CU leaders want update on agency actions in capitalization and provider services.
Agency board told Monday that losses may not be as large as originally projected.
Sarah Snell Cooke’s column, “Parsing the Possible Harm Awaiting NCUSIF” (Aug. 17 issue) presents some unfounded extrapolations about potential losses to the NCUSIF. The column simply took the assets of all CAMEL 4 and 5 credit unions, assumed they would all fail and applied the average loss ratio of 17%...
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
NCUA General Counsel Robert Fenner and Office of Examination and Insurance Director Melinda Love both plan to retire later this year, the agency announced last week.
NCUA General Counsel Robert Fenner and Office of Examination and Insurance Director Melinda Love plan to retire later this year, the agency says.
Credit unions probably won’t have to pay a premium for the NCUSIF, but the NCUA is still trying to encourage them to part with more of their money.
If current trends hold, the NCUA isn’t likely to have to levy a premium to shore up the NCUSIF this year, and if there is sufficient participation in the prepayment plan, assessments to repay the corporate credit union rescue could be reduced.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.
NCUA says plan proposed Thursday came from requests from credit union executives.