NCUA Board to Consider Final CUSO Rule on October 21
The National Credit Union Administration board on Oct. 21 will consider a final rule governing the permissible activities for Credit Union Service Organizations—an issue that has been a contentious one for board members in the past, reports David Baumann of the Washington Credit Union Daily.
With a Little Help from Our Friends: What Credit Unions Can Do to Prepare for Cannabis Banking Partnerships
As the future of credit unions’ relationship with cannabis businesses lies in the hands of Congress, Stacy Brower details ways for credit unions to prepare for these accounts, should the SAFE Act pass.
CUNA Renews Call to Exempt Credit Unions from CECL
CUNA last week renewed its effort to convince the Financial Accounting Standards Board to amend the controversial Current Expected Credit Losses standard, contending that credit unions should not have to comply with it, reports David Baumann of the Washington Credit Union Daily.
When Leaders Lack Confidence in Their Organization
Chip Filson scrutinizes the NCUA’s new Risk-Based Capital rule and the unsettling realization that these new guidelines may signal from the board a lack of faith in their own organization.
Harper: Exams Demonstrate Need for Consumer Protection Focus
David Baumann of the Washington CU Daily reports that citing deficiencies that NCUA examiners found during the past year, board Chairman Todd Harper renewed his call for the agency to develop a separate consumer protection examination. His remarks came during his confirmation hearing before the Senate Banking Committee.
Do Small Credit Unions Matter? Should They? Will They?
Does the disappearance of the “small” credit union signal bad things to come for the industry? Chip Filson looks at the trends and suggests setting our sights back on the small to restock the pond.
Hauptman: NCUA Must Make It Easier to Form a Credit Union
NCUA board Vice Chairman Kyle Hauptman believes that the NCUA must make it easier for groups to form new credit unions and should stop encouraging small, struggling credit unions to merge, reports David Baumann of the Washington CU Daily.
Hood: Regulators Need to Develop Joint Cannabis Banking Policy
NCUA Board member Rodney Hood called on federal banking regulators to begin developing a joint principles-based approach to marijuana banking, reports David Baumann of the Washington CU Daily.
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.
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.
