NCUA

Regulators placed the $3 billion-asset institution into conservatorship less than a year after the New York City-based CU fired President and CEO Kam Wong in the wake of embezzlement charges.

National Credit Union Administration Chairman Rodney Hood’s testimony Thursday was reportedly the first time in three years the agency has appeared before the House Financial Services Committee.

Recent letters from NAFCU and CUNA called on the Consumer Financial Protection Bureau to provide a carve out in its payday lending rule for loans made by credit unions.

At a Senate Banking hearing focusing primarily on predatory lending practices, NCUA Chairman Rodney Hood offered insight into the agency's priorities under his leadership.

A report from the National Credit Union Administration’s Office of the Inspector General found the agency routinely failed to properly dispose of IT materials and spent roughly $440,000 on unnecessary equipment, among other findings.

Rodney Hood, chairman of the National Credit Union Administration board, will testify later this week before a Senate committee with CECL as a likely topic.

The credit union regulator’s proposal to raise the threshold for home-sale appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.

The credit union regulator’s proposal to raise the threshold for commercial appraisals to $1 million could introduce more risk into the financial system, particularly if bank regulators follow suit.

A proposal to give the Consumer Financial Protection Bureau jurisdiction over credit unions with $10 billion or more of assets has sparked a war of words between the longtime foes.

The credit unions, all of them small institutions, will pay a total of $4,069 in penalties for tardy submission of Q3 2018 all reports.