Regulatory & Compliance

NCUA shared a Supervisory Letter distributed to all examiners with federal credit unions earlier this month to help ensure examiners and credit unions understand that a 1% return on assets is not required in order to achieve a CAMEL 1 rating.

Provisions within a proposed rule from the National Association of Securities Dealers on responsibilities regarding deferred variable annuities may be unwarranted, CUSO Financial Services, L.P. recently said.

During CUNA's recent Technology Council meeting in Orlando, NCUA Board Member Gigi Hyland emphasized the crucial role IT professionals play in the future of credit unions. "Credit unions are all about serving their members," she told attendees, "IT is the cornerstone from which credit unions build their delivery of services,...

NCUA has scheduled its latest Access Across America Economic Empowerment Summit for Oct. 3 in Norfolk, Va.

NCUA is applauding a recent decision from the Washington State Supreme Court allowing credit unions to remain on the list of financial institutions where attorneys can keep interest on lawyer's trust accounts or IOLTAs.

Of the few dozen financial services representatives in the room for their first meeting with the new Treasury secretary, CUNA President and CEO Dan Mica and the heads of the three banking trades made certain to be part of the handful that actually stood up to speak.

The Federal Trade Commission and Federal Reserve Board issued a joint report to Congress last week on compliance with the consumer dispute provisions of the Fair Credit Reporting Act.

The Federal Financial Institutions Examination Council, which includes NCUA, recently released a revised version of the Bank Secrecy Act/Anti-Money Laundering Examination Manual.