NCUA

In a letter to CFPB Director Richard Cordray, NCUA Chairman Mark McWatters said dropping CFPB oversight of credit unions would free up CFPB resources to better police larger, for-profit institutions, while also extending a hand for a potential partnership.

The brief supporting field of membership expansion — in the face of a lawsuit by the American Bankers Association — is a sign of continued collaboration between CUNA and NAFCU.

J. Mark McWatters, now the 10^th NCUA chairman, was named acting NCUA chairman following President Trump’s inauguration.

A proposal on the agency’s overhead transfer rate would simplify how state- and federally chartered CUs pay for examinations by evenly splitting the costs of safety-and-soundness and insurance-related concerns.

Regulators cited "unsafe and unsound" practices at the credit union, which has assets of more than $76 million and turned a small profit in each of the last two years.

A proposed merger regulation from NCUA could make it easier for members to share opinions on whether or not their CU should merge, but analysts say it could also allow members to compliate or even derail the entire process.

The brand new low-income credit union will serve downtown Lincoln, Neb., and hopes to provide an alternative to predatory payday lenders.

The trade group filed a brief backing an effort by the American Bankers Association to push back against the NCUA's planned revisions to field-of-membership regulation.

The ICBA has filed a supporting brief to the American Banker's Association's FOM suit against NCUA, but a rapid decision is unlikely, and the case has already dragged on longer than the bankers' MBL suit.

Credit unions continue to press the Consumer Financial Protection Bureau for regulatory relief, arguing that existing exemptions have not gone far enough.

Financial regulators issued joint guidance on Wednesday highlighting the availability of cross-state appraiser licensing agreements.

The NCUA aims to give credit unions access to in-person hearings with its governing board. Such an opportunity is lacking at federal bank regulators.

While CUs welcome the changes to the appeals process, the merger transparency rule is sure to raise a few eyebrows.

In a rare move, the credit union regulator is asking the CFPB for exemptions for credit unions from expanded HMDA requirements and unfair and deceptive acts authority.

Of those penalized, 11 had assets of less than $10 million and only one had assets of more than $250 million.

Federal regulators are early in the process of deciding whether to broaden credit unions' access to capital markets, but banking lobbyists have seen enough to argue that it would let credit unions skirt business-lending limits.

The comment period on NCUA's notice of proposed rulemaking on alternative capital ended last week, and judging by the letters, another battle is brewing.

With their big-picture view across multiple portfolios, some CUSOs are reporting an increased appetite for business loans and participations.

The federal regulator has created a new portal offering training courses and other information for free.

The $1.2 billion-asset credit union was recently approved for conversion to a federal trade, industry and professional charter, making it the first firefighters’ credit union in the nation chartered specifically for business lending.