Compliance

ALEXANDRIA, Va. - The NCUA Board has approved three new items, and is seeking comment on some of the proposals.

HOLLYWOOD, Calif.-The relationship between credit unions and NCUA examiners has become more strained than usual in the wake of a recession that has led to numerous CU failures and forced mergers.

"I am writing in response to your letter dated June 15, 2011, which makes the very unfortunate, and erroneous, inference that we requested that the agency 'conceal' legal or regulatory violations on the part of credit unions ..."

ALEXANDRIA, Va.-A call by NAFCU for NCUA to be more transparent about its fledgling consumer protection office has led to a "He said, she said" exchange between NAFCU President Fred Becker and NCUA Chairman Debbie Matz.

In a June 16 letter, NCUA Chairman Debbie Matz denied there has been any lack of transparency, writing, "In a series of communications since OCP was created in 2010, NCUA has featured articles addressing why the NCUA Board created OCP, its mission, and specific responsibilities being transferred to OCP.

SAN ANTONIO-Credit unions are being offered some advice and strategies for dealing with the next wave of regulations.

WASHINGTON-The Consumer Financial Protection Bureau released two prototypes for a single, streamlined mortgage disclosure form.

WASHINGTON-The Treasury Department has swapped the carrot for the stick for three of the largest participants in the administration's foreclosure prevention program.

WASHINGTON-With regulators struggling to decide which loans to excuse from risk-retention, Federal Deposit Insurance Corp. Chairman Sheila Bair said the best option would have been to shelve the exemption altogether.

WASHINGTON — CUNA last week sent a letter to NCUA saying the agency's final rule on incentive-based compensation arrangements should distinguish between credit unions that have not rewarded undue risk taking and those financial institutions that have.