No Successor Named as Hood’s Term Comes to a Close
As NCUA board member Rodney Hood’s term comes to a close, he has announced he has no intention of leaving until a new board member is nominated and confirmed, a process which could take months, reports Emily Claus.
As NCUA Assists Vermont Credit Unions Affected by Floods, GAO Takes Shot at National Flood Insurance Program
While NCUA is offering assistance to Vermont credit unions affected by historic flooding, the Government Accountability Office is urging FEMA to increase premiums on the National Flood Insurance Program to keep it from further sinking under water, reports CUSO Magazine’s Esteban Camargo.
NCUA Board Approves Updated Member Expulsion Rule
The NCUA board on Thursday, July 20, adopted a final rule making it easier for credit unions to expel members from their institutions for cause, such as violence or disorderly behavior, reports David Baumann of CUCollaborate.
House Financial Service Committee to Hold Hearing On Climate-Change Policies
On Tuesday, July 18th, the House Financial Service Committee will hold a hearing to discuss climate-change policy issues and whether financial regulators such as the NCUA can remain politically independent on the topic, reports Emily Claus.
NASCUS: NCUA Should Only Review FISCU Mergers for Share Insurance Risks
The NCUA should butt out of merger reviews of federally-insured, state-chartered credit unions (FISCUs) unless there is a safety and soundness issue that poses risks to the Share Insurance Fund (SIF), NASCUS said, in comments submitted to the agency.
NCUA to Test Provisional Charter to Solve ‘Chicken-or-Egg’ Dilemma
David Baumann of CUCollaborate reports that the NCUA will be able to start a pilot program by September designed to make it easier for organizers to start a credit union, officials from the agency’s Office of Credit Union Resources and Expansion told the agency board Thursday.
As Credit Card Debt Hits New High, PALs Reassert Their Value for Credit Union Members
QCash’s Seth Brickman discusses how NCUA’s Payday Alternative Loan program can be a boon to members who might otherwise rely on more predatory lending options or the credit cards in their wallets.
Streamlining Field of Membership Expansion Will Hurt Small Credit Unions Say Community Bankers
Following the NCUA Board’s February approval of a proposal streamlining the field of membership application process, the change is now coming under fire by community bankers, reports CUSO Magazine’s Esteban Camargo.
NCUA Equity Ratio Drops, but Board Isn’t Panicked
The NCUA’s equity ratio dropped to 1.25% as of the end of March, but agency board members said Thursday there is no need to panic, reports David Baumann of CUCollaborate.
House Financial Services Committee Drafts Legislation to Increase Credit Union and Bank Oversight Following Bank Failures
Following the collapse of three major banks, the House Financial Services Committee has announced legislation which would require financial regulators such as the NCUA to provide semi-annual reports, detailing credit unions that underperformed on examinations, reports Emily Claus.
