Links in “NCUA”

NCUA will be livestreaming a 90-minute panel discussion entitled “Unique Challenges and Opportunities Servicing Hispanic Credit Union Members” on Dec. 1^st  at 2:00 pm EST. A panel of experts will discuss the opportunities, challenges and strategies for engaging Hispanic members. [11/25/14]

In a report submitted to the House Financial Services Committee on its new RB rule, NCUA outlined its support for allowing healthy, well-managed credit unions to issue supplemental capital that can be counted as net worth. NCUA further stated that it plans to finalize a supplemental capital rule before implementation of the new RBC rule in 2019. [11/24/15]

The NCUA has liquidated the Helping Other People Excel FCU located in Jackson, NJ. The credit union, with $626,529 in assets and 110 members, was recently in the news after it was discovered that two men, who allegedly controlled the credit union, were involved in an unlicensed bitcoin scheme to launder money. [11/23/15]

There is general praise for NCUA’s expansion of the definition of a service facility, but criticism for the Board’s decision not to propose expansion of the population limit for MSAs. Trade association representatives are also critical of the Board’s use of the overhead transfer rate to cover all safety/soundness expenses, the approval of a 2-year budget and the lack of action on moving back to an 18-month exam cycle for low-risk credit unions. [11/20/15]

The NCUA board issued a proposed changes to its FOM rules that would expand the definition of service facility to include transactional websites and mobile platforms that can accept deposits and loan applications and disperse loans.  Currently, a service facility is limited to a branch office or kiosk where these transactions can be conducted. The proposed rule also expands the population limit for rural communities. [11/20/15]

The NCUA Board hasn’t even met yet to consider changes to the FOM rules, but that hasn’t stopped the bankers from going on the offensive over the proposal. Bankers are claiming that the NCUA is planning to make changes that go beyond their authority and require legislative changes. Read NAFCU CEO Dan Berger’s response to legislators about the ABA’s misinformation campaign. [11/19/15]

The Equal Credit Opportunity Act makes it unlawful to discriminate against any applicant on the basis of race, color, religion, national origin, sex or marital status, or age. But what if the common bond is based on one of these prohibited bases? This credit union critic thinks that NCUA should not give such credit unions a free pass when it comes to ECOA. [11/17/15]

If proposed NCUA regulations are approved, credit unions ability to lend to business may receive a boost. [11/16/15]

Credit unions can now use NCUA’s Consumer Assistance portal to receive correspondence from the Consumer Assistance Center about complaints lodged against them, to send response and complaint information, and to check on the status of complaints. Use of the site is voluntary and the site is not open to the public. [11/13/15]

The NCUA announced an upcoming panel discussion on December 1, 2015 aimed at improving CU services to Hispanic members. [11/13/15]