Links in “NCUA”
- NCUA Pumps Up the BSA Volume
NCUA will be hosting a series of free webinars starting May  21, 2014, which will provide an overview of OFAC's and FinCEN's programs, enforcement authority, and relationships with other regulators. Leading experts will include Adam Maddox (OFAC Sanctions Compliance Officer), Andrea Sharrin (Financial Crimes Enforcement Network), and Stephanie Brooker (Financial Crimes Enforcement Network). [5/6]
- Up to $240K for NCUA’s Diversity Director
Salary range for NCUA's director of Office of Minority and Women Inclusion is $175K to $240K. [5/5]
- Urgent-Needs Grants Available Through NCUA
NCUA has issued a reminder to low-income credit unions in the South and Midwest that they can apply for emergency grants through their Urgent Needs Initiative. The grants, which can be in amounts up to $7,500, are to cover emergency expenses resulting from the recent natural disasters in those areas. [5/2]
- NCUA Board Says No to RBC Extension Request
In a letter to CUNA, NCUA Board member Rick Metsger echoed the decision of Debbie Matz that there will be no extension of the comment period of the proposed Risk-Based Capital rule. Metsger stated that he feels there is sufficient time remaining in the comment period, which ends on May 28th, for all interested parties to submit their comments. [5/2]
- NCUA Receives Approval to Intervene in Loan Participation Lawsuit
NCUA has received approval to intervene in a lawsuit against three former employees of the now-liquidated Lynrocten Federal Credit Union. The $1.6 million dollar suit filed by Northern Piedmont Federal Credit Union alleges the three employees engaged in a loan participation fraud scheme. [5/2]
- NCUA Gives Five Prohibition Orders
Recently, the NCUA has handed out orders prohibiting five individuals from involving themselves in the affairs and business of any federally insured financial institution. [5/1]
- NCUA Proposes Revisions to Field of Membership Manual
The NCUA is proposing a revision to the chartering and field of membership rules addressing associations formed for the express purpose of expanding membership without meeting NCUA requirements. Retention of automatic qualification for certain categories of groups that NCUA has approved in the past are retained. [5/1]
- Stress Testing for the Biggest Credit Unions Goes Final
The NCUA issued its final rule requiring federally insured credit unions with assets of $10 billion or more to develop and maintain capital plans. The rule also provides for annual stress tests of those credit unions. Importance of understanding requirements and taking appropriate actions to implement for the other 99.6% of CUs is evident. [4/30]
- Senate Banking Committee Approves McWatters Nomination
The Senate Banking Committee voted yesterday to move the nomination of Mark McWatters for a seat on the NCUA Board to the full Senate for a final vote. The Committee also approved the nominations of three individuals to the Federal Reserve Board. [4/30]
- Congress Is Back in Session: Whatâs on the Agenda for Credit Unions?
The Senate Banking Committee is scheduled to markup a housing finance bill that would ensure credit unions have continued access to secondary markets. The Committee is also scheduled to vote on the McWatters nomination to the NCUA Board. The Senate Judiciary Committee is scheduled to vote on the Patent Transparency and Improvements Act that would protect credit unions from âpatent trolls.â [4/28]
