The reduced compliance burden, as a result of new NCUA rules introduced during the regulator’s May 24 board meeting, is worth $8 million to federally insured credit unions.
Final rules passed at the NCUA board meeting May 24 include the extension of regulatory flexibility standards to all credit unions, and new rules for troubled debt restructuring that will require written loan workout and nonaccrual policies.
Over the last 20 years, the pressure of competition has increased significantly for credit unions. Many non-depository institutions have entered the lending and transaction account spaces historically reserved for financial institutions. The fast pace of innovation in technology and financial products and services have brought new consumer expectations along...
ALEXANDRIA, Va. — The NCUA Board extended regulatory flexibility standards but required written loan workout policies for troubled debt restructuring by Oct. 1.
CEO Jim Blaine said nation's second-largest credit union is sound and that SECU "can't get a straight answer" from federal regulators.
The NCUA’s second listening session, which attracted approximately 100 participants to the Westin Hotel in Alexandria, Va., was intended to address exam issues and the regulatory burden. The event did address exams, but questions also revealed two potential regulatory changes.
NCUA, credit unions share common interests and can work together to support the industry, NCUA Board Chairman Debbie Matz tell annual meeting.
Topics discussed at the event covered NCUA’s new interest rate risk policy, member business lending regulations, the exam appeal process, overdrafts and the Consumer Financial Protection Bureau.
Openness at Fed about stress tests sets good example for same from NCUA, consultant Glatt argues.
Larry Fazio says good working relationship is usually the case but that there have been breakdowns and "tension inherent."