Following conversations with CUNA last week, NCUA has extended the deadline to comment on call reports to Aug. 15. During its conversations, CUNA noted the original deadline of Aug. 1 fell shortly after the call report submission deadline.
The NCUA board unanimously approved a proposed rule on the Community Development Revolving Loan Fund and an interim final rule on statutory inflation of civil money penalties Thursday at its monthly board meeting.
The NCUA board received a briefing Thursday on efforts to revise interest rate risk supervision and the possibility of adding an “S” to the CAMEL rating system. The briefing did not include a board action.
The NCUA will give credit union stakeholders a chance to comment on the agency’s proposed 2017-18 budget in October, Chair Rick Metsger announced Wednesday. During the briefing, CUNA and other stakeholders will have the opportunity to present their views.
The NCUA hopes to have changes in place to the examination cycle by 2017, Chair Rick Metsger said in a letter sent Wednesday to Rep. Jeb Hensarling (R-Texas), chair of the House Financial Services Committee.
The NCUA board will conduct a briefing on adding S (for sensitivity risk) to its CAMEL rating system at its June 16 board meeting. The meeting also includes an interim final rule on statutory inflation of civil money penalties.
As mentioned by NCUA Chair Rick Metsger at the agency’s last meeting, a request for information on modernizing data collection has been published in the Federal Register. Comments are due to the agency Aug. 1.
Input from credit union leaders and CUNA has been essential to the NCUA’s recent efforts to modernize the examination system, and it will be needed in the future, said CUNA Chief Advocacy Officer Ryan Donovan.
CUNA will be at the forefront of the conversation as the NCUA commences a comprehensive modernization of its examination system. CUNA's strategy includes providing input to the agency and keeping members informed.
Credit unions will have an extra three days to file second- and third-quarter call reports this year, the NCUA announced Monday. Second-quarter call reports will be due July 25, third-quarter call reports will be due Oct. 24.
FinCEN issued a list last week of frequently asked questions regarding Customer Due Diligence requirements for financial institutions. The document contains 24 sets of questions and answers, which are also available on. CUNA’s CompBlog .
Oral arguments in the lawsuit against the Federal Communications Commission regarding its Telephone Consumer Protection Act will begin Oct. 19. CUNA filed an amicus brief last year asking for the ruling to be vacated.
The NCUA board voted Thursday to adopt the agency’s strategic plan for 2017-21 that includes updating the agency’s goals for examinations. While this change does not immediately credit unions' exam cycle, it sets the stage for later improvements.