Advocacy News
CUNA-League System Reaffirms Support for Revised FOM Rule Despite ABA Challenge
The suit challenges the NCUA’s authority to interpret and issue rulemakings on field of membership broadly granted by Congress in the late-90s.
Anthem
NCUA OK’s Revised Field of Membership Rule & Issues Second Proposal
Praised by Your Association, it is a long-advocated effort for regulatory relief for credit unions.
Sound CU CEO Richard Brandsma Looks Back
Sound Credit Union President & CEO Richard Brandsma retires after nearly four decades of strong, principled leadership with the Credit Union Movement. Anthem talked to him about his beginnings, challenges, and how he almost chose a career as a tax collector with the IRS.
Metsger Addressed Oregon Credit Union Advocates
NCUA Vice Chair Rick Metsger isn’t fazed by bank lobby claims the regulator is overstepping its authority. Metsger said “90 percent” of regulatory changes credit unions want to better serve their members, NCUA can provide.
Compliance Center: NCUA Releases Exam Priorities for 2016
The National Credit Union Administration recently released a letter highlighting their supervisory priorities for 2016; plus your question on IRS forms answered, and this week’s legal briefs.
Field of Membership Rule to be Unveiled Thursday
The proposal is expected to overhaul the current regulations, giving federally chartered credit unions flexibility to add to their fields of memberships, and giving more consumers the choice to join a not-for-profit, cooperative credit union.
CUNA Sends Field of Membership Reform Recommendations to NCUA
In an important letter to the NCUA, CUNA laid out detailed recommendations for the reform of field of membership requirements.
NCUA Approves Field of Membership Changes and More
The NCUA Board approved five items at Thursday’s board meeting, including a final rule expanding automatic approval for associational groups’ membership in federal credit unions.
Compliance Center: NCUA Priorities, 1099s, and More
Regulator to focus on cyber security, interest rate risk, among other priorities; question on mailing 1099 forms answered; plus legal briefs.
St. Helens Community Federal Credit Union Expands into Clatsop, Cowlitz Counties
Anyone who lives or works in northwest Oregon’s Clatsop County or southwest Washington’s Cowlitz County is now eligible for membership in St. Helens Community Federal Credit after the credit union received approval to expand its field of membership.
NCUA Releases 2014 Exam Focus
The National Credit Union Administration has released Letter to Credit Unions 14-CU-02, which covers the focus topics for 2014 examinations.
Compliance Question of the Week
Who should we call when the credit union receives counterfeit money?
Key Drafter of Dodd-Frank: Act Will Level Playing Field
Michael Barr, a former Treasury staff who helped to draft the Dodd-Frank Act, will speak at this year’s Convention about the effect of the new law and other legislative overhauls that will change the financial system.
DCBS Finalizes Rules on Community Charter Field of Membership
At the end of 2010, the department issued the final rule on SB 438, which was passed in 2009, clarifying regulations around field of membership.