Links in “NCUA”

NCUA and the other federal regulators have issued a statement that creditors offering only qualified mortgages will not be in violation of the Equal Credit Opportunity Act and Regulation B. The statement was issued in response to creditor concerns that limiting loan offerings to just qualified mortgages could violate the disparate impact doctrine. [10/23]

Key topics include new mortgage rules' impending impact, risk mitigation needs and CAMELS ratings. [10/22]

26-year veteran of NCUA D. Scott Neat will take over role of Director of Supervision on November 3, 2013 as Matthew Biliouris, former DOS takes on Deputy Director of the NCUA’s Office of Consumer Protection in July. [10/21]

The NCUA Board at its October meeting on Oct. 24 will consider stress test requirements for federally insured credit unions with assets in excess of $10 billion and whether the results of those tests should be made public. In addition, the Board will also be evaluating a final rule on liquidity contingency plans. [10/18]

NCUA promotes new video highlighting training programs available to small and low-income credit unions. Courses offered are designed to strengthen small credit unions to better serve their members and communities. [10/16]

New NCUA Board member Richard Metsger said that the relationship between NCUA and the credit unions it regulates should be cooperative, even though the parties may come to an issue from different perspectives. He added that the agency is focused on ensuring that credit unions are sufficiently capitalized, are protected from interest rate and concentration risks, and have effective safeguards in place to protect against cyber attacks. [10/16]

Bill Cheney, President/CEO of CUNA, says that NCUA’s announced improvements to the examination process are a positive sign. He believes that the changes to the Document of Resolution (DOR) will provide clarity and will result in a better process to address serious examination findings. [10/15]

NCUA Letter No. 13-CU-09 advises credit unions about changes affecting Documents of Resolution (DORs) and examination reports, which will now be separate documents in order for credit unions to differentiate between minor and major concerns. Issues identified on the DOR will be accompanied by the examiner’s concern, support documentation and the agreed-upon corrective action plan. [10/9]

The NCUA Inspector General says that the $76.5 million loss to the share insurance fund was the result of poor management of the credit union’s member business loan portfolio as well as a weak response on the part of examiners to a series of red flags. [10/7]

The federal government shutdown will not affect NCUA. As a self-funded agency, NCUA does not rely on appropriations from Congress to fund its operations. The agency is urging credit union with members affected by the shutdown to look for ways to assist members with their financial needs. [10/1]