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.”