ALEXANDRIA, Va. — Credit unions already paid 2013 operating fees, so excess funds will offset 2014 operating budget, NCUA Board decides.
The NCUA reported April 2 that it scored a $165 million win against Wall Street, reaching a settlement with Bank of America over residential mortgage-backed securities losses at failed corporate credit unions. Bank of America did not admit fault as part of the settlement, the NCUA said in a release.
What common bond does a website editor in Los Angeles share with a military-based credit union in Virginia?
The NCUA Board presided over a monthly board meeting Feb. 21 that concerned mostly positive news for credit unions. Two new rules that expand investment powers and field of membership reach were approved. And year-end share insurance statistics showed improved CAMEL scores and legacy asset performance.
Before the recession, credit unions sometimes skimped on requiring business borrowers to provide legal opinions for transaction fundamentals, attorney Dustin DeVore told an educational session audience during a Feb. 11 Metropolitan Area Credit Union Management Association meeting in Rosslyn, Va.
The NCUA Board approved two new rules during its February meeting Thursday that expand investment powers and field of membership reach.
Mortgage rules expected at Baltimore meeting next week; remittance rules expected to be posted on agency website in weeks to come.
Trade group says five new rules at once will pose "unprecedented challenge to digest, understand and implement."
NAFCU said Thursday it has promoted Tessema Tefferi to senior regulatory affairs counsel and hired two more attorneys to work in that area.
ALEXANDRIA, Va. — A final rule approved Thursday by the NCUA Board eliminates use of credit ratings as standards of investment creditworthiness.