Links in “NCUA”
- 84 Credit Unions Fined for Late Call Reports
NCUA meant business when it said it would fine credit unions for filing their 5300 Call Reports after the filing deadline. Last month 84 credit unions were assessed fines with the largest individual fine being $10,000. [7/1/14]
- A Modern Twist to an Old Rule
As part of NCUA's Regulatory Modernization Initiative, the NCUA Board proposes revising two of NCUA's appraisal regulations. [7/1/2014]
- CUNA Requests Clarification of NCUA Proposed Associational Common Bond Rule
CUNA has submitted a comment letter to NCUA in response to the proposed associational common bond rule in which it recommends that existing association groups that have already been approved be grandfathered in under the new rule. In the addition, CUNA has requested further information on several points, including the actual review process for new association groups and an appeal process. [6/30/14]
- Matz Indicates RBC Risk Weightings May Be Lowered
During a Listening Session in Los Angeles, NCUA Chair Debbie Matz, stated that the agency is taking a second look at the proposed risk of certain asset categories, specifically mortgages, business loans, investments, CUSOs and corporates, and will âpresumably lowerâ their risk weightings. Matz also said that they are considering raising the asset threshold limit for determining which credit unions will be exempt from the risk-based capital rule. [6/27/14]
- NCUA Stays Hip by Modernizing Appraisal Regulations
As part of NCUA's Regulatory Modernization Initiative, the NCUA Board is proposing to revise two of NCUA's regulations regarding appraisals. Firstly, the revisions would eliminate the requirement that federal credit unions make available a copy of the appraisal used in connection with that member's application for a loan secured by a first lien on a dwelling. Secondly, the proposed rule would expand the current exemption for certain transactions involving an existing extension of credit. [6/27/14]
- Safe Harbor Just Got Safer
The NCUA has proposed a rule which would continue the safe harbor for financial assets transferred in connection with securitizations and participations and defines the conditions for safe harbor protection for securitizations and participations. [6/27/14]
- NCUA to Shed Some Light on Mobile Apps
The growing use of mobile applications and the rewards and risks associated with their usage will be discussed during a free webinar, âMobile Applications â The Next Stepâ hosted by the National Credit Union Administration on Wednesday, July 9, 2014, at 2 p.m. Eastern. [6/24/2014]
- More Heavy Hitters Weigh In on RBC
The House Financial Services Committee Chair and a ranking member have sent a letter to NCUA Chair Debbie Matz that echoes concerns from others on the Hill about NCUAâs proposed risk-based capital rule. The letter calls into question NCUAâs methodology for assigning higher risk weights to certain types of assets and expresses concerns about the cost and burden of implementing the changes. [6/23/14]
- ABA Calls for Stronger Independence Between Associations and FCUs
American Bankers Association has sent a comment letter to the NCUA calling for stronger independence between associations and credit unions, including prohibiting credit unions from paying a member's association dues, not having credit union representation on the association's board, and not permitting individuals to join the association and credit union simultaneously. [6/23/14]
- NCUA Shows Interest in Interest Rate Risk
The NCUA has launched a new web resource page for credit unions to use to better understand and prepare for changes in interest rates and the risk those changes present. NCUA Board Chairman Debbie Matz stated, "we are in a very unusual rate environment," and goes on to explain the need for such resources in today's world. The new webpage includes videos, charts, Â and applicable links to regulations, interagency guidance, best practice resources, and more. [6/23/14]
