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.
The NCUA’s Most Important Function Needs Transparent Reassessment
Recent high profile embezzlement cases and NCUA’s reticence to disclose information about them suggests a major problem, says Chip Filson. NCUA’s examination process has failed.
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.
Harper Left Out of Meeting Between Biden and Financial Regulators
David Baumann of the Washington CU Daily reports that the heads of the U.S. financial regulatory agencies met with President Biden on Monday. Except for one: NCUA Chairman Todd Harper, who an agency spokesman said was not invited and did not attend.
Reg Agenda: NCUA May Consider Changing Interest Rate Ceiling
The newest version of the federal regulatory agenda has been released and in it the NCUA has listed a number of possible rules it may consider. Among the list are changes to the interest rate ceiling for loans made by credit unions, as well as a number of proposals that the board has been debating, reports David Baumann of the Washington CU Daily.
NCUA Leadership is in a Rut, Part 2
Chip Filson continues his criticism of NCUA leadership, policy, and top-down mandates that offer no input from the credit union community.
Biden Proposes Increase in NCUA’s Community Development Revolving Loan Fund
David Baumann of the Washington CU Daily reports that President Biden’s FY22 Budget proposal includes an increase to the NCUA’s Community Development Revolving Loan Fund program by $500,000 as well as a 22.2% increase for the Community Development Financial Institutions program.
NCUA Leadership Is In A Rut Part I
Chip Filson reflects on the NCUA’s history with embracing change and new methods in necessary times and why it seems to have fallen away from that practice.
NCUA Equity Ratio Dips to 1.22%, But Board Says Restoration Plan is Not Needed Yet
The National Credit Union Administration’s Share Insurance Fund’s equity ratio is expected to dip to 1.22% by the end of June, but the agency board decided Thursday not to require the development of a fund restoration plan, reports David Baumann of the Washington CU Daily. The Board also discussed its Normal Operating Level policy at its May meeting.
A Cooperative Opportunity Trifecta
While the NCUA’s response to start ups may be slow and tied down by regulatory requirements, Chip Filson praises a new program in California aimed at encouraging and supporting young, diverse groups in creating cooperative start ups.
