While we are all getting tired of hearing “COVID-19” multiple times a day, this time it may help you when examiners come to visit. On June 30, the NCUA updated its Examiner’s Guide to include a section on COVID-19. The section begins with “The COVID-19 pandemic may have a lasting impact on credit unions’ financial… Read More »
From the NCUA – NCUA Board seeks comment on Stabilization Fund Closure and Share Insurance Fund Normal Operating Level Credit union system stakeholders are invited to comment on NCUA’s proposed plan to close the Stabilization Fund in 2017. To facilitate the closure and ensure the Share Insurance Fund has sufficient equity to absorb potential losses… Read More »
On March 29, 2017, NCUA released a supervisory letter in a Letter to Credit Unions (17-CU-02) that provides an updated list of Compliance Risk Indicators. The updated list builds upon the previous guidance issued in a 2002 Letter to Credit Unions. NCUA notes that the “updated list of indicators does not impose any new or higher… Read More »
On December 28, 2016, the NCUA released Letter to Credit Unions 16-CU-12, detailing their exam scheduling policy which goes into effect January 1, 2017. For state-charted, federally insured credit unions, the Letter details that: Credit unions meeting any one of the following three criteria will receive NCUA exams that will begin between 8 and 12… Read More »
The National Credit Union Administration published at 81 FR 76495 a notice renaming its Office of Consumer Protection (OCP). The new name, effective today, is the Office of Consumer Financial Protection and Access (OCFPA). Passwords to access the blog posts, and blog posts are only for NWCG owners and retained clients. These should not be shared outside… Read More »
NCUA’s Office of Small Credit Union Initiatives issued “Going Digital: Strategies for Providing Digital Services,” which provides step-by-step instructions on creating a strategic plan for analyzing members’ needs and tailoring digital products to meet those needs. The guidebook also details potential advantages and disadvantages to members and credit unions. While most of our credit unions… Read More »
Akin to, the in-laws are coming, and they are bringing gifts… The NCUA issued Letter 16-CU-01 describing top areas of supervisory focus and will be part of the 2016 exam process. The letter highlights: Cybersecurity Assessment NCUA encourages all credit unions to use the FFIEC tool to manage cybersecurity risks. NCUA also plans to begin… Read More »
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