Emerging Leaders: Assessing, Applying and Wrapping Up

This is the third installment of guest blogger Jennifer Smith from Maps Credit Union, as she finishes the Emerging Leaders program.

DFI Issues Request for Comments on Semi-Annual Assessment Fee Collection

Credit unions are encouraged to file comments before the October 14 cutoff regarding the proposed changes, as well as other questions or concerns about assessments.

NCUA: No Stabilization Fund Assessments in the Foreseeable Future

Careful management and improving economy have driven assessment projections into the negative, says Matz.

Emerging Leaders, Session 3: Truly Effective Leaders Seek out the Assessments of Others

Jeremy Sankwich reports on the third Emerging Leaders session: Assessments grounded in tangible examples help leaders grow.

Northwest Credit Unions Cheer News of No Stabilization Fund Assessment

Northwest credit unions cheered the news this week that there will be no Corporate Stabilization Fund assessment in 2014, saying the decision by the National Credit Union Administration “demonstrates the resiliency of the credit union system.”

‘Inside Exchange’: NCUA Chair Debbie Matz Talks About Corporate Assessments, Stress Testing & More

NCUA Chair Debbie Matz talks about the anticipated range of corporate assessments, a new stress-testing proposal and a variety of other key topics in the first of a two-part video interview for CUNA’s “Inside Exchange.”

Legal Briefs

Your weekly update on the regulatory landscape.

NCUA Reduces Budget, Establishes Stabilization Fund Assessments

The NCUA cut its 2013 operating budget by $2.6 million—the fourth mid-year budget decrease the agency has approved. The board also set the Stabilization Fund assessment at 8.0 basis points.

NCUA Forecasts Little to No Increase in Premiums and Assessments for 2013

The NCUA estimates that the 2013 NCUSIF premium will be between 0-5 basis points, and the stabilization fund assessment will remain between 8-11 basis points, showing “the improving strength of the credit union system.”

Term on 10 BP Corporate Stabilization Reduced by One Year, According to New Estimate

On the heels of a data interpretation indicating credit unions could be paying 10 basis points on $5.3 billion corporate stabilization for up to six years, new estimates have reduced the term by one year and lowered the rate by nearly $1 billion.

Credit Unions Could Pay 10 BP for Next Six Years for Corporate Stabilization

On the heels of a recent audit, CUNA’s Bill Hampel suggests that in order for credit unions to pay back the remaining $5.2 billion in corporate stabilization funds, the industry could be paying 10bp for the next six years.

Umpqua Bank Sued for Overdraft Fee Assessments

A lawsuit filed this week alleges that Umpqua Bank used unfair practices to assess overdraft fees, giving credit unions cause to take a second look at their own fee assessment procedures.

NCUA Reaches Settlement in Lawsuits Against Citigroup, Deutsche Bank Securities

The NCUA reached separate settlements this week with Citigroup and Deutsche Bank Securities regarding the sale of residential mortgage-backed securities to five wholesale credit unions. Net proceeds will go toward reducing assessments charged to credit unions to pay for the losses.

NCUA Approves Corporate Stabilization Fund Assessment

The NCUA Board approved the Temporary Credit Union Stabilization Fund at 25 basis points, an assessment estimated to total nearly $2 billion.

Compliance Update: NCUA won’t Launch Corporate Assessment Prepay Plan

The proposed plan for credit unions to prepay assessments for failed Corporate credit unions did not attract enough industry support. The National Credit Union Administration will not proceed in 2011.

Legal Briefs

Your update on the regulatory landscape.

NCUA Clarifies Plan for Voluntary Prepaid Assessments

In a teleconference last week, the NCUA made two key clarifications about its voluntary Corporate Stabilization prepayment program, which is currently out for comment.

Legal Briefs

Your update on the regulatory landscape.