CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Jobs
  • Contact

News

Home » Comments due on PCA relief extension, digital currencies
Policy & Issues

Comments due on PCA relief extension, digital currencies

April 22, 2022
NCUA LOGO

Comments on several items of relevant to credit unions are due in the next several weeks. For a complete list, visit CUNA’s Letters and Testimonies page.  

NCUA issued an interim final rule to extend COVID-19 related Prompt Corrective Action (PCA) relief through March 31, 2023. CUNA, the American Association of Credit Union Leagues, and all Leagues wrote to NCUA calling for the extension. 

Specifically, it: 

  • Permits the NCUA board to issue an order to temporarily waive the earnings retention requirement for any credit union classified as adequately capitalized; and 

  • Permits credit unions to submit simplified net worth restoration plans if the reduction in capital was caused by share growth resulting from a temporary condition due to the pandemic. 

Comments on the interim final rule are due April 29.  

Other upcoming deadlines include:  

  • May 2: NCUA proposed rule revising the threshold for federally insured credit unions to be assigned to the appropriate regulatory office.  

  • May 20: Comments on the Federal Reserve’s, “The U.S. Dollar in the Age of Digital Transformation” discussion document on central bank digital currencies.  

KEYWORDS NCUA PCA
Credit Union Magazine: Summer 2023

Summer 2023

Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
Digital Edition •  Subscribe

Trending

  • CUNA, League, credit union-opposed interchange bill reintroduced

  • CUNA, Leagues issue action alert in opposition to interchange bill

  • CUNA urges Congress to oppose interchange legislation

Tweets by CUNA_News

Polls

Do you think ChatGPT will become useful for credit unions?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us