NCUA issued a reminder this week that "having a policy or practice of requiring manual underwriting as an exception to automated underwriting systems based on a minimum or maximum age" violates the Equal Credit Opportunity Act (ECOA) and its implementing regulation, Regulation B.
CUNA supports NCUA’s proposed rule expanding the definition of “qualified charity” that a federal credit union may contribute to using a Charitable Donation Account in comments on the proposal filed this week. CUNA has called for such an expansion since June 2022.
NCUA Chairman Todd Harper spoke at the International Credit Union Regulators’ Network Annual Meeting on the challenges facing regulators and the credit unions and cooperatives they oversee. He said it is essential for all regulated entities to prepare for economic and financial stress.
The NCUA Board will vote on a final credit union bylaw rule at its July 20 board meeting, which makes the changes necessary to implement the CUNA-League-led Credit Union Governance Modernization Act. CUNA supports the rule as proposed.
CUNA supports NCUA’s commitment to continually reviewing its regulations, CUNA wrote in response to NCUA’s annual review of one-third of its regulations, also providing suggestions on how to streamline, clarify or otherwise improve regulatory requirements in the regulations covered by the review.
The National Credit Union Administration has extended the deadline for applying for 2023 Community Development Revolving Loan Fund grants to July 7. Credit unions with either the low-income or minority depository institution designation are eligible to apply.
NCUA released its report to Congressional committees on cybersecurity and credit union system resilience, which provides an explanation of the measures taken to strengthen cybersecurity within the federally insured credit union system and NCUA.
NCUA released the June 2023 update of its Simplified CECL Tool this week. The update includes the latest life-of-loan, or Weighted Average Remaining Maturity, factors and additional minor enhancements.
NCUA announced Thursday it is rescinding much of its pandemic-related guidance to credit unions. This follows the end of the federal government’s COVID-19 public health emergency declaration on April 10.
Registration is now open for NCUA’s fourth summit focused on diversity, equity, and inclusion. The in-person event will take place November 1–2, 2023, at the Hilton Washington D.C. Capitol Hill. The theme of this year’s Summit is DEI: It Starts With Me.