Links in “NCUA”

The prevailing opinion, according to a recent NAFCU survey and as reported in this month’s Economic and CU Monitor, is “not really.” The survey results show that only 25% of the respondents said that the exam process had improved, while 12% of the respondents felt that things were worse. [9/13]

September issue of the NCUA Report includes the first column by new board member, Rick Metsger, as well as articles on the new mortgage rules and understanding the enterprise risk management process. [9/12]

Articles include new mortgage rules, understanding ERM, and FAQ+. [9/11]

North Dade FCU ordered to implement corrective BSA/AML actions. Key road map for every high-risk CU in BSA provided. [9/10]

The report shows strong membership and loan growth for the year ending June 2013. Idaho and Oklahoma led in loan growth, while Idaho and California had the strongest membership growth. See how your state fared in these and other key areas. [9/6]

ROA steady, delinquency down with asset growth slowing, but still rising 4.8%. [9/6]

The NCUA's letter should prompt federal credit unions to do two things: 1) review their advertising practices, and 2) take a closer look at the requirements for associational common bonds, which are recounted in this post. [9/6]

In light of the NCUA's recent letter cracking down on "open membership," website publishes list of CUs that are open to anyone for those consumers seeking to get in before the back door closes. [9/5]

NCUA letter to credit unions warn against overly aggressive advertising campaigns that advertise membership is "open to anyone," including those that include first joining a particular association. [9/5]

On the heels of a recent appellate court victory, NCUA has initiated a lawsuit against Morgan Stanley and other firms for selling faulty mortgage-backed securities to WesCorp, U.S. Central and other corporate credit unions; NCUA is seeking to recover approximately $566 million for violations of federal and state securities laws. [9/3]