Links in “NCUA”

In a 47-page comment letter submitted to the NCUA, CUNA identifies serious flaws in the proposed risk-based capital rule and urges that the rule be withdrawn. CUNA states that the rule could cause significant harm to the industry, particularly in light of the fact that the Agency has failed to provide adequate justification for the major changes the rule would require. [5/29]

Three of the credit unions whose names appeared on the NCUA late filer list say that they submitted their Call Reports on time. It appears that transmission issues may have caused the upload process to not be successful. NCUA has stated that late filers that do not have a legitimate reason for the delay will receive a letter that details the penalty they will be assessed. [5/29]

The National Association of State Credit Union Supervisors (NASCUS) filed comments this morning on the NCUA’s proposed Risk-Based Capital Rule. [5/29]

NCUA has received 1,100 comment letters in response to its risk-based capital rules. Here's what's next. [5/28]

The NCUA published a pamphlet entitled "Truth in Mergers: A Guide for Merging Credit Unions" available online. The brochure provides CU managers and directors with a framework to begin discussion about the future of the credit union. It incorporates lessons learned from a review of more than 430 mergers over an 18-month period. [5/27]

The National Credit Union Administration started assessing civil money penalties for the late filing of 2014 first-quarter Call Reports. After investigating any mitigating factors, the NCUA will send letters to late filers describing the penalties to be assessed. This will be the first time civil money penalties will be charged for late filing of Call Reports. [5/23]

NCUA has given approval to the proposed field of membership for a planned new credit union, Players Choice Federal Credit Union.  Players Choice FCU will be the first credit union chartered to serve professional sports industry. [5/23]

The final portion of the NCUA's proposal on common bonds would make the process for adding some associational groups easier. Here's a look at the proposal. [5/23]

And that was $176,133 less than the budgeted amount for an 11-day training conference held in Jacksonsville, FL, and attended by more than 1,200 participants. According to NCUA Executive Director Mark Treichal, the biennial training conference is an extensive skills development program designed to make the exam process more consistent and efficient. [5/22]

The 26 fair lending exams in 2013 exceeded the agency's goal of 18 by 44% and is more than double the number of such exams in 2012. And that's just on-site exams. NCUA reported 41 off-site contacts with credit unions related to fair lending. [5/21]