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.
When are federally insured credit unions required to include the NCUA sign or statement in advertising and promotional materials? Here’s an explanation from the experts at CSCU.
The National Credit Union Administration Board approved three items at its Oct. 24 meeting: a final rule requiring all federally insured credit unions to plan for liquidity events; a final rule requiring all federally insured credit unions to electronically file Call Report information with NCUA; and a proposed rule requiring annual stress tests at federally insured credit unions with assets exceeding $10 billion.
The Loan Participation Rule issued by the National Credit Union Administration earlier this summer takes effect on Monday, and credit unions will want to make sure they are meeting the requirements of the final rule.
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.
The NCUA approved the Final Rule on Loan Participations during its board meeting Thursday. The NWCUA compliance team breaks down new details on the rule.
WesCorp’s former CEO has been slapped with a prohibition order and a $600,000 fine by the National Credit Union Administration. The move closes another chapter in the corporate failure saga that cost credit unions billions and called into question the regulator’s oversight during the collapse.
At its open board meeting this morning, the NCUA announced that federally insured credit unions will owe 9.5 basis points to fund the 2012 Temporary Corporate Credit Union Stabilization Fund.
The NWCUA generates and monitors regulatory movement and change at the state and federal levels. The weekly Regulatory Advocacy Update keeps you informed about new developments, how the Association is working for its membersâ€”and how you can get involved.
How is it that the NCUA is enforcing the SAFE Act on state chartered credit unions?
Under the agencyâ€™s conservatorship, normal business activity will continue and members of the credit union will have access to the services available to them prior to NCUA taking control of the credit unionâ€™s operations last Friday.
The rule also limits a federally insured credit unionâ€™s ability to provide indemnification.
How is it that the NCUA is enforcing the SAFE Act on state-chartered credit unions?
Corporate Corner is a series of articles that will examine various aspects of the corporate credit union crisis and the NCUAâ€™s plans to resolve the issue and stabilize the industry.