Links in “NCUA”

Or so says NCUA in a new video on the NCUA YouTube channel that it has released entitled the first three episodes of a 7-part series entitled “Deterring, Preventing, and Detecting Employee Dishonesty.” The series is intended to help credit union managers and volunteers detect and prevent internal fraud, which has cost the share insurance fund over $311 million over the past three years. [7/25/14]

NCUA board member Rick Metsger says that prudent capital management should include a capital buffer above the minimum requirement for being well-capitalized. [7/25/14]

The NCUA has publicly released the agenda regarding its meeting to be held July 31, 2014. Topics of consideration include the proposed rule related to ownership of fixed assets, Call Credit Union's request for community charter expansion, NCUA's mid-year operating budget, and more. [7/25/14]

Employee fraud has led to $311.4 million in losses in the past three years. To help limit insider fraud NCUA has released a series of videos that can be viewed on the NCUA YouTube channel. [7/24/14]

The NCUA is taking steps to provide regulatory relief by eliminating the fixed-assets cap, modernizing member business lending and updating appraisal provisions. “As always, with each proposed rule, your voices will be heard for comments and concerns.” [7/24/14]

NCUA Chair Debbie Matz, speaking at the NAFCU Annual Conference, announced that in the coming months NCUA will be issuing three proposed rules that she believes will provide greater flexibility and guidance for credit unions. Specifically, she referred to plans to effectively eliminate the 5% cap on fixed assets, to provide greater flexibility to the member business lending rule and to update the NCUA advertising rule in order to address new technology, including social media. [7/24/14]

July’s issue of The NCUA Report describes the process that NCUA is using to determine when a credit union will be assessed a civil money penalty for filing a late 5300 Call Report and includes measures the agency will take to consider extenuating circumstances before penalties are imposed. The names of the credit unions that are assessed penalties will be made public and all penalties collected will go to the U.S. Treasury and not to NCUA. [7/23/14]

The NCUA has published the July edition of its report. This latest edition covers key issues that credit unions should be aware of. [7/23/14]

400 participants attended the three NCUA Listening Sessions held in Los Angeles, Chicago, and Alexandria. Recordings of the sessions are to be available on the NCUA website in the near future. In a statement issued yesterday, NCUA Chair Debbie Matz hinted that interest rate risk may be better evaluated through the supervisory process than through risk weightings under the proposed risk-based capital rule. [7/22/14]

In a letter to the House Financial Oversight Committee, NCUA Chair, Debbie Matz, claims that if the proposed risk-based capital rule had been in effect in 2007, it would have saved the NCUA Share Insurance Fund (NCUSIF) as much as $180 million. Matz added that the reason that some of the risk weightings are different in the proposed rule versus the FDIC rule is that the FDIC rule does not take into consideration concentration risk. [7/21/14]