Regulatory & Compliance

The FDIC has alerted member banks and the Office of the Comptroller of the Currency to fraudulent letters circulating appearing to be from the FDIC and instructed recipients not to respond to them.

In his keynote address at the opening session of the National Federation of Community Development Credit Unions' Serving the Underserved Conference, NCUA Vice Chairman Rodney Hood pointed out that June is National Homeownership Month and encouraged credit unions to increase homeownership among the underserved.

Earlier this month, the Senate confirmed Treasury Deputy Assistant Secretary for Financial Institutions David G. Nason to be elevated to the assistant secretary spot.

The Government Accountability Office hosted a daylong forum June 11 to look at the desirability of merging financial services regulators, among other items.

NCUA took over $55 million assets Obelisk Federal Credit Union back in April and has now found a merger partner for it.

The Credit Union Regulatory Improvements Act (H.R. 1537) reached 100 co-sponsors last week as press time was running out.