Links in “NCUA”
- More Account Types Now Eligible for NCUA Coverage
The NCUA has announced that interest on lawyer trust accounts (IOLTAs), real estate escrow accounts, and prepaid funeral accounts are now eligible for enhance insurance. [1/29/16]
- FOM Clock Winding Down
The comment deadline for the NCUA's Field of Membership proposal is but days away. Bankers are campaigning against it. So if you want to make your voice heard, here's your chance. [1/29/16]
- Bankers Claims About FOM Are Factually Incorrect
According to a letter from CUNA to Congressional leaders, the recent letter submitted to members of Congress by the American Bankers Association and the Independent Community Bankers Association makes claims that are factually incorrect. CUNAâs letter refutes the bankersâ claims that the proposed rule would allow for unchecked membership growth and that NCUA exceeded its statutory authority. In fact, CUNA states, NCUA did not go far enough. [1/28/16]
- Don’t Get Penalized, File Your Call Report
Twenty-two credit unions are subject to civil monetary penalties for filing late Call Reports. The NCUA urges credit unions to "take advantage of the assistance NCUA offers." [1/28/15]
- Comments Welcomed Regarding NCUA Operating Fee and Overhead Transfer Rate Methodologies
The NCUA is requesting comments regarding Operating Budget primary funding mechanisms, Overhead Transfer, and annual Operating Fees, all in an effort to receive input from stakeholders representing federal and state-chartered credit unions. [1/27/16]
- Letter to Credit Unions Confirms Changes to Annual Privacy Notice Requirements
NCUA has issued Letter to Credit Unions 16-CU-03, which confirms that federally-insured credit unions no longer need to send an annual privacy notice to their members if they qualify for the newly-enacted statutory exemption. The exemption applies to credit unions that have not changed their privacy policies or practices since the member was last provided with a privacy notice and that do not share nonpublic personal information with nonaffiliated third parties. [1/26/16]
- NCUA Provides Additional Info to Fight ID Theft
The NCUA is encouraging credit unions to direct their members to its MyCreditUnion.gov website for more information about how to fight identity theft. In particular, there is updated information about preventing tax identity theft that warns consumers that the IRS will never initiate direct contact with them by email, text messages, or social media channels and request personal to financial information. [1/26/16]
- February 1 Begins Credit Union Service Organization Registration
Pursuant to National Credit Union Administration rules, federally insured credit unions must see to it that CUSO's they lend to or invest in provide information to NCUA. To introduce the CUSO registry, NCUA also will conduct a webinar on February 11. [1/26/16]
- Winter Storm Jonas Brings DC to Its Knees
The NCUA and other federal government offices have announced they will be closed today. No word yet on whether they will be open tomorrow after winter storm Jonas left the area paralyzed with over two feet of snow. In addition, most credit unions in Maryland, northern Virginia and Washington, DC are also closed today. [1/25/16]
- CDFI Certification Just Got Easier for CUs
Treasury and the NCUA just signed an agreement to ease the application process for low-income credit unions to become certificated as Community Development Financial Institutions. [1/22/16]
