NCUA Doubles Down on Budget Needs Citing Fraud
Citing an increase of fraud found during onsite examinations, NCUA Chair Todd Harper continues to argue for the need of in person audits and the budget to go with them.
NCUA’s Spooky Budget Increase Could Be Curbed By Expanding, Not Reducing, Remote Examinations
NCUA proposed a big increase to its operating budget in 2023, and many have come out in opposition. Esteban Camargo provides a little detail on the budget proposal, responses to it, and why the NCUA should reconsider its plans.
Coming to a Credit Union Near You: NCUA Examiners
Tuesday, September 20, Chairman Todd Harper published a letter to federally insured credit unions announcing that the organization would be entering Phase 3 of its onsite operations plan, originally announced back in June 2020 in the midst of the global pandemic, reports Esteban Camargo.
NCUA Trying to Simplify CECL Calculations
The NCUA announced September 14 it has developed a tool that is intended to assist credit unions in complying with the new Current Expected Credit Loss (CECL) rule reports CUCollaborate’s David Baumann.
Cannabis Banking Bills Face Slow Progress and Disappointment
Despite broad bipartisan support and a desperate need for clarity on the issue, cannabis banking bills are making little headway in the Senate. NCUA board member Rodney Hood has doubts they will make any significant progress soon, Emily Claus reports.
Presidents and Credit Unions
Chip Filson shares when the credit union industry captured the attention of two very different U.S. Presidents.
NYC Taxi Drivers Getting Relief from Loans Made by CUs, Others
CUCollaborate: Beleaguered New York City taxi drivers may finally be getting some debt relief from huge taxi medallion loans they took out from financial institutions, including two defunct credit unions reports David Baumann.
NCUA’s Merger Supervision is Failing Members
NCUA is responsible for monitoring mergers, but Chip Filson believes it has become a rubber stamping process for the regulator and the industry is suffering for it.
Credit Union Groups Call on the NCUA for Merger Policy Reform
NAFCU and NASCUS both submitted comments to the NCUA ahead of their August 16th deadline for submissions calling for changes in merger policy and regulatory oversight, Emily Claus reports.
NCUA to Receive Third-Party Oversight with New Bill Introduced
In a move opposed by credit union trade groups, Senators Jon Ossoff, D-GA, Cynthia Lummis, R-WY, and Mark Warner, D-VA, introduced a new bill that would provide NCUA with oversight powers over credit union organizations and service providers, reports CUSO Magazine’s Esteban Camargo.
