New statement covers initial information on new FASB accounting standard ASU 2016-13, for estimating allowance for credit losses.
In its third open meeting of the year, the National Credit Union Administration Board approved a more flexible bank notes rule and announced a $302 million net position gain in the Stabilization Fund.
The Northwest Credit Union Association is tracking several bills important to credit unions during Oregon’s Legislative session.
The NCUA announced that they would raise the asset threshold defining “small entities” to $100 million, making hundreds more credit unions eligible for regulatory relief under the Regulatory Flexibility Act.
At its monthly Board meeting, the administration also approved a final rule on capital planning and stress testing, said future Stabilization Fund assessments were unlikely, and revised its 2015 budget down by $1.3 million.
We need to meet the banking lobby’s misinformation campaign head on, says CUNA’s Mike Schenk.
Proposed rule would remove regulatory cap in favor of supervisory oversight and guidance.
Matz says supplemental capital, fields of membership among regulatory relief targets; your question answered about cash advances; plus this week’s legal briefs.
Credit unions of $100 million and under would face reduced regulatory burden under the proposal. Credit union advocates seek higher threshold.
Thirty-one credit unions agree to late filing fines nationally, but none in the Northwest.
The rule would create an unfair advantage for FDIC-insured financial institutions.
Stabilization Fund’s first positive position due mainly to projected cash flows, will not trigger refunds, says NCUA.
The NCUA approved a proposed rule giving regulatory relief and greater flexibility to managing fixed assets to federal credit unions. Another headline: No Stabilization Fund assessment this year.
NCUA Director Rick Metsger, a native Oregonian, returns to the Northwest on October 7, to address the Northwest Credit Union Association’s Amplify Convention and Annual Business Meeting in Spokane. Now one year into his regulatory role, Metsger shares his perspective with Anthem.
The latest from the NCUA following the June board meeting, the week’s legal briefs and the “question of the week”.
An article in the Wall Street Journal is drawing fire within the credit union movement. The publication quoted NCUA Chair Debbie Matz sharing concerns about credit unions’ interest rate risk management.
The boards of Horizon Credit Union and EDTECH Federal Credit Union have voted unanimously to merge, the credit unions announced this morning. If approved by regulators and EDTECH members, the combined credit union would approach $675 million in total assets and employ more than 225 people.
Northwest credit unions continue to trend well, according to an analysis of Q4 financial data by the NWCUA. Asset growth, ROA and net worth are all increasing, while charge-offs and delinquency ratios continue to decline.