th Board meeting agenda reflects upcoming key matters meriting monitoring. Topics include Flood Insurance, Interagency Diversity Statement, Minority Depository Institution Preservation Program, Paperwork Reduction Act efforts, Interest Rate Ceiling and Member Business Lending proposed rule. Stay tuned. [6/12/15]

According to a white paper just issued by the NAFCU, the NCUA could have approved more than  100 credit unions for an exemption from the MBL lending cap between 2010 and 2014 if it had applied a more liberal interpretation to the statutory exemption for credit unions with a history of making member business loans. The NAFCU states that the NCUA could have interpreted this section of the law to include credit unions that have had a successful MBL program in place for at least five years. [6/11/15]

The FDIC and the NCUA release their quarterly reports, finding that the number of banks fell from 6,509 at the end of last quarter to 6,419 as of March 31. The number of federally insured credit unions fell to 6,206, exactly 285 fewer than at the same time last year. [6/11/15]