Links in “NCUA”

In a report released yesterday, NCUA Chair Debbie Matz stated that the final rule on risk-based capital may be changed to allow for a phase-in period longer than the proposed 18-month time frame. [5/21]

The FBI is investigating whether an employee at the former Parsons-Pittsburg Credit Union embezzled $10 million to support a gambling habit.  NCUA took over the $13.5M credit union in January at which time the employee admitted to gambling wins and losses totaling $16M in the previous year. Now $10M in nonmember deposits have been discovered missing. [5/21]

AffirmX's Senior Analyst Coppelia Padgett answers the top five most common BSA questions we received after participating in an NCUA BSA webinar. See if your burning BSA question made the list. [5/20]

NCUA’s annual report shows that credit union failures in 2013 cost the NCUA Share Insurance Fund $668 million. Of the 18 credit unions that failed, one was voluntarily liquidated and four underwent assisted mergers. [5/20]

The NCUA Report is NCUA’s flagship publication that highlights important NCUA Board actions and key issues that credit union volunteers and management need to know.  It is a one-stop resource to learn not just the “what” but also the “why” behind NCUA’s actions. [5/20]

More than 550 credit unions and credit union advocates have flooded the NCUA's website with letters and more than 320 members of the US House signed a letter addressed to the NCUA. What are they concerned about? The proposed risk-based capital rule, of course. [5/19]

Health One Credit Union, a Michigan-chartered institution, was placed into conservatorship after being cited for unsafe and unsound practices while the NCUA and the Michigan Department of Insurance and Financial Services work to resolve these issues. [5/19]

Three NCUA representatives explain the reasons for updating the risk-based capital rule in a YouTube video. [5/19]

A NAFCU-sponsored letter with the signatures of 324 members of Congress has been sent to NCUA Chair Debbie Matz. The letter, which calls for more clarity about why the proposed risk ratings for credit unions is different from those set for other types of financial institutions, urges NCUA to consider the cost burden of the proposed rule and how that burden might affect mortgage and business lending. The letter also calls on the Agency to extend the comment period beyond 90 days. [5/16]

NCUA has $1.2 million in grants now available from the Community Development Revolving Loan Fund.  NCUA will be accepting applications from June 2 through June 30 for grants in four areas:  (1) to cover costs to obtain a CDF designation; (2) for new product and service development; (3) for collaborative purposes; and (4) for training. [5/15]