Links in “NCUA”

NCUA has released the first five videos in an eight-part series designed to help credit unions detect and deter employee dishonesty and fraud. The videos, which can be viewed on the NCUA YouTube channel, address issues such as separation of duties, handling of employee and family member accounts and the red flags that may indicate fraudulent activity. [11/4/14]

NCUA has confirmed that it will be eliminating interest rate risk considerations from the soon-to-be released and revised risk-based capital proposal. A separate rule addressing interest rate risk is expected to be issued in the first half of 2015. [11/4/14]

NCUA has issued prohibition orders against two former credit union employees and one institution-affiliated party. In one case a credit union accountant stole nearly $200,000 form the credit union, while in another a craftier accounting assistant embezzled over $555,000. [11/3/14]

There is still time to register for NCUA’s November 19^th webinar that will address four key ways in which credit unions can grow their loan portfolios in a safe and sound manner. A combination of NCUA staff and credit union personnel will host the webinar that is scheduled for 90 minutes beginning at 2:00 pm EST. [10/31/14]

Several officials at NCUA have commented that the agency is considering removing the consideration of interest rate risk from the risk weights assigned under the proposed risk-based capital rule and issuing a separate IRR rule. This response is based on the deluge of adverse comments from the industry regarding NCUA’s focus on IRR in the RBC proposed rule. [10/31/14]

Five agencies (the OCC, FRB, FDIC, FCA, and NCUA) are proposing to amend their regulations regarding loans in areas with special flood hazards to implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). In particular, the agencies proposed six additional exemptions from the escrow requirement and the incorporation of the detached structures provision of the HFIAA. [10/30/14]

The NCUA has made their 2015 board meeting schedule available to the public. Videos of past meetings are available online here. [10/28/14]

A proposal to amend flood insurance rules was made by five federal agencies. The proposed amendments focus on escrow requirements. A 60-day comment period will be allowed once the rule is published in the Federal Register. [10/27/14]

Want your employees to love their jobs? Take a page out of the NCUA’s book. An annual employee survey finds that 90% of NCUA staff feel their work is important with 97% willing to put in extra effort to get their jobs done. [10/27/14]

The NCUA Board adopted a proposed rule that addresses changes to escrow account payments for flood insurance premiums and establishes a new exception for non-residential structures that are part of residential property, but not attached to the primary residence. A second proposed rule addresses technical corrections and changes to the Corporate Credit Union Rule. [10/24/14]