NCUA

The National Credit Union Administration board approved a rule that will require credit unions to notify the agency of a breach within 72 hours.

In a state where two-thirds of residents use a credit union, a growing populace translates to even more membership, employment and loan growth with those institutions, according to data from the National Credit Union Administration.

The National Credit Union Administration must justify its sharply higher operating budget for next year.

The National Credit Union Administration board voted Thursday to advance a proposed rule that would loosen existing regulations and allow credit unions to purchase member loans from fintechs.

Citing "unsafe and unsound practices," the National Credit Union Administration has temporarily taken charge of Richmond City Employees Federal Credit Union.

The National Credit Union Administration order says the small credit union must address "supervisory concerns" by conducting certain auditing and fraud reviews and taking other corrective steps.

The National Credit Union Administration has asked Congress to restore its authority over credit union service organizations and other vendors, but some in the industry say the regulator already has enough on its plate.

The National Credit Union Administration in January proposed a rule that would require credit unions to have succession plans in place. Despite the necessity for arrangements, many CEOs want autonomy in the process and would rather avoid a formal rule.

Rising interest rates are forcing credit unions to pay more for deposits while they are sitting on low-yielding loans, according to the National Credit Union Administration's eastern regional director, John Kutchey.

The Biden administration's Property Appraisal and Valuation Equity Task Force is working to eliminate race-based bias in the assessment of home values.