Links in “NCUA”

The now 2,002 low-income credit unions have nearly 20 million members and $176 billion in assets and are designated by meeting certain benchmarks. Benefits of designation are significant. [12/20]

President Obama has announced that he plans to nominate Mark McWatters to the NCUA Board to fill the seat currently held by Michael Fryzel, whose term expired in 2008. McWatters, a Texas tax attorney, is a former TARP panel member and is currently Assistant Dean of Graduate Programs at the Southern Methodist University School of Law. [12/19]

Risk and response are key elements. Risk includes IRR, third-party relationships, cyber security, consolidation, alternative loans, and depository FIs. Key focus for upcoming four years on raising bar of NCUA, protecting members, and safety and soundness. [12/19]

At yesterday’s NCUA Board meeting, action was taken on a number of items, including approval of a final rule on Charitable Donation Accounts (CDAs) that limits the CDA investments to 5% of a credit union’s assets (an increase from the 3% cap set in the proposed rule); approval of a scaled-down budget for the Temporary Corporate Credit Union Stabilization Fund for 2014; a proposed rule concerning home-based credit unions; and approval of a final rule that exempts certain higher-priced mortgages from its Appraisal Rule. [12/13]

NCUA Board goes final for meetings and various actions including rules to allow FCUs to invest in hybrid accounts to fund charitable causes under certain conditions as well as a reduced budget for 2014. Proposal on examiner safety, member access, and privacy at home-based FCUs presented along with update on mortgage rules. [12/13]

The December issue of the NCUA Report highlights the changes to the CUSO rule, confirms NCUA’s expectation that there will not be a corporate stabilization assessment for 2014, and provides NCUA’s plans for implementation of the new mortgage rules. [12/12]

Articles highlight new CUSO rule, guidance on mortgage rules and Chairman Matz' regulatory outlook as well as a NCUA version of "'Twas the Night before Christmas." [12/12]

NCUA has issued Supervisory Letter 13-CU-15 to provide guidance to its field staff about examining private student loans. The letter identifies the benefits of private student loans and also identifies the risks associated with this specialized type of lending. If you offer private student loans or are thinking about offering private student loans, this letter provides valuable insight into how these programs will be reviewed. [12/10]

A look at this aspect of the new rule adopted by the NCUA for credit union service organizations. [12/6]

The final rule to be reviewed at the Dec. 15 board meeting sets the terms for charitable donation accounts, including limiting the aggregate investments for charitable donation accounts (CDAs) to 3% of the credit union’s net worth. At least 51% of the total return from the account must be distributed to one or more charities at least once every five years. [12/6]