NCUA finalized two rules Thursday, one on stress testing, and one on advertising. The stress testing rule is effective June 1, the advertising rule will be effective 30 days after publication in the Federal Register.
While CUNA and credit unions are suppor of NCUA’s vision for future examination and supervision, small credit unions often face heavier burdens, CUNA’s Small Credit Union Committee wrote to the NCUA board Wednesday.
NCUA General Counsel Michael McKenna recently issued a legal opinion letter from the agency on loan participations in response to an inquiry about whether it must meet requirements throughout the life of the transaction.
CUNA appreciates NCUA’s efforts to streamline the examination and supervisory process with an eye toward the future of the industry, it wrote in response a request for information on call report/profile content modernization.
CUNA/league advocacy resulted in the NCUA board approving share insurance fund equity distributions at Thursday’s meetings, with the dividends expected to go to eligible credit unions in the third quarter of this year.