Facts vs. Fictions: the NCUSIF Financial Model Works—Even When Mismanaged
Chip Filson compares the NCUSIF’s projected net operating loss against the actual data and discusses potential ramifications for the variance in these numbers.
NCUA Board Sets NOL at 1.33%, Adopts Compromise Budget
The NCUA board agreed to a compromise budget that will return $15 million to credit unions next year and set the agency’s normal operating level at 1.33% for 2022, reports David Baumann of the Washington Credit Union Daily. The NCUA board also made decisions on final rules for the capital adequacy regulation and mortgage servicing rights.
NCUA Reg Agenda: Bank Purchases, Overdrafts
During the next six months the National Credit Union Administration board may issue final rules governing overdrafts and the purchase of a bank by a credit union, the agency said in its Fall regulatory agenda.
NCUA Board Asks Congress to Make CLF Changes Permanent
The National Credit Union Administration board is asking Congress to make permanent the pandemic-related changes to the agency’s Central Liquidity Facility, reports David Baumann of the Washington Credit Union Daily.
Taxi Medallions in the American Cooperative System
The role of ownership has always been a core aspect of the cooperative model. But if that’s the case, why did the NCUA undermine the right of ownership in the NYC taxi medallion issue? Chip Filson contemplates the ramifications of this choice.
Community Coalition Joins Banks in Blasting Credit Unions
The National Community Reinvestment Coalition joined the American Bankers Association and the Independent Community Bankers of America in telling Congress that credit unions are not fulfilling their mission and are not sufficiently accountable to the communities they serve, reports David Baumann of the Washington Credit Union Daily.
Financial Service Committee to Consider CU Member Expulsion Bill
The House Financial Services Committee on Tuesday will consider legislation that would make it easier for credit unions to expel members who pose a threat or engage in dangerous or illegal conduct, reports David Baumann of the Washington Credit Union Daily.
Credit Unions Want Quick Guidance on Digital Assets
Many credit unions appear to be anxious for the National Credit Union Administration to issue guidance about how they may host a digital wallet and use other new technology to provide new services to their members, reports David Baumann of the Washington Credit Union Daily.
Harper Endorses Report Identifying Climate Change as Systemic Risk
Federal financial regulators, including NCUA Chairman Todd Harper, endorsed a plan to ensure that agency rules and policies address the risks of climate change, reports David Baumann of the Washington Credit Union Daily.
What Harper Got Wrong with the CUSO Rule Vote
Vic Pantea shares his thoughts on the recent CUSO rule approved by the NCUA board, and why Harper got the vote wrong.
