Links in “NCUA”
- NAFCU Files FOIA Request for CFPB Overdraft Findings
Citing a need for more information about "consumer friendlyâ practices, NAFCU has filed a Freedom of Information Request to obtain the supporting documentation for the CFPBâs recent report on overdraft practices. The CFPBâs report focused on findings of deceptive practices, but, according to NAFCU, credit unions want to know what practices the CFPB found to be beneficial to consumers. [3/17/15]
- NCUA Warns Consumers about âNational Credit Unionâ Phishing Scam
NCUA has received reports that an online phishing scam is using a website with logo and design similar to NCUAâs website. Consumers are receiving emails directing them to a site for the âNational Credit Unionâ where they are asked to provide personal information or to transfer large amounts of money. [3/17/15]
- Stabilization Fund Receives Clean Audit
The Temporary Corporate Credit Union Stabilization Fund received a clean audit report for 2014 from NCUAâs independent audit firm, KPMG, LLP. This is the first year in which the fund had a positive net position. [3/17/15]
- Thieves Going Phishing
A recent scam is using a website and logo similar to those of the NCUA to gain personal information and steal money from consumers. The NCUA warns that this website has no affiliation, and consumers should beware of similar schemes to gain personal information or money. Those affected by this scam may contact the NCUA's Fraud Hotline toll-free at (800) 827-9650. [3/17/15]
- New Fixed Asset Rule on the Agenda for Next NCUA Board Meeting
The top agenda item for the March 19 NCUA board meeting is a proposed rule that would eliminate the 5% fixed asset cap. It is anticipated that the proposed rule will have a 30 to 60 day comment period. [3/13/15]
- NCUA to Modernize the AIRES Exam Platform
NCUA announced plans to modernize the AIRES examination platform to provide a new, secure portal through which examiners and credit unions can exchange information. Larry Fazio, Director of Examination and Insurance, said that the revamping of the platform could take up to two years to complete. [3/16/15]
- Regulatory Relief on the Rise in 2015
NCUA Board Chairman Debbie Matz has identified five areas in which the NCUA will strive to offer regulatory relief:Â supplemental capital, fields of membership, fixed assets, asset securitization, and member business lending. [3/10/15]
- McWatters Calls for Transparent Regulation
NCUA board member Mark J. McWatters stressed to members of the CUNA the importance of transparent regulation. McWatters urged the NCUA to establish at least three advisory committees, with the task to advise the NCUA board on budgets, examination procedures, and regulatory relief. [3/10/15]
- Threat of Cybercrime Keeps Matz Awake at Night
NCUA Chair Debbie Matz says that her greatest concern, and what keeps her awake at night, is the scenario where a cyber hacker sneaks in through a credit union vendor to wreak havoc on the industry. Although, there has been no situation in which this actually occurred, Matz claims that the warning flags are there and the agency needs more authority to protect credit unions from this threat. [3/10/15]
- Matz Provides Reg Relief Update
Speaking at CUNAâs GAC, NCUA Chair Debbie Matz told attendees that the agency is working on a supplemental capital rule to coincide with the implementation of RBC2 in 2019, and will be issuing a new proposed rule on fixed assets very soon. She also said she has working groups looking into field of membership issues and the MBL personal guarantee requirement. [3/10/15]
