NCUA to Accept Streamlined Applications for CDFI Certification

NCUA to Accept Streamlined Applications for CDFI Certification

Low-income, federally insured credit unions that wish to be certified as Community Development Financial Institutions may apply for the NCUA’s streamlined qualification process between Sept. 12 and Oct. 15, agency officials announced.

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CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

CU Trades: NCUA is Too Picky in Anti-Money Laundering Exams

NCUA examiners are too picky in their Anti-Money Laundering/Bank Secrecy Act enforcement and are citing financial institutions for small technical violations, NAFCU and CUNA have told the agency, reports David Baumann of the Washington CU Daily.

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DOJ Endorses Interchange Rule that Credit Unions Hate

DOJ Endorses Interchange Rule that Credit Unions Hate

The Justice Department this week threw its support behind the Fed’s proposed rule that would require financial institutions to give merchants a choice of debit card networks for online transactions and other purchases when consumers do not physically present their debit cards, reports David Baumann of the Washington Credit Union Daily.

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Biden to Nominate Harper for Full Term on NCUA Board

Biden to Nominate Harper for Full Term on NCUA Board

President Biden has announced his intention to nominate National Credit Union Administration Chairman Todd Harper to serve a full term on the agency board, reports David Baumann of the Washington Credit Union Daily.

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House Panel Approves Bill to Require Regulators to Focus on Charter Simplification

House Panel Approves Bill to Require Regulators to Focus on Charter Simplification

The House Financial Services Committee approved H.R. 4590, which would require federal financial regulators to develop a strategic plan to encourage the chartering of new credit unions and banks, reports David Baumann of the Washington Credit Union Daily.

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NCUA Board Agrees to Solicit Comments on Capital Adequacy Changes

NCUA Board Agrees to Solicit Comments on Capital Adequacy Changes

The NCUA board agreed to solicit comments on a proposed rule that would amend the agency’s capital adequacy regulation governing credit unions with assets over $500 million, among other decisions at its July meeting, reports David Baumann of the Washington Credit Union Daily.

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NCUA Board to Consider Strategic Plan

NCUA Board to Consider Strategic Plan

Among other issues, the NCUA board will consider the agency’s 2022-2026 Strategic Plan at its July 22 meeting, reports David Baumann of the Washington Credit Union Daily.

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CUNA Committee: Small Credit Unions Face Daunting Challenges

CUNA Committee: Small Credit Unions Face Daunting Challenges

Small credit unions play a vital role in the credit union community, but they face daunting challenges that larger institutions find easier to conquer, the Credit Union National Association said in a new report, reports David Baumann of the Washington CU Daily.

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NCUA to Distribute $865.5 Million as Part of Corporate Resolution Process

NCUA to Distribute $865.5 Million as Part of Corporate Resolution Process

The NCUA will distribute $865.5 million to 1,800 capital account holders that helped bail out corporate credit unions following the 2008 financial crisis, reports David Baumann of the Washington Credit Union Daily.

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NCUA Board Approves Plan to Keep Current 18% Interest Rate Ceiling

NCUA Board Approves Plan to Keep Current 18% Interest Rate Ceiling

At the June board meeting of the NCUA, the board voted on the interest rate ceiling for credit unions, adopted a final rule on capitalization of interest, and adopted a final rule to ease the impact of the Current Expected Credit Losses standard, reports David Baumann of the Washington Credit Union Daily.

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