Links in “NCUA”

The Senate Banking Committee is scheduled to vote today on the nomination of Richard Metsger for the NCUA Board; other monetary policies will be addressed by both House and Senate Committees later this week. [7/16]

Lithuanian Credit Union of Cleveland, Ohio, founded in 1984 and with $24 million in assets, become the 11th CU liquidated in 2013. [7/16]

20+ Year NCUA Veteran Biliouris takes key role in Consumer Protection Division. [7/16]

A district court in Kansas ruled yesterday that NCUA was too late in filing its claim against Barclays; NCUA, which will likely appeal, had sued Barclays over losses from mortgage backed securities it sold to U.S. Central FCU and Western Corporate FCU. [7/11]

NCUA and five other federal regulatory agencies have issued a proposed rule that would exempt from the new appraisal rules higher-priced mortgages that are: $25,000 or less, “streamlined” refinancings, or manufactured home loans; new appraisal rules go into effect January 18, 2014. [7/11]

Military-based CUs may see a drop in loan demand as a result of a once-a-week furlough days for approximately 700,000 DOD employees; NCUA chief economist notes that the affected CUs may also experience an increase in delinquencies. [7/10]

Closure of small CUs in New Orleans and Ohio brings the total number of CU closures for 2013 to 11 (compared to 16 for banks). [7/3]

Guidance on NCUA's new hot topic: Fair Lending examination program. [7/2]

Among the bills 5 points are provisions that would allow NCUA to grant federal credit unions a waiver to follow a state rule instead of a federal one; authorize NCUA to step in to modify a CFPB rule affecting credit unions; and require that NCUA and CFPB revisit cost/benefit analyses of rules after three years so they have a true sense of the compliance costs for credit unions. [7/1]

11 Orders issued by NCUA for June; review of actual Orders make for strong training on Internal Controls and Personnel Ethics. [7/1]