Time’s Up: Comments on Risk-Based Capital Proposal Must Reach NCUA by Wednesday

Credit unions have until May 28 to comment on the NCUA’s Risk-Based Capital proposal, and those who can’t submit their own letters still have time to add their names to the NWCUA’s strongly worded missive.

Last-Minute Application Turns into NCUA Grant for Cutting Edge Credit Union

It only took Cutting Edge Federal Credit Union 90 minutes to get its low-income designation and another 10 minutes to apply for an NCUA grant. A month later, the credit union was awarded $2,500 to help it apply for CDFI certification and gain access to more resources that it can use to help members and the community.

Deadline Extended for Credit Unions to Complete Regulatory Exam Survey

CUNA and the Northwest Credit Union Association are calling on credit unions to complete the second-annual Comprehensive Survey on Regulatory Exams, saying a strong response rate will give advocates the data they need to push for improvements in the examination process.

Washington DFI Accepting Comments on Rule Regulating the Frequency of Board Meetings

As it nears the end of the rulemaking process for director compensation, Washington’s Department of Financial Institutions has begun accepting comments on the next order of business: regulating the frequency of board meetings.

Panels, Speakers Offer A Glimpse At What’s On the Regulatory Horizon

If you thought that the Northwest Credit Union Association’s annual Amplify Convention was a chance for credit unions to take a break from thinking about regulations, well, think again. Three educational breakout sessions and a keynote address by NCUA Chair Debbie Matz drew standing-room-only crowds at the three-day gathering in Portland.

Northwest Credit Unions Receive Grants from the NCUA

Six Northwest credit unions will be able to expand services, offer new loan products and provide educational opportunities thanks to grants awarded by the NCUA.

Credit Unions: CFPB QM Rule Will Make it Harder for Americans to Buy Homes

Northwest credit union lenders are concerned the CFPB’s Qualified Mortgage Rule will have the unintended consequence of squeezing Americans out of home ownership. The House Financial Services Subcommittee on Financial Institutions heard testimony from the credit union movement this week.

Filene Study to Quantify Impact of Regulatory Burden; Northwest Response Wanted

The Filene Research Institute is gathering information about the impact of the regulatory burden on credit unions. The survey will help to identify the most burdensome regulations and the time credit unions spend in compliance.

NWCUA and Northwest Credit Unions Amplify Regulatory Concerns Nationally

Northwest credit unions are increasingly becoming a force to be reckoned with on the regulatory scene, as evidenced by recent input to the CFPB. Regulatory advocacy by and on behalf of credit unions is growing the region’s influence nationally.

Northwest Credit Unions Meet with Matz, Fazio, CFPB Leadership

The Spring Hike the Hill brought dual value to Northwest Credit Union leaders. They met face-to-face with federal legislators as reported earlier, and had high-level dialogue with top regulators at the NCUA and CFPB.

Washington Regulator Begins Rule Work on Credit Union Act

With the updated Washington Credit Union Act scheduled to take effect July 28, the next step is for the state regulators to establish a work plan and define the rules for certain provisions in the law. One key priority is defining “reasonable” director compensation. That process moves forward June 20.

Public Funds Collateralization Pool Generating New Interest in Oregon

Beginning April 1, all of Oregon’s public entities—including city governments, schools and fire departments, among many others—will be able to deposit money in their local credit unions.

Washington DFI Issues Two Regulatory Interpretations, More Expected

The Washington DFI offered clarification on regulations related to use of the terms “audit committee” and “supervisory committee” and to credit unions’ investment options for funding employee benefit obligations. An additional interpretive response is anticipated soon as well.

CFPB’s Chow to Discuss Regulations, Hear Feedback from Northwest Credit Unions

Before the ink has even dried on the CFPB’s rules implementing Dodd-Frank mortgage requirements, Northwest credit unions will have the opportunity for face-to-face dialogue with Edwin Chow, the agency’s regional director, through an exclusive discussion session on Feb. 4.

Steady Stream of Mortgage Servicing Rules Continues from CFPB

As expected, the CFPB released another final mortgage servicing rule today, following the three issued last week and this week’s multi-agency rule on appraisals for higher-priced mortgages. Two additional rules related to mortgage appraisal and mortgage loan originators are expected by Jan. 21.

CFPB Issues Semiannual Regulatory Agenda, Mortgage Lending Changes Anticipated

The CFPB issued its semiannual regulatory agenda today and as soon as tomorrow is expected to begin issuing final rules that will impact mortgage lending, including changes to loan originator compensation, disclosures and more.

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.”

Oregon Public Funds Program Giving Credit Unions New Platform

As the state of Oregon develops the back end of a new credit unions Public Funds Collateral Program, the industry readies for changes with the formation of a workgroup.