NCUA Extends Temporary Interest Rate Ceiling for Federal Credit Unions
The NCUA board voted in July to extend the 18 percent interest rate ceiling through May 2026. CUSO Magazine’s Esteban Camargo reports.
America’s Credit Unions Calls On NCUA to Make Significant Changes During EGRPRA Review
In response to the NCUA’s call for comments regarding its voluntary regulatory review, America’s Credit Unions has submitted a letter calling for large changes including expanding field of membership and raising interest rate caps.
Are Credit Union Members “American Idiots”?
Chip Filson ponders if credit unions have a low opinion of their members, as he reviews a recent case of a non-essential merger (in which executives were bonused hundreds of thousands of dollars) and the members who tried to stop it.
Threats to Coop Democracy
Chip Filson contemplates threats to cooperative democracy that start internally, namely, with the NCUA.
NCUA Board Approves Proposed Rules and FCU Loan Interest Rate Ceiling
Last week at a meeting of the NCUA Board of Directors, the members voted 2-1 in favor of two proposed rules: one on incentive-based compensation and another a revised proposal on succession planning. The incentive-based compensation rule addresses requirements laid out in the Dodd-Frank Wall Street Reform and Consumer Protection...
All NCUA Board Members Give Remarks at Annual DEI Summit
NCUA Chairman Todd M. Harper, Vice Chairman Kyle Hauptman, and Board Member Tanya Otsuka all provided remarks on Diversity, Equity, and Inclusion at the NCUA’s recent DEI Summit, Emily Claus reports.
Credit Unions Behind on CDRLF Grant Applications Now Have Until July 12
On July 8, the National Credit Union Administration announced that it has extended the deadline for applying for the 2024 Community Development Revolving Loan Fund (CDRLF). Interested and eligible credit unions now have until July 12 to submit their application. CUSO Magazine’s Esteban Camargo reports.
NCUA Releases Annual Cybersecurity and Credit Union System Resilience Report
As the NCUA releases its annual Cybersecurity and Credit Union System Resilience Report to Congress, Emily Claus reports on the main concerns the NCUA is focusing on.
Regulation as a Service
Chip Filson calls for credit union regulation to be separated from the hands of the NCUA and placed back in the hands of experts who can provide it as a service.
Congress Should Not Give NCUA Third Party Oversight Argues NACUSO
Last week, in a letter written to Congress, NACUSO urged Capitol Hill not to grant the NCUA authority over third parties, including credit unions service organizations, reports CUSO Magazine’s Esteban Camargo.
