Misinformation on disaster loan deferments

In the aftermath of Hurricane Michael, misconceptions and misinformation are being disseminated. One of those credit unions are experiencing is that members are being told that according to FEMA, they get a three-month deferment on loan payments due to the natural disaster. In fact, each credit union can establish its own stance on how to […]

Final Risk-Based Capital Rule on NCUA’s Oct. 18 meeting agenda

The NCUA board will vote on finalizing changes to its risk-based capital at its Oct. 18 meeting, according to the agenda released by the agency Thursday. CUNA supports the proposal, but has expressed numerous concerns about the agency’s RBC approach in general. “NCUA should be commended for its work on this proposal, particularly Chairman McWatters, who opposed […]

InfoSight Spotlight: Regulators support BSA/AML resource sharing

The federal depository institutions regulators and FinCEN recently issued a joint statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively. Collaborative arrangements as described in the statement generally are […]

Supervisory practices regarding FIs affected by Michael

The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators recognize the serious impact of Hurricane Michael on the customers, members, and operations of many financial institutions and will provide appropriate regulatory assistance to […]

NCUA webinar: Community charter applications

Credit unions can get valuable information about using a “well-defined local community” field-of-membership narrative for community charter applications on an Oct. 24 webinar hosted by the National Credit Union Administration. Online registration is now open. Participants will use this link to log into the webinar and to view it on mobile devices, and they should allow […]

Comments on NCUA budget due Oct. 26

The National Credit Union Administration’s proposed 2019-2020 budget is available for review and comment. “The NCUA remains committed to a fully transparent and accountable budget process,” NCUA Board Chairman J. Mark McWatters said. “We appreciate thoughtful, specific suggestions from stakeholders on making the most efficient and effective use of the resources credit unions provide. While […]