Links in “NCUA”
- NCUA and Trade Groups Fighting for Cyber Control Over CU Vendors
Reuters article highlights the battle between the NCUA's Debbie Matz and credit union trade groups over whether the regulatory agency should have the power to examine third-party vendors. [3/10/15]
- OIG Report Supports NCUAâs Actions Following Loss of Thumb Drive
NCUAâs Office of the Inspector General has released a report in which it concludes that NCUA acted appropriately and prudently in not announcing at the time of discovery that an examiner had lost a thumb drive containing member data and that there was no attempt at a cover up of the incident. The report notes that another audit is in process regarding the internal controls in place at the agency to protect the security of sensitive information. [3/6/15]
- Help for the Little Guys
The NCUA has proposed an amendment which would increase the asset threshold under the Regulatory Flexibility Act from $50 million to $100 million. If passed, this would provide greater regulatory relief for small credit unions. [3/6/15]
- Proposed Study Could Slow Enactment of RBC2
A bill introduced in the House would require NCUA to conduct a study on the risks to credit unions holding mortgage servicing assets. Many in the credit union community have been concerned about the risk weighing allocated to mortgage servicing rights under the revised risk-based capital rule. [3/5/15]
- Appeals Court Breathes New Life Into NCUA Lawsuit Against Barclays
The Court of Appeals for the 10th Circuit has revived a lawsuit that the NCUA had brought against Barclays Capital Inc. to obtain more than a half of a billion dollars in damages for Barclayâs role in selling mortgage-backed securities to US Central FCU and Western Corporate FCU. Barclays had previously won at the District Court level by arguing that NCUA had waited too long to file suit. [3/4/15]
- When Milk and Veggies Aren’t Enough: How to Grow Big and Strong
The NCUA will be hosting a webinar on March 25th focusing on expanding membership and serving underserved communities. Topics will include how to use data, business plans, and Internet applications to aid in membership expansion efforts. Don't forget to sign up! [3/4/15]
- NCUA Working to Raise Consumer Awareness
Itâs National Consumer Protection Week and the NCUA is touting its website MyCreditUnion.gov where consumers can obtain information about their privacy rights, fraud and ID theft prevention, and credit scores among a host of other items. A companion website, espanol.MyCreditUnion.gov is offered, as well. [3/3/15]
- Credit Union Loan Growth Hits Nine-Year High
According to Call Report data just released by NCUA, loan growth at credit unions in 2014 was the highest one-year growth rate since 2005. Loans grew in every major category and resulted in an overall loan-to-share ratio for the industry of 74.9%, the highest since 2009. [3/3/15]
- McWatters to Vote Against 2-Tier RBC Rule
NCUA Board Member Mark McWatters is pledging that he will vote against the latest risk-based capital rule. McWatters claims that the legal opinion NCUA used to support its two-tiered net worth standard is weak. [3/3/15]
- NCUA Continues to be Under the Magnifying Glass
A new bill has been introduced in the House that calls for a GAO study of NCUA spending and budgeting. This action comes on the heels of a Senate query about why NCUA does not hold public budget hearings. [3/2/15]
