Links in “NCUA”

Mark McWatters, a member of the TARP Congressional Oversight Panel and President Obama’s choice for the NCUA Board, endorsed reducing the tax and regulatory burden on financial institutions and small businesses as a means to encourage economic recovery. On the other hand, McWatters opposed the creation of the Small Business Lending Fund stating that providing financial institutions with below-market capital could encourage poor lending practices. [1/7]

James spent 34 years with NCUA, during which time she worked her way up from a temporary technician to a series of executive positions. Most recently as the Director of the Office of Minority and Women Inclusion, James focused on diversity, civil rights, and the hiring of more women and minorities. Linda Dent, NCUA’s Associate General Counsel for Administrative Law, will take over as Acting OMWI Director until a permanent director is named. [1/6]

NCUA has issued Regulatory Alert 14-RA-01 to provide further guidance in complying with the upcoming Ability-to-Repay/Qualified Mortgage Rule. In the Guidance, NCUA points out that since the underwriting criteria required under the ATR/QM Rule is broader than the requirements under Part 701 of the NCUA Rules and Regulations and most state rules, that compliance with the ATR/QM rule should ensure compliance with Part 701.  However, compliance with Part 701 may not ensure compliance with the ATR/QM Rule. [1/3]

NASCUS requests NCUA to refine capital and stress testing practices by increasing covered CUs from $10 to $50 billion (Navy FCU), treat results as confidential and allow state regulator involvement. [1/2]

Carrie Hunt, Vice President of Government Affairs and General Counsel for NAFCU, submitted a comment letter to NCUA in which she urges the Agency not impose stress testing on credit unions with assets of more than $10 billion. Hunt states that the requirement would have little beneficial impact and would set a dangerous precedent in dividing the credit union industry in this manner. [12/31]

NCUA video speaks to positives regarding economic growth potential, but notes need for vigilant efforts to protect against interest rate risk as CUs reach for yield at the expense of potential future risk. [12/31]

Mark your calendars.  NCUA is hosting a free webinar on Wednesday, January 15^th, at 2:00 pm EST.  The webinar entitled “Strategic Uses of the Low-Income Designation” will draw on the experiences of industry leaders in developing unique products to serve this market. [12/26]

NCUA has released a new video that addresses fourth quarter credit union economic trends.  While the data reflects a stronger economy, the video also draws attention to the agency’s concerns about interest rate risk. The video can be viewed at https://www.youtube.com/user/NCUAchannel. [12/23]

The rule, approved by NCUA Board late last week, provides new ways in which CUs may use their pre-approved investment powers to support charitable donations and contributions to the community. [12/23]

Chip Filson of Callahan and Associates in a recent blog post takes NCUA to task for its inability to use current resources in an effective manner. Filson cites numerous examples of how the information required about CUSOs under the new rule has been readily available to the agency for years.  Filson also notes the lack of supporting data for the CUSO rule expansion, as well as other recent actions by the NCUA Board. [12/20]