Links in “NCUA”

The NCUA has been ranked as a “best place to work” for minorities, women, veterans and Hispanics.  This is the first year that the agency, which has received high rankings in the past, was recognized in all four categories. [5/12/15]

NCUA’s proposed rule that makes changes to its share insurance rule was published in today’s Federal Register.  The rule provides for pass-through share insurance on IOLTA accounts and other similar escrow accounts.  Comments are due by July 13, 2015. [5/12/15]

You’ve likely had the situation in your credit union where a family member with a power of attorney is looking to do a transaction on an elderly person’s account that doesn’t seem to be in that elderly person’s best interest. How do you handle those situations? To get answers to that and other situations that may indicate elder abuse, join in a Twitter chat hosted by NCUA and AARP on May 13^th at 11:00 am EST. [5/8/15]

According to NCUA Chair Debbie Matz, new regulations proposed by the CFPB and Department of Defense could put at risk credit unions’ ability to offer members small, reasonably priced loans as alternatives to payday loans. The DOD proposal, for example, would cap the loan rate at 36% including fees, which would cause many credit union loan rates to exceed the cap. [5/7/15]

...a website. The NCUA's new Secondary Capital Working Group webpage was made to help the group increase the availability of secondary capital to low-income credit unions. [5/7/15]

The NCUA announced Tuesday that 28 federally insured credit unions have agreed to pay civil money penalties for late filing of fourth-quarter 2014 Call Reports. Check out the list of offenders here. [5/6/15]

The NCUA liquidated TLC Federal Credit Union, an $803 million credit union based in Tillamook, Oregon. Fibre Federal Credit Union of Washington takes over. [5/1/15]

The National Credit Union Administration Board's fourth open meeting of 2015 included five approved items that included expanded number of automatic approval for 12 designated associational groups, pass-through insurance for certain account types, short-term relief bridge loan options, and new rules on capital rules for acquired retained earnings. [5/1/15]

NCUA has made it clear that cybersecurity will be a hot button issue for examiners this year. To help credit unions, NCUA is hosting a free, 90-minute webinar entitled, "Cybersecurity Basics” during which a panel of experts will discuss the precautions that credit unions should be taking and the consequences of not adequately protecting member information. [4/30/15]

Citing unsafe and unsound practices, the Ohio Division of Financial Institutions has placed $27.3 million Montgomery County Credit Union into conservatorship. The credit union’s doors will remain open with the NCUA overseeing the operations as the appointed agent for the conservator. [4/24/15]