News & Analysis as of

National Credit Union Administration Credit Unions

Littler

FDIC Approves Final Rule to Update Its Section 19 Regulations – Insured Depository Institutions Have Until October 1, 2024 to...

Littler on

On July 30, 2024, the Federal Deposit Insurance Corporation (“FDIC”) Board of Directors approved a final rule that updates the FDIC’s regulations concerning Section 19 of the Federal Deposit Insurance Act, 12 U.S.C.§ 1829...more

Ballard Spahr LLP

NCUA Board Votes to Maintain 18% Interest Rate Ceiling on Most Loans

Ballard Spahr LLP on

The NCUA board on July 18 voted to maintain its interest rate ceiling on most loans at 18% from Sept. 11, 2024 through March 10, 2026. ...more

McGlinchey Stafford

Minnesota, Nevada, and Rhode Island Propose DIDMCA Opt-Outs

McGlinchey Stafford on

Minnesota, Nevada, and Rhode Island are the most recent additions to the list of jurisdictions that have proposed legislation to opt out of the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Sections...more

Ballard Spahr LLP

Credit unions should expect increased supervision from NCUA on overdraft/NSF fees, vendor risk, and fair lending

Ballard Spahr LLP on

On February 6, 2024, National Credit Union Administration (NCUA) Chairman Todd M. Harper spoke at a Brookings Institution event to outline his regulatory agenda and supervisory priorities for 2024. His prepared remarks...more

Troutman Pepper

A Closer Look at NCUA’s Consumer Financial Protection and Compliance Expectations

Troutman Pepper on

As discussed, in a recent letter, the Chairman of the National Credit Union Administration (NCUA) outlined the agency’s supervisory priorities for 2024. In this post, we delve deeper into the area of consumer protection...more

Troutman Pepper

NCUA Announces Supervisory Priorities for 2024

Troutman Pepper on

On January 23, the Chairman of the National Credit Union Administration (NCUA) released a letter outlining its supervisory priorities for the new year. While the organization acknowledged that the credit union system had...more

Seward & Kissel LLP

Credit Union Share Certificates: A Primer

Seward & Kissel LLP on

Over the last several years credit unions have sought to raise funds in the capital markets by issuing their Share Certificates through brokers or other intermediaries. Credit union shares have many of the same attributes of...more

Orrick, Herrington & Sutcliffe LLP

NCUA to reinstate civil money penalties for late call reports

Recently, the National Credit Union Administration (NCUA) announced it will reinstate assessing civil money penalties for credit unions that fail to submit a call report (NCUA Form 5300) in a timely manner. The call report...more

Dechert LLP

Proposed Rule on Quality Control Standards for Automated Valuation Models: Comments Closed and Now What?

Dechert LLP on

The proposed rule, if adopted, would apply to mortgage originators and issuers of mortgage-backed securitizations that rely on automated valuation models (“AVMs”) to determine the value of real estate collateral. The...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Troutman Pepper

Federal Agencies Issue Joint Guidance on Contingency Planning for Liquidity Risks

Troutman Pepper on

On July 28, the Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and the National Credit Union Administration (NCUA)...more

Orrick, Herrington & Sutcliffe LLP

Agencies put out policy on CRE workouts

On June 29, the FDIC, OCC, Federal Reserve Board, and NCUA, in consultation with state bank and credit union regulators, jointly issued a final policy statement addressing prudential commercial real estate loan accommodations...more

Orrick, Herrington & Sutcliffe LLP

NCUA annual report to Congress covers cybersecurity

On June 28, the NCUA released its annual report on cybersecurity and credit union system resilience to the House and Senate banking committees. The report outlines measures the agency has taken to strengthen cybersecurity...more

McGlinchey Stafford

Marijuana & Banking: What’s the Hold Up? Pt. 1 – Conflicting Legal Landscapes

McGlinchey Stafford on

Today, nearly four-fifths of the United States have regulated medical marijuana markets. Nearly half of the United States, consisting of twenty-one states along with Washington, D.C. and Guam, have acted to legalize...more

Bradley Arant Boult Cummings LLP

You Have 72 Hours: NCUA Finalizes New Cybersecurity Incident Reporting Rule for Federally Insured Credit Unions

Federally insured credit unions are now required to report a cyber incident to the National Credit Union Administration (NCUA) Board within 72 hours. This final rule was unanimously approved by the NCUA on February 17, 2023...more

Lewis Roca

NCUA Approves 72-Hour Breach Notification Rule

Lewis Roca on

The National Credit Union Administration (NCUA) approved a final rule that will require any Federally-Insured Credit Union (FICU)—including federally charted corporate credit unions and federally insured state-chartered...more

Nelson Mullins Riley & Scarborough LLP

NCUA Announces New Cyber Threat Reporting Requirement

The NCUA stated the new rule, which was approved on Feb. 16, 2023, aims to mitigate cyber incidents “that [lead] to a substantial loss of confidentiality, integrity, or availability of a network or member information system...more

Baker Donelson

NCUA Approves New Cyber Incident Reporting Requirements: What Credit Unions Need to Know

Baker Donelson on

The National Credit Union Administration (NCUA) has approved new cyber incident reporting requirements for credit unions. Under the final rule, federally insured credit unions will be required to notify the NCUA of a...more

Orrick, Herrington & Sutcliffe LLP

NCUA approves final cyber incident reporting rule

On February 16, the NCUA approved a final rule that requires federally-insured credit unions (FICUs) to notify the agency as soon as possible (and no later than 72 hours) after a FICU “reasonably believes that a reportable...more

Orrick, Herrington & Sutcliffe LLP

NCUA will maintain loan interest rate ceiling at 18%

On January 27, the NCUA board unanimously voted to maintain the current temporary 18 percent interest rate ceiling for loans made by federal credit unions (FCUs) for another 18 months. ...more

Kaufman & Canoles

Credit Union Alert – FCUs Will Soon be Able to More Easily Expel Problematic Credit Union Members

Kaufman & Canoles on

For a long time, federal credit unions (FCUs) have requested legislative changes to allow FCUs the ability to expel members who commit fraud or engage in violent or disruptive behavior. It took an act of Congress to get it...more

Troutman Pepper

Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation - The Consumer Finance Podcast

Troutman Pepper on

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues James Stevens and Carlin McCrory as they discuss the consumer protection and safety and soundness sides of credit union regulation....more

Kaufman & Canoles

Credit Union Alert – NCUA Extends Flexibility for Federal Credit Unions

Kaufman & Canoles on

NCUA Extends Flexibility for Federal Credit Unions - NCUA has issued Letter to Federal Credit Unions 21-FCU-06. In its letter, NCUA notes the continued need for flexibility when conducting meetings during the COVID-19...more

Troutman Pepper

Credit Union’s Marijuana-Related Compliance Failure is a Warning to Lenders

Troutman Pepper on

Live Life Federal Credit Union, a $69 million-asset credit union based in Fraser, Michigan, recently consented to a cease-and-desist order issued by the National Credit Union Administration Board (NCUA). The enforcement...more

Ballard Spahr LLP

NCUA and CFPB sign MOU on improving collaboration

Ballard Spahr LLP on

On January 14, 2021, the NCUA and CFPB announced the agencies have entered into a memorandum of understanding relating to their joint supervision of federally insured credit unions over $10 billion in assets. The MOU seeks to...more

64 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide