Links in “NASCUS”
- NASCUS Urges Comments on NCUA’s OTR
NASCUS' (National Association of State Credit Union Supervisors) President and CEO Lucy Ito is featured in the association's video that urges state regulators and credit unions to comment on the NCUA's Overhead Transfer Rate (OTR) that is used to cover the federal agencies costs. The video urges comments noting that the "NCUA should not have carte blance in spending credit union system dollars." [2/17/16]
- NASCUS Cries Foul over NCUA Practices
The National Association of State Credit Union Supervisors or NASCUS, which oversees non-federal credit unions, is taking its federal counterpart, the NCUA, to task regarding NASCUS identified NCUA practices of shifting financial burden to NASCUS members via the overhead transfer rate or OTR. [2/5/16]
- Former CUNA Counsel Joins NASCUS
The National Association of State Credit Union Supervisors has named Nichole Seabron as its new VP and regulatory counsel. Prior to joining NASCUS, she was an advisor to FEMA and compliance counsel to the Credit Union National Association. [12/22/15]
- A Penny for Your Thoughts?
NASCUS supports NCUAâs proposed member business lending rule⦠with a few modifications. NASCUS made several recommendations to the NCUA regarding this rule, some of the recommendations included requiring a written commercial loan policy from all credit unions and recognition of privately insured credit unions. [9/10/15]
- Securing Your Cybersecurity
The NASCUS/CUNA Cybersecurity Symposium has come to a close and was a big hit with key discussions regarding the new FFIEC cybersecurity tool, vital points about data breaches, and vulnerabilities in the evolving payment system. [8/27/15]
- Cybersecurity: How Would You Steal from Your Credit Union?
Regularly ask "How would I steal money from this credit union?" That's one of five key actions credit unions should take to bolster their cybersecurity, according to this presentation at the CUNA/NASCUS symposium. [8/25/15]
- McWatters, NCUA Weigh In On OTR Transparency
The NCUA says that it has posted over 20 documents concerning its OTR methodology on its website and that the documents it has refused to provide to NASCUS are internal memos between the General Counselâs office and the Board. NCUA Board member Mark McWatters agrees with NASCUS that these documents should be made public and that the OTR process should be subject to public comment. [8/12/15]
- NCUA Says Nope to NASCUS OTR Request
According to NCUA, the methodology it uses to calculate the overhead transfer rate (OTR) is âattorney work productâ and, therefore, is privileged, confidential and exempt from the Freedom of Information Act. At least, thatâs what NCUA General Counsel Mike McKenna said to a request from NASCUS for all documents relative to the OTR. [8/11/15]
- NASCUS Calls For Scrutiny of OTR Docs
NASCUS President/CEO Lucy Ito wants to know why the NCUA never made public a section of a 2011 Price Waterhouse report that recommended that the Agency consider feedback from stakeholders on how it classifies its insurance related and operational activities for the purpose of determining the overhead transfer rate (OTR). The NCUA posted its OTR documentation on its website last Friday. [7/28/15]
- NASCUS Presses Senate for Federal Support of Marijuana Banking
State Regulators are clamoring for the Senate to pass legislation giving marijuana businesses access to the national banking system. In a letter to the Senate, the NASCUS claims there is too much ambiguity around serving these types of businesses due to the dichotomy of Federal and State laws concerning the legality of marijuana. [7/15/15]
