Compliance

SPOKANE VALLEY, Wash. — One set of numbers the recession hasn't depressed? Regulations. The resulting compliance demands are only expected to grow in 2011.

NEW YORK — Cliff Rosenthal is hopeful that 2011will be a year in which NCUA examiners gain a better understanding of the unique operating characteristics of low-income and community development credit unions.

LAKE BLUFF, Ill.-The financial industry's Y2K scare of 2010-the projected, dramatic loss of revenue from the new overdraft rules-never came to be. In fact, financial institutions' revenue from overdraft protection is tracking to rise in the fourth quarter.

The NCUA Board last week approved a new financial literacy rule for the nation's 75,000 volunteer credit union directors requiring for the first time that each director obtain a minimum ability to read a credit union income statement and balance sheet.

WASHINGTON-An uptick in indirect auto lending losses has NCUA and its field staff paying closer attention to CU partnerships with car dealerships.

According to two CEOs — Shruti Miyashiro and Eric Bruen — who said they interviewed more than 20 examiners, the following are upcoming "hot topics" when exams occur ...

ANAHEIM, Calif.-Preparing for an exam from NCUA or a state regulator? You should be, even if one isn't in the near future, according to two credit unions at opposite ends of the asset size spectrum.

ALEXANDRIA, Va.-The NCUA Board, struggling with growing losses to the insurance fund from credit unions, cut back significantly on its eight-year-old deregulatory program known as Regulatory Flexibility, or Reg Flex.

Credit union executives are unanimously against a proposal by the FASB that would extend fair value accounting, also known as mark-to-market.

The Financial Stability Oversight Council held its first meeting and faced open doubts from lawmakers and others about how fast it can move and what it can accomplish.