Regulatory actions and programs

The chairman of the National Credit Union Administration gave CU Journal more details on the agency’s forthcoming rule providing guidance for credit unions purchasing banks.

From data privacy to robocalling, industry leaders chime in on the biggest regulatory and congressional issues at stake for the remainder of the year.

Someone reportedly was burning paper at the Texas bank on a recent Saturday night, and a state regulator cited "insider fraud and abuse" after Enloe was closed.

More than 5,500 credit unions will receive a dividend this week, the second time in two years the agency has returned funds to the institutions it regulates.

Regulators placed the $3 billion-asset institution into conservatorship less than a year after the New York City-based CU fired President and CEO Kam Wong in the wake of embezzlement charges.

Brian Johnson, a Republican political appointee at the CFPB, has been named the agency's deputy director, the No. 2 job behind Director Kathy Kraninger.

It is designed exclusively to address concerns of regulators who have complained about the bank's lack of progress in recovering from a series of scandals.

The Decatur, Tenn.-based institution earned just $60,000 last year as its net worth ratio declined.

Lenders argue that the move is premature, citing record-low charge-offs in the agency's 7(a) program.

The head of the agency said she wants FDIC staff to be proactive with banks that show visible problems, but not “focus more on seeking out dirt than on whether the home is clean.”

The changes will expand the role of the Consumer Advisory Board and other panels, but stopped short of reversing the downsizing ordered last year by former acting Director Mick Mulvaney.

With the National Credit Union Administration board at full strength for the first time in years, here are three areas where the panel can make a big difference for CUs early on.

The National Credit Union Administration will return the money to credit unions after having lowered the agency's normal operating level last year.

The lawmakers want U.S. banking agencies to join their international peers in ensuring the financial system is resilient to climate-related risks.

The hiring of a former GOP congressional aide suggests the bureau will continue to rely on political appointees in senior positions.

The question for lawmakers is how to work together to make sure as many people as possible are able to take advantage of the opportunities provided by innovation, writes Brian Tate, president and CEO of the Innovative Payments Association.

The alleged supervisory lapses occurred over a five-year period, according to the regulator.

An eight-month-old consent order appears to be forcing the San Francisco bank to grapple more deeply than it did previously with the many failures that led to its account-opening scandal.

Dozens of House members and four senators agree with arguments by farmers and lenders that a proposed change to the 7(a) program would disqualify worthy borrowers.

A motion to limit debate on the nominee to run the consumer bureau passed along strictly party lines, setting the stage for her to be confirmed as early as next week.