Regulatory & Compliance

ALEXANDRIA, Va.-As retirement account protection increased, NCUA issued a statement announcing that new signage would be available shortly. Federal deposit insurance retirement account coverage increased on April 1 to $250,000 and other coverage will potentially be increasing five years from now due to the new deposit insurance reform law. Though...

WASHINGTON-NCUA, in conjunction with the other federal financial regulators, shared findings recently from a report on how to make privacy notices more understandable for consumers. Evolution of a Prototype Financial Privacy Notice summarizes a year's worth of consumer research to improve financial privacy notices. The report, conducted by Kleimann Communication...

WASHINGTON-The federal financial regulators and the Department of Housing and Urban Development last week issued updated answers to the frequently asked questions on Home Mortgage Disclosure Act price data. HMDA data will include pricing information for the second year in a row for loans above reporting thresholds set by the...

DES MOINES, Iowa-During remarks at the Iowa Credit Union Foundation Summit, NCUA Vice Chairman Rodney Hood laid out the importance of homeownership, particularly among the underserved, for wealth building. "Owning a home is the foundation of wealth for low-income families and is their quickest path to self-sufficiency," Hood said. Serving...

ALEXANDRIA, Va.-A super-majority is needed to change Federal Credit Union Bylaws, according to a March 17 NCUA legal opinion letter. The Board may change the number of directors by resolution but it must be by a two-thirds vote, NCUA Associate General Counsel Sheila Albin wrote. She also reminded that federal...

WASHINGTON-At its two-day meeting last week, the Federal Open Market Committee increased the federal funds target by 25 basis points to 4-3/4%. In its release, the FOMC said "some further policy firming may be needed to keep the risks to the attainment of both sustainable economic growth and price stability...