NCUA

The National Credit Union Administration juggled several challenges this year beyond the pandemic recession, including an inspector general's report about alleged misconduct by two former employees and criticism that board members had lost their old spirit of comity.

Provisions implemented under the CARES Act that made it easier for institutions to utilize NCUA's Central Liquidity Facility have been extended for a year with the signing of Consolidated Appropriations Act.

A look back at a year in which little went according to plan for credit unions.

Under the terms of the rule, NCUA could exempt credit unions from some Bank Secrecy Act requirements on a case-by-case basis, provided there are no safety or soundness concerns.

Sarah Canepa Bang will serve as a senior advisor to the agency's vice chairman. Separately, a 27-year veteran of the regulator announced plans to retire.

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

This is the first time the agency has had a vice chairman since 2014.

The spending plan passed in a party-line vote, but board member Todd Harper's objections indicate he could push for closer oversight if President-elect Joe Biden elevates him to the chairmanship.

Starting in 2022, hundreds of newly eligible institutions will be able to raise funds from investors. Bankers argued that the change will further blur the line between the two industries.

Credit union trade groups said the regulator’s spending plan indicates the agency isn't listening to feedback and needs to make further cuts while providing more support for de novos.