Links in “NCUA”
- NCUA Reports Positive Trends for Nationâs Credit Unions
NCUAâs third quarter report shows increases in loans, membership and net worth for the nationâs 6,620 federally-insured credit unions. In particular, total loans grew by 2.9% causing NCUA Chair Debbie Matz to again caution credit unions to plan appropriately for interest rate risk. [12/3]
- NCUA November Administrative Orders Issued with Bonus
NCUA issues 3 administrative orders related to former credit union employees and provides new tool for searching for Administrative Orders. See this. [12/2]
- NCUA Free Webinar Addresses Succession Planning
NCUA is hosting a free webinar on Tuesday, Dec. 17 at 2:00 pm EST on succession planning. Industry experts and a credit union manager will discuss a number of scenarios, including emergency CEO succession and the advancement or dismissal of key personnel. Registration can be done on the NCUA website here. [11/27]
- NCUA Issues Letter to Credit Union Summarizing CUSO Regulation Changes
Here are the recent changes to the CUSO rule, in a table format, via NCUA's letter 13-CU-13. The changes expand many existing provisions to state-chartered, federally insured credit unions, as well as create new reporting requirements for all CUSOs. The changes take effect on June 30, 2104. [11/26]
- Recap of Newly Approved CUSO Rule
National Credit Union Administration took several actions during its board meeting last week, including approval of the final Credit Union Service Organization rule. Here is an overview of the new rule. [11/25]
- New NCUA YouTube on SCRA
NCUA's latest installment in consumer protection focuses on SCRA elements for servicemembers and veterans. [11/25]
- NCUA November Board Meeting Produces Final CUSO Rule and Announcement on 2014 Corporate Credit Union Assessment
The NCUA Board approved changes to the CUSO Rule that will require all CUSOs to report certain information to NCUA and state regulators. CUSOs that offer more complex or higher-risk services, such as credit and lending, IT, and custody, safe-keeping and investment management services, will be required to report more detailed information, including providing financial statements ad general customer information. In addition, the Board announced that, due to recent legal settlements, it does not anticipate a corporate credit union assessment for 2014. [11/22]
- NCUA Files Additional Suit in St. Paul Croatian FCU Collapse
NCUA files lawsuit seeking a $6.9 million judgment against two more individuals involved in embezzling funds from St. Paul Croatian FCU. The defendant and his wife allegedly set up six businesses in order to obtain fraudulent loans from the credit union. The defendant also paid $20,000 in kickbacks to the former CEO, who is now serving a 14-year sentence in a federal prison. [11/22]
- Credit Union Looted Before Managerâs Suicide
NCUA has filed a civil complaint against the estate of John Dupree, Jr., the former manager of the $2.4 million Shiloh of Alexandra FCU, and his former fiancé. The complaint alleges that the pair embezzled about $10 million dollars from the small credit union to pay for âsinful thingsâ as stated in Mr. DuPreeâs suicide note. [11/21]
- JPMC Settles with Regulators to the Tune of $13 Large
The $13 billion total settlement over faulty mortgage-backed securities nets NCUA $1.4 billion and FDIC $515 million and others tidy sums. Litigation remains pending against many others. [11/20]
