Links in “NCUA”
- The All-Important $100 Million Threshold
The outlook for credit unions with less than $100 million in assets is challenging at best, according to the NCUA. Federally insured credit unions with less than $100 million in assets have seen their membership shrink 0.5% annually since 2000, while FICUs above that threshold have seen their membership grow 2.3% annually over that same period. [3/2/15]
- Congress Questions NCUA About Budget Hearings
The Senate Banking Committee questioned NCUA about its practice of holding closed-door budget hearings that donât allow stakeholders an opportunity to comment. The Committee also asked why the agency hired an outside law firm to provide a legal opinion to support its risk based capital proposal instead of relying on its own general counsel. [2/27/15]
- Not Required But Encouraged: The NCUA Suggests that CUs Offer More Youth Savings Programs
NCUA and other federal regulators are encouraging their financial institutions to offer youth savings programs, but have not created any new regulatory policy or establish industry expectations. [2/25/15]
- Youth: The Future of Financial Security
Five financial regulatory agencies (FinCEN, FRB, FDIC, NCUA, and OCC) have issued guidance encouraging institutions to promote improved financial strength of youth by offering savings programs directly geared toward young people. The guidance does not create any new regulatory policy or industry expectations; however, institutions are strongly encouraged to implement such programs. [2/25/15]
- Berger Presses for More Details About NCUA Risk Initiatives
NAFCU CEO Dan Berger wants NCUA to provide more details about the agencyâs future plans to address the risks it perceives in the credit union system. Berger says credit unions need to know now how future initiatives in areas such as interest rate risk and emergency liquidity might impact their operations and bottom line. [2/24/15]
- America and Military Saves Week
Knowing that 52 percent of American households could not afford a $400 emergency expense without additional assistance, the NCUA recently updated its consumer website with additional savings and financial tips. The update seeks to promote America Saves Week and Military Saves Week, which run from Feb 23-28. [2/24/15]
- NCUA Wants Oversight of CU Vendors
NCUA Chair Debbie Matz says that obtaining regulatory oversight of credit union vendors is NCUAâs top legislative priority for 2015. Matz claims that in order to protect credit unions it needs examination and enforcement authority over third party vendors that do business with credit unions. [2/23/15]
- How the NCUA Targets CUs to Audit for Fair Lending
Fridayâs webinar sponsored by NCUA highlighted how the agency selects the 25 credit unions it will audit for Fair Lending compliance in 2015: HMDA data outliers; member and whistleblower complaints; prior regulatory violations; general compliance risks; and recommendations from field examiners. NCUA also plans to conduct 50 offsite supervisory contacts this year, as well. [2/23/15]
- Number of Troubled CUs Declines
NCUA reports that there are 12 fewer troubled (CAMEL rating of 4 or 5) CUs than the previous quarter, and 31 fewer than a year ago at this time. [2/20/15]
- NCUA Board Meetings Go Transparent
The NCUA, as promised, completed its inaugural transparent livestreaming of its Boardâs open meeting. The live coverage was prompted by a request of NCUA Vice Chairman Rick Metsger and allows full access to the meeting. Approximately 130 "attendees" attended the meeting. More are expected. [2/20/2015]
