NCUA

A letter from Todd Harper, a member of the National Credit Union Administration board, called on lawmakers to make a variety of legislative changes to help credit unions and consumers weather the pandemic.

The joint statement on the risks of cloud computing summarizes years of guidance and rules as industry reliance on third-party platforms has become more ubiquitous.

The regulator banned a former employee of a Philadelphia-based credit union from working at any federally insured financial institution.

Rodney Hood, chairman of the National Credit Union Administration, told the Financial Accounting Standards Board that complying with the Current Expected Credit Losses standard could adversely impact the industry's net worth.

Rodney Hood, chairman of the National Credit Union Administration, says the agency's Central Liquidity Facility can be a vital backstop if a crisis occurs, but it will be stronger if more credit unions chip in to make it a success.

The credit union regulator is making $125,000 in funding available for small, low-income lenders designated as minority depository institutions.

The latest version of the business lending initiative has $60 billion set aside for smaller lenders, including credit unions, but there are concerns the money will be allocated just as quickly this time as it was during the first round.

A credit union-specific liquidity backstop is far less popular than other options such as the Federal Reserve's discount window. The National Credit Union Administration wants to change that.

Plans to update agency branding and other materials are on hold as the credit union regulator focuses on its response to the coronavirus.

The credit union regulator created its Office of Ethics Counsel after two high-profile incidents tarnished the agency's reputation.