NCUA changes Call Report deadlines giving CUs more time

Beginning with the Dec. 31, 2016, reporting cycle, federally insured, natural-person credit unions will have until the final Sunday of the month following the end of the quarter to file Call Reports, the National Credit Union Administration announced last week. Credit unions will now have, on average, an additional seven days to file Call Reports. […]

League Sources Reveal NCUA Board Changes for 2017

League sources have provided some insight on items of interest from today’s NCUA  Board meeting for 2017: There will be a $1 million decrease in the overall budget. The NCUA will institute an 18-month exam cycle for credit unions below $1 billion in assets that carry a CAMEL 1 or 2 rating.  The other exam […]

NCUA chair responds to letter on how CUs serve members, businesses

According to League sources, two GOP members of Congress, Rep. Jeff Flake and Rep. Blaine Luetkemeyer, wrote a letter to the NCUA in mid-October about policies affecting how credit unions may serve certain members and businesses. This relates directly to the “Operation Choke Point” controversy that involved the United States Department of Justice and FDIC-insured […]

CFPB releases final rule for Regulation E and Z impacting prepaid industry

According to League sources, on Oct. 5, the Consumer Financial Protection Bureau released a final rule for prepaid accounts under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z). The 1,700-page rule establishes broad consumer protections that impact all aspects of the prepaid industry.The rule, which generally becomes effective on […]

CUACG provides protection in wake of Wells Fargo scandal

Sen. Richard Shelby, R-AL, chairman of the Senate Banking Committee, decided Monday to hold committee hearings to determine from Wells Fargo how more than 2 million credit card and bank accounts were opened in the names of customers. Since 2011, Wells Fargo employees have set up credit cards without customers’ consent resulting in fines of […]