Compliance

Hundreds of credit unions have quietly qualified for relief from regulatory restrictions on member business loans and raising supplementary capital through NCUA's low income program, even as Congress continues to hold up decade-long requests for regulatory relief.

Credit union executives called on Congress last week to get the Consumer Financial Protection Agency to exercise existing powers to exempt credit unions from a growing list of new regulations being issued by the fledgling agency, or at least allow NCUA to override some of the new CFPB rules.

WASHINGTON – Credit union executives called on Congress this afternoon to get the Consumer Financial Protection Agency to exercise existing powers to exempt credit unions from a growing list of new regulations being issued by the fledgling agency, or at least allow NCUA to override some of the new CFPB rules.

Credit unions are calling foul on proposed federal guidelines that would, among other requirements, force credit unions to put proper consumer disclosures on all social media messages, cutting deeply into the allowable 140-character limit on Twitter, for example.

ALEXANDRIA, Va. – NCUA and the other financial regulators are drafting standards to evaluate workforce diversity at credit unions and banks in an effort to gauge institutions’ efforts to hire women and minorities.

WASHINGTON – Credit unions are calling foul on proposed federal guidelines that would, among other requirements, force credit unions to put proper consumer disclosures on all social media messages, cutting deeply into the allowable 140-character limit on Twitter, for example.

Tim Segerson, deputy director of Examination andInsurance with NCUA, shared a Top 10 List of Red Flags that will be getting the attention of examiners, as well as another Top 10 List of Things Examiners Want to See.

NCUA's examiners will be focusing in the second half of the year on credit unions' ability to manage e-banking risk.

Credit unions are worried a proposal by the Financial Accounting Standards Board (FASB) to use an expected loss method to measure loan losses will require them to increase loan loss reserves and are calling on the FASB to withdraw the proposal.

ALEXANDRIA, Va. – With the explosive growth in mobile banking, NCUA is cautioning CUs not to expand e-banking services without also implementing strong plans to manage risk in this area.