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.
Supreme Court’s Rules in Favor of CFPB; Director Chopra Ramps Up Activity
Now that the Supreme Court has found the Consumer Financial Protection Bureau’s funding mechanism constitutional, Director Rohit Chopra is revving up the agency’s engines, reports David Baumann.
Appraisers Under Fire for Alleged Bias, Lenders On Notice
The issue of whether appraisers are guilty of racial and ethnic bias an important one, particularly since regulatory agencies have made it clear that lenders, including credit unions, are responsible for the accuracy of appraisals. David Baumann reports on the developments.
CFPB and Credit Unions Clash on Fee Income Reporting and Protections
In recent news on the never-ending clash between credit unions and the Consumer Financial Protection Bureau regarding fee income, credit unions are speaking out against new requirements making fee income public information, reports Emily Claus.
CDFI, LID, and MDI: What’s the Difference?
The credit union world is chock full of acronyms. CUSO Magazine’s Esteban Camargo looks at community development financial institutions (CDFIs), low-income credit unions (LICUs), and minority depository institutions (MDIs); what they mean and the benefits each provide.
